Uae economic outlook pdf portfolio

Kuwait, oman, qatar, saudi arabia and the united arab emirates, has. A weak real estate sector is a drag on economic growth and poses financial stability issues. Uae economic growth momentum at turning point, says imf around 3 per cent growth rate forecast for 202021 on expo, government stimulus and higher oil prices dark clouds over the the springs, dubai. The uae is yet to fully develop its capacity for a comprehensive measurement and analysis of household welfare across its seven emirates. Positive outlook for uae economy in 2019 filed on january 5, 2019 the uae s real gross domestic product is expected to grow 3. Emirates palace, abu dhabi agenda day one tuesday, december 8th. Oil production capacity is expected to increase and the strength of the nonoil economy will boost prospects particularly later in the forecast period as megaproject implementation ramps up ahead of dubais hosting of expo 2020 expected to draw in 25 million visitors. Middle east q2 2018, the uae economy is set to recover from a difficult year in 2017, when growth slowed to a sevenyear low last year at only 1. Gcc macro economic outlook 7 the outlook for the gcc economies at the start of 2018 is constructive.

The world economic situation and prospects 2019 is a joint product of the. Positive outlook for uae economy in 2019 news khaleej. Emirates nbd research provides detailed coverage of 16 gcc and mena economies, analysing them from a top down macro and strategic perspective as well as by a bottom up sector by sector approach. Imf forecasts economic recovery for middle east economies in 2018 uae economy to grow 3. Uae economic outlook aims at highlighting the economic forecast reports which observe the economic development outlook in the uae in general, and abu dhabi and dubai in particular. Global investment outlook 2018 first abu dhabi bank.

The economic outlook is expected to moderate amid lower oil prices. Moodys subscribers can access this report via the link at the end of this press release. But the real gdp growth rate is expected to fall from its current level of growth. Uae economic outlook 2015 towards a knowledge based economy. Lastly, the paper tries to single out the new business sectors for the diversification and the development of the uae s economy. Innovation and entrepreneurship for sustainable growth and diversification.

While the uae has not released economy wide numbers for the second quarter, the purchasing managers index pmi and other indicators of economic sentiment suggest that nonoil growth maintained its momentum from 2018 through at least mid2019, while a 7% decrease in oil production weakened growth in the oil sector. The international monetary fund imf has revised the uae s economic growth outlook downwards from the october 2018 forecasts. After outpacing the rest of the gcc in economic growth in 2017, the uae is set to almost double its expansion rate in 2018, the latest report by a panel of economists reveals. Economic diversification with an aim to reduce the contribution from the oilrelated sectors for example, abu dhabi aims to reduce such contribution from over 50% of its gdp in 2011 to 36% in 2030, the uae strives to diversify its economy by developing trading, financial.

Under article iv of the imfs articles of agreement, the imf holds bilateral discussions with members, usually. United arab recent developments emirates monetary policy is. This page has economic forecasts for the united arab emirates including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the the united arab emirates economy. Fund expenses, including management fees and other expenses were deducted. Abu dhabi and dubai announce packages to bolster economic activity, published on 7 june 2018. In the region, iran will be the worst hit country, contracting 6. Equity strategy expect high single digit returns in the us and low teen returns in ems. Beyond 2017, overall gdp growth is expected to recover to 2. The uae s economy continues to slow down as a result of low oil prices and fiscal consolidation weighing on nonoil growth.

The present report examines the healthiness of the uae economy, focusing throughout on selected macroeconomic indicators. In the face of unprecedented global change, the uae as a nation has remained steadfast and consistently buoyant in creating new opportunities for growth, while quickly addressing challenges and immediately finding solutions. The attacks on saudi oil facilities took place as this report was going to press we continue to monitor the situation and any wider implications closely. Sharjahs economic outlook, united arab emirates, snapshot. United arab emirates economic forecasts 20202022 outlook. Dubai exports, the export promotion agency of the department of economic development in dubai, was created to ensure the success of the exports sector in dubai and the uae, providing constant guidance, advice and practical support to both buyers and suppliers. The economy is driven in most part by consumption, with constrained contribution from investments and negative performance of the external sector. Gcc bonds present opportunities as the benefits of recent reforms and the relatively neutral performance over the past 12 months signal an upward trend. Uae economic outlook 2017 getting a head start on tomorrow.

Following its brief economic recession in the year prior, related to the global economic crisis, the uae returned to surplus in 2010. One of the main lessons of the recent global economic crisis for the emerging market economies. Cio office investment outlook 2018 best bank in dubai. The uae continues to be a strategic hub, with businessfriendly free zones and a quickly growing economy. A break in the clouds global gdp growth is poised to rise moderately from 3. During the last decade the uae economy has shown steady growth and the value of total gdp has more than doubled. Following a strengthening of uae real gdp growth to 5. Inflows of portfolio investment should increase the scope of financing for both the public and private sectors. Business and management uae economic outlook economy september 2010 uae economic outlook 2010 uae economic outlook 2010 gdp expected to grow in 2010 inflation expected to drop to 0. Outlook for uae economic growth improves, poll says the. The economy of sharjah has a relatively diverse production base and is not directly dependent on oil and gas. The research is an update to the markets and does not constitute a rating action. As per imf estimates, uae is expected to double its gdp growth rate in 2018 to around 3. While most of the increase in spending is expected to come from abu dhabi, other emirates in the uae will.

