Trade Balance in United Arab Emirates
United Arab Emirates - Trade BalanceConditions in H1 2022 should be robust so far. The oil sector benefitted from the combined effects of the gradual pickup in production through April and elevated prices. For the first time in two years, the UAE shipped oil to Europe, as the latter tries to move away from dependence on Russian oil. The non-oil sector likely contributed to a solid performance as well, as the PMI signaled continually strengthening conditions through April. Further, the UAE and Israel signed their first free trade agreement, reflecting increasing ties between the countries. Meanwhile, the UAE’s crypto-friendly stance is attracting business and could lead the UAE to become a crypto-hub. In politics, Sheikh Mohammed bin Zayed al-Nahyan—the former crown prince of Abu Dhabi—was named president of the UAE on 14 May, following his brother’s death. The transfer of power should not bring any changes in policy.
United Arab Emirates - Trade Balance Data
|Trade Balance (USD billion)||76.6||68.4||67.2||85.6||74.8|
5 years of economic forecasts for more than 30 economic indicators.
United Arab Emirates Trade Balance Chart
Source: Central Bank of United Arab Emirates.
United Arab Emirates Facts
|Exchange Rate||3.67||0.0 %||Dec 31|
|Stock Market||0.1||0.75 %||Jan 07|
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December 14, 2022
Inflation in Dubai reverted its recent downward trend and rose to 4.7% in November, up from the prior month’s 4.5%.
November 14, 2022
Inflation in Dubai eased for a third consecutive month in October; it moderated to a seven-month low of 4.5%, down from September’s 5.4%.
October 17, 2022
Inflation in Dubai softened for a second consecutive month in September, easing to 5.4%, down from August’s 6.0% reading.
April 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) came in at 54.8 in March, matching February's reading.
March 3, 2022
The IHS Markit Purchasing Managers’ Index (PMI) came in at 54.8 in February, up from January's 54.1.