Money in United Arab Emirates

United Arab Emirates Money | Economic News & Forecasts

United Arab Emirates - Money

Economic growth slowed in the second half of 2019, according to the Central Bank’s preliminary data. A marked deceleration in the hydrocarbon sector weighed on the outturn as OPEC+ production cuts suppressed oil output growth toward the end of the year. The non-hydrocarbon economy fared better in H2, however, accelerating strongly from the tepid growth seen in the first six months of the year. Particularly, a tightening private-sector labor market and expanding credit growth boosted output in the sector. Turning to Q1 2020, although oil output rose year-on-year in January, slumping oil prices bode ill for the hydrocarbon sector, as does an impending price war following the collapse of OPEC+ talks in early March. Meanwhile, February’s non-oil PMI dropped to the lowest level on record, casting doubts on the sector’s ability to moderate the oil-driven slowdown.

United Arab Emirates - Money Data

2014   2015   2016   2017   2018  
Money (annual variation in %)7.9  5.5  3.3  4.1  2.5  

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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

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

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