The banking industry in the uae the banking sector in the uae is quite fragmented, with the market currently being served by 23 domestic banks and 28 foreign banks. The uae will remain politically stable in 202024, despite regional tensions centred on iran. Caribbean, mna middle east and north africa, sar south asia, ssa subsaharan africa. Restrictions on movement of people, goods and services, and containment measures such as factory closures have cut manufacturing and. Download historical data for 20 million indicators using your browser. Economy profile of united arab emirates doing business 2020 indicators in order of appearance in the document starting a business procedures, time, cost and paidin minimum capital to start a limited liability company. The short term outlook of the uae economy is expected to be fairly favorable, because of rapid development in the fields of construction, manufacturing and tourism. United arab recent developments gres and higher fees. As we look ahead, it is notable that the region will be hosting two major global events in 2020. Economic insight reports are produced with icaews partner oxford economics, one of the worlds foremost advisory firms. As part of a globalized economy, it undoubtedly felt the impact of economic challenges of. It has maintained its position as the second largest economy in the arab world and one of the most important regional destinations for trade, investment and economic. Asset allocation strategic asset allocation the next decade page 15 tactical asset allocation the year ahead page 20. However, due to dramatic dip in oil prices, uaes gdp is expected to grow at a modest pace in 2015.

Economic indicators for the united arab emirates including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and shortterm predictions for the united arab emirates economy. United arab emirates economic outlook spring 2016 the latest mena economic monitor report spring 2016, expects the uaes growth to recover slowly, averaging 2. The uae is forecast to achieve an average real gdp. Economy profile united arab emirates doing business 2020 united arab emirates page 1. Outlook for the gulf and the global economy is a white paper written by the economist intelligence unit and sponsored by the qatar financial centre qfc authority. A quarterly economic bulletin on the middle east that builds on a range of publications we publish on the global economy and various countries and regions. By emirates, dubai and abu dhabi witnessed an increase in demand appetite for. Austerity measures weakened business and consumer confi. Uae economic growth momentum at turning point, says imf. Nobody knows how dubais economys been doing lately. United arab emirates gdp growth dips in 2016 as fiscal austerity bites. Real gdp growth rate and population growth rate in dubai %. Imf forecasts faster uae growth driven by expo 2020.

For further details, please see our recent note uae economic update. Cbuae showed that factors such as quality of bank asset portfolio, economic outlook, and change. Mar 23, 2015 economic projections based on economic data, it can be stated that uae economy is getting diversified whereby nonoil sectors are starting to contribute more with time. Current strengths and weaknesses of the uae economy. Imf forecasts economic recovery for middle east economies. Sharjahs economic outlook the emirate of sharjah, the uae s 3rd largest emirate both in terms of economy and population, has shown an average gdp growth of 6% a year from 2010 to 2015. In line with recovery in other parts of the region, uaes economy will continue to gain momentum in 2018, driven by an expanding nonoil sector, policy recalibration, and massive infrastructure investments. China and india are the only bright spot in imfs 2020 forecast, growing by 1. Nobody knows how dubai s economy s been doing lately. Uae economic growth to accelerate in 2018 and 2019 zawya. This should help the region grow and develop despite turbulence in the oil market.

Downward pressure on oil prices, airtravel demand and tourism levelswith the key expo 2020 event at riskwill all hit growth prospects. However, the drivers of economic growth do not withstand the external shocks of the global economic slowdown. The economy of the united arab emirates or uae is the second largest in the middle east after saudi arabia, with a gross domestic product gdp of usd 414 billion aed 1. Extensive coverage of historical and forecasted global economic data, integrated with some of the industrys leading fundamental transactions and pricing data. Global growth is projected to rise from an estimated 2. Table 2 united arab emirates macro poverty outlook indicators annual percent change unless indicated otherwise 2016 2017 e f f f s 0 8 6 6 0 2 on 6 3 5 0 1 3 on 1 4 0 5 6 8 t 86 0 2. Dubai s oil and gas sector is relatively insignificant to its economy. The uaes procyclical fiscal policy ex acerbates the economic cycle. The impact of the covid19 outbreak on economic prospects is severe growth was weak but stabilising until the coronavirus covid19 hit. A possible transfer of power in abu dhabi from the current ruler, who is in poor health, to the crown prince will go smoothly.

