Trade Balance in United Arab Emirates
United Arab Emirates - Trade Balance
The economy seemingly started to recover in the third quarter, after the second quarter’s sharp contraction. In September, the PMI moved back into expansionary territory and recorded the best reading in 11 months, signaling an improvement in the business conditions of the non-oil private sector. However, the reading showed that employment levels continued to decrease, albeit at a slower pace than in August. Moreover, oil production hit a near-decade low in Q3, amid constrained output and low global prices, likely weighing on government finances. Additionally, the sharp increase in new Covid-19 cases through September–October poses a threat to the recovery, as restrictions could be tightened again. In other news, on 20 October the UAE and Israel struck a preliminary deal for the oil exporter to send oil directly to Europe via an Israeli pipeline, boding well for the UAE’s oil exports.United Arab Emirates - Trade Balance Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | 76.6 | 68.4 | 67.2 | 85.6 | 74.8 |
United Arab Emirates Trade Balance 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: Consumer prices record joint-smallest fall since March 2020 in January
April 6, 2021
Consumer prices increased 0.15% in January over the previous month, accelerating from the 0.09% rise seen in December.
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United Arab Emirates: PMI increases to 20-month high in March
April 5, 2021
The IHS Markit Purchasing Managers’ Index (PMI) increased to its highest value since July 2019 in March, clocking in at 52.6, up from February’s 50.6.
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United Arab Emirates: PMI falls to three-month low in February, but remains in expansionary territory
March 3, 2021
The IHS Markit Purchasing Managers’ Index (PMI) ticked down to a three-month low in February, clocking in at 50.6 and down from January’s 16-month high of 51.2.
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United Arab Emirates: PMI remains at 16-month high in January
February 3, 2021
The IHS Markit Purchasing Managers’ Index (PMI) was stable at 51.2 in January, matching December 2020’s print.
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United Arab Emirates: Consumer prices record joint-smallest fall since April in December
February 3, 2021
Consumer prices increased 0.09% in December over the previous month, swinging from the 0.11% fall seen in November.
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