Industry in United Arab Emirates
United Arab Emirates - IndustryEconomic activity appears to have been robust in Q2, supported by a pick-up in oil production, recent pro-business reforms and solid activity in the non-oil sector. The PMI rose to its highest level of the year in June, while in the same month the UAE exceeded its OPEC oil production target for the first time in 2018. New policies implemented in recent months—including a visa reform in May, a joint investment plan with Saudi Arabia, a large stimulus package in Abu Dhabi, and several measures aimed at cutting red tape and increasing the ease of doing business—have also been supportive of business confidence, which hit the highest level on record in the June PMI. Moreover, while employment growth remained negligible throughout the quarter, it appears poised to increase in Q3 as backlogs of work have reached historic highs. On July 29, the Abu Dhabi government announced it would allow GCC nationals to apply for its business license scheme without requiring an office and increased the scope of eligible industries, in a bid to reduce firm set-up costs and further attract new businesses.
United Arab Emirates - Industry Data
|Industrial Production (annual variation in %)||3.6||0.9||6.8||4.3||-|
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 %||Aug 15|
|Stock Market||0.4||0.75 %||Aug 15|
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United Arab Emirates: PMI loses ground in July on weaker new business growth and sluggish employment
August 12, 2018
The Emirates NBD Purchasing Managers’ Index (PMI) fell to 55.8 in July from 57.1 in June.
July 30, 2018
Consumer prices increased 0.37% in June from the previous month, contrasting the 0.06% month-on-month fall observed in May.
United Arab Emirates: PMI edges up to six-month high in June as strong orders growth causes a surge in backlogs
July 3, 2018
The Emirates NBD Purchasing Managers’ Index (PMI) increased to 57.1 in June, up from 56.5 in May and logging its best performance since December 2017.
July 1, 2018
Consumer prices fell 0.06% in May from the previous month, a softer decrease than the 0.23% month-on-month fall observed in April.
June 5, 2018
The Emirates NBD Purchasing Managers’ Index (PMI) increased to 56.5 in May from 55.1 in April, on the back of higher domestic and regional demand which supported business activity.