Macroeconomic Forecast UAE

October 2008 | Macroeconomic Forecasts

The UAE will see a sharp contraction in its current account surplus in 2009. We are forecasting a full year figure of US$17.0bn, or 6.6% of GDP, down from the 22.2% that we are predicting for 2008. This is due to a combination of lower oil revenues and slower export growth - we see the trade surplus falling from US$89.5bn in 2008 to US$48.0bn in 2009.

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