Money in United Arab Emirates
United Arab Emirates - Money
The economy shrank 7.8% in annual terms in the second quarter, according to the UAE Central Bank’s estimate, while non-oil GDP is expected to have plunged 9.3% in Q2, following Q1’s 2.7% softer drop. The readings reflected the slump in activity caused by the pandemic and the measures introduced to contain its spread. Employment declined in the quarter and consumer prices also fell, as subdued global and domestic demand drove oil prices down. Additionally, outward remittances also declined in Q2. However, available data suggests that the economy began to recover in Q3, with a gradual pickup in oil production in July and August, and the partial reopening of borders in early September. Nevertheless, a rise in new Covid-19 cases throughout August and September could lead to a tightening of restrictions, which bodes ill for private consumption in Q4.United Arab Emirates - Money Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 5.5 | 3.3 | 4.1 | 2.5 | 7.9 |
United Arab Emirates Money Chart
Source: Central Bank of United Arab Emirates.
United Arab Emirates Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 3.67 | 0.0 % | Dec 31 |
| Stock Market | 0.1 | 0.75 % | Jan 07 |
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Economic News
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United Arab Emirates: Business conditions deteriorate at record pace in April
May 5, 2020
The IHS Markit Purchasing Managers’ Index (PMI) dropped to a new record low of 44.1 in April from 45.2 in March.
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United Arab Emirates: Consumer prices decline in March for 15th straight month
May 1, 2020
Consumer prices fell 0.89% month-on-month in March, following February’s 0.26% decrease.
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United Arab Emirates: Consumer prices decline in February for 14th straight month
April 14, 2020
Consumer prices fell 0.26% month-on-month in February, following January’s 0.09% decrease.
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United Arab Emirates: Business conditions deteriorate at record pace in March
April 5, 2020
The IHS Markit Purchasing Managers’ Index (PMI) slumped to a record low of 45.2 in March from 49.1 in February.
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United Arab Emirates: Consumer prices continue to decline in January
March 3, 2020
Consumer prices fell 0.09% month-on-month in January, following December’s 0.23% decrease.
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