Industry in United Arab Emirates

United Arab Emirates Industry | Economic News & Forecasts

United Arab Emirates - Industry

Economic activity was likely tepid in the second half of last year, although comprehensive data is still yet to be released. Non-oil private sector activity looks to have slowed, with the associated PMI slumping since the middle of the year on dissipating demand; however, gross credit lending expanded year-on-year in the same period. Oil output generally picked up in annual terms through end-2019, boding well for the all-important oil sector, but reflected marginal over-production with regards to agreed-upon OPEC+ production cuts. Turning to Q1 2020, soft dynamics seem to have carried over from the previous quarter, with January’s non-oil PMI signaling the sharpest deterioration in business conditions since August 2009. On a more positive note, a vast gas field measuring around 80 trillion cubic feet was discovered in the UAE in February, boding well for energy self-sufficiency.

United Arab Emirates - Industry Data

2014   2015   2016   2017   2018  
Industrial Production (annual variation in %)0.9  6.8  4.3  -1.0  -     

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United Arab Emirates Industry Chart

UAE Industry
Note: Annual variation of industrial production in %.
Source: National Bureau of Statistics.

United Arab Emirates Facts

Value Change Date
Exchange Rate3.670.0 %Dec 31
Stock Market0.10.75 %Jan 07

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