Money in United Arab Emirates

United Arab Emirates Money | Economic News & Forecasts

United Arab Emirates - Money

Growth was likely strong in the second quarter, as oil production expanded robustly in year-on-year terms—despite ongoing OPEC output cuts—which bodes well for the energy sector. The non-energy sector was also likely solid, as the PMI averaged higher in Q2 compared to Q1. This comes hot on the heels of a healthy first quarter, with increased oil output driving the energy sector and vigorous credit growth powering the private sector. Turning to the third quarter, the tapering of the PMI in July suggests growth will likely lose some steam. On the upside, oil output remained robust in the same month, reflecting maintenance works last year. Meanwhile, in late August, the government decided to halt the construction and financing of Dubai’s Al Maktoum airport project amid a stagnant tourism sector and subdued regional economic growth.

United Arab Emirates - Money Data

2013  2014  2015  2016  2017  
Money (annual variation in %)22.8  7.9  5.5  3.3  4.1  

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United Arab Emirates Money Chart

UAE Money
Note: Annual variation of M1 in %.
Source: Central Bank of United Arab Emirates.

United Arab Emirates Facts

Exchange Rate3.670.0 %Sep 04
Stock Market0.10.75 %Sep 04

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