United Arab Emirates Economic Outlook
October 3, 2017The economy continues to expand at a moderate pace, with the non-oil sector powering growth. In August, the PMI reached its highest level in over two years on the back of greater domestic and external demand, leading to further employment growth. A testament to the country’s economic strength came in September, when the economy was ranked the 17th most competitive in the world in the 2017 Global Competitiveness Report published by the World Economic Forum (WEF). In response to the strengthening economy, the Central Bank removed excess liquidity from the banking system for the second consecutive month in August. However, despite its multiple strengths and diversified economic base, the UAE is still running a budget deficit as a result of low oil prices. In order to strengthen the fiscal position, new excise taxes on tobacco, energy and fizzy drinks came into force on 1 October.
United Arab Emirates Economy Data
5 years of United Arab Emirates economic forecasts for more than 30 economic indicators.
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United Arab Emirates Facts
|Exchange Rate||3.67||0.0 %||Oct 13|
|Stock Market||0.4||-0.08 %||Oct 12|
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United Arab Emirates Economic Growth
October 3, 2017The economy should pick up speed next year thanks to higher oil prices, stronger external demand and greater fixed investment in preparation for the Dubai 2020 World Expo. Met the why particular panelists expect GDP to rise 2.0% in 2017 and 3.1% in 2018, which is down 0.1 percentage points from last month’s forecast.
United Arab Emirates Economic News
October 3, 2017
The Emirates NDB Purchasing Managers’ Index (PMI) dipped from a multi-year high of 57.3 in August to 55.1 in September.
September 27, 2017
Consumer prices rose 0.07% in August compared to the prior month, contrasting July’s 0.52% drop.
September 19, 2017
Consumer prices dipped 0.52% in July on a month-on-month basis, contrasting June’s 0.56% increase.
August 25, 2017
The Emirates NDB Purchasing Managers’ Index (PMI) rose from 56.0 in July to 57.3 in August, the best result since February 2015.
August 3, 2017
The Emirates NDB Purchasing Managers’ Index (PMI) rose from 55.8 in June to a three-month high of 56.0 in July.