Macroeconomic Forecast UAEJuly 2012 | Macroeconomic Forecasts
BMI View: Latest balance of payments data from the UAE central bank show the economy's external position remaining on firm footing, which is a situation we do not expect to change dramatically at any point in the near future. Record hydrocarbon revenues was the key factor pushing the current account surplus further into the black in 2011, which quadrupled in nominal terms to AED112bn (US$31bn), or approximately 9.4% of GDP. The UAE's external position will remain on solid ground over the coming years, with strong hydrocarbon revenues keeping the current account firmly in the black.
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