Industry in United Arab Emirates
United Arab Emirates - IndustryConditions in H1 2022 should be robust so far. The oil sector benefitted from the combined effects of the gradual pickup in production through April and elevated prices. For the first time in two years, the UAE shipped oil to Europe, as the latter tries to move away from dependence on Russian oil. The non-oil sector likely contributed to a solid performance as well, as the PMI signaled continually strengthening conditions through April. Further, the UAE and Israel signed their first free trade agreement, reflecting increasing ties between the countries. Meanwhile, the UAE’s crypto-friendly stance is attracting business and could lead the UAE to become a crypto-hub. In politics, Sheikh Mohammed bin Zayed al-Nahyan—the former crown prince of Abu Dhabi—was named president of the UAE on 14 May, following his brother’s death. The transfer of power should not bring any changes in policy.
United Arab Emirates - Industry Data
|Industrial Production (annual variation in %)||6.0||3.2||-0.8||1.6||3.1|
5 years of economic forecasts for more than 30 economic indicators.
United Arab Emirates Industry Chart
Source: National Bureau of Statistics.
United Arab Emirates Facts
|Exchange Rate||3.67||0.0 %||Dec 31|
|Stock Market||0.1||0.75 %||Jan 07|
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November 14, 2022
Inflation in Dubai eased for a third consecutive month in October; it moderated to a seven-month low of 4.5%, down from September’s 5.4%.
April 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) came in at 54.8 in March, matching February's reading.
March 3, 2022
The IHS Markit Purchasing Managers’ Index (PMI) came in at 54.8 in February, up from January's 54.1.
February 3, 2022
The IHS Markit Purchasing Managers’ Index (PMI) fell to 54.1 in January from December's 55.6.
January 19, 2022
Consumer prices increased 0.02% over the previous month in December, coming in below November's 0.59% rise.