Average gdp growth over 2000 to 2006 in the uae was about 8. Although dubai has traversed some challenging economic territory over recent years the economic stimulus of expo 2020 preparation and more stable oil prices have eased this strain in 2019, and business sentiment has improved accordingly. The economy continues to experience a slowdown in economic growth as a result of low oil prices. It has maintained its position as the second largest economy in the arab world and one of the most important regional destinations for trade, investment and economic activities. Despite recent fluctuations in oil prices and the global economic recession, the uae enjoyed a stable economy. Manuals, guides, and other material on statistical practices at the imf, in member countries, and of the statistical community at large are also available. Middle east, north africa, afghanistan, and pakistan. The latest regional economic outlook explores how these institutions relate to fiscal outcomes. Join us for a celebration of 175 years of making an impact that matters. Oil outlook 8 we forecast brent oil futures at an average of usd 56b in 2018. The imf publishes a range of time series data on imf lending, exchange rates and other economic and financial indicators.

Palazzo versace, gala ballroom, dubai building on the 2016 outlook focus on the role of innovation in promoting competitiveness, uae. Table 2 united arab emirates macro poverty outlook indicators annual percent change unless indicated otherwise 2015 2016 2017 e 2018 f 2019 f 2020 f real gdp growth, at constant market prices 3. Each emirate has an independent statistics agency, and while the federallevel statistical bureau was established in 2009, the harmonization of meth. A possible transfer of power in abu dhabi from the current ruler, who. World economic situation and prospects 2019 unctad. The country has experienced significant economic growth. This report attempts to assess the likely impact of tight monetary policy on the uae economic outlook and the possible channels of transmission. To discuss the implications of global and regional economic trends and prospects for the uae economy. Imf forecasts economic recovery for middle east economies in. The uae economic report can be accessed via internet at the following. Their analytical tools provide unparalleled ability to forecast economic trends.

The economic outlook remains expansionary in the foreseeable future to support the diversification program, which will continue to have a positive impact on the banking sector as the backbone of the economy. Uae economy of a potential agreement to renegotiate the. Coronavirusrelated economic disruptions are the key risks to the outlook. The direct impact on the uae economy through airline traffic, tourism, real estate investment, and the financial sector is expected to be limited as trade with qatar accounts for less than 1 percent of the uae s total trade. Uae economic growth set to double news khaleej times.

United arab emirates united kingdom united states venezuela africa. Business village is 800m walk from deira city center metro station. United arab emirates economic growth economic growth is expected to decelerate this year as stagnating output will weigh on the oil sector. Our team has expertise to help you assess the impact of this outlook on your portfolio and put a plan in place for a brighter tomorrow. According to icaews latest report economic insight. Our macroeconomic data includes both historical and forecast data on major economic indicators covering inflation, employment, gdp, balance of payments, trade, retail, and industrial. Uae economic outlook ambitious plans longer term, the economy will bene. Significant reliance economic supply is on agriculture with relatively more limited industrial output. The uae s economic outlook remains stable, despite a slowing global economy, trade disputes, softer energy demand and heightened geopolitical tensions, according to research published by the. Economic forecasts, economic risk assessment, historical economic performance, econometric modeling, enterprise risk, coronavirus with the rapid deterioration in the global economy as a result of the covid19 pandemic, mark zandi and the moodys analytics team present an update to our economic outlook.

United arab emirates a new growth model is needed iif. Innovation and entrepreneurship for sustainable growth and diversification date. Dubai fdi, part of the department of economic development in dubai. In recent years, the uae economy has continued to record growth in real. The uaes economy slowed last year according to recently released figures from the federal competitiveness and statistics authority fcsa, in line with other countries across the middle east. A free bus shuttle service runs from business village to deira city center metro station from 07. This increase in growth was driven by investment recovery in advanced economies, continued strong growth in emerging asia, a notable upswing in emerging europe, and signs of recovery in several commodity exporters. Can the uae avoid the oil curse by economic diversification. The report, banking system outlook united arab emirates.

Us government bonds remain appealing and we believe that they may sustain a range of 2. Economic diversification and a strong business environment will remain policy priorities. Recovering economy and resilient financial fundamentals drive stable outlook, is now available on. Macroeconomic overview the united arab emirates gdp increased by 0. Gulf region as global growth is an essential determinant of the economic outlook for the gulf region i.

The uae economy has proven its resilience and ability to sustain growth despite such pressures and economic difficulties. Banks incorporated in abu dhabi and dubai hold the lions share of total domestic assets. Outlook for uae economic growth improves, poll says. As challenges grow tougher, jobs get more complicated, and expectations of business and deloitte grow, the connections we make will be more important than ever. According to the cbos data, the sudanese economy grew by 5. Economic growth slowed in the second half of 2019, according to the central banks preliminary data. In view of the ambitious outlook of the economy and. The international monetary fund expects the united arab emirates economic growth to nearly triple next year as the countrys largest sheikhdom, abu dhabi, benefits from an expected recovery.