This page has economic forecasts for the United Arab Emirates including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the the United Arab Emirates economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 1.72 2.1 2.8 2.8 2.8 3.2 percent
Inflation Rate 3.10 3.4 2.1 2.2 2.3 2.3 percent
Interest Rate 2.50 2.75 2.75 3 3.25 3.75 percent
Balance of Trade 315100.00 350000 422000 422000 422000 580000 AED Million
Government Debt to GDP 20.70 20.6 21.4 21.4 21.4 22.3 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 3.67
3.67 3.67 3.67 3.67 3.67
Stock Market 5069.41
points
4936 4892 4849 4807 4640
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate 0.80
percent
2.3 3.3 3.3 3.3 3.5
GDP 382.58
USD Billion
390 415 415 415 425
GDP Constant Prices 1422210.35
AED Million
1223405 1469143 1469143 1470086 1325596
Gross Fixed Capital Formation 317161.34
AED Million
375000 327628 327628 313115 430000
GDP per capita 41197.17
USD
41200 42300 42300 42300 43100
GDP per capita PPP 67293.48
USD
68300 69500 69500 69500 71100
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 1.72
percent
2.1 2.8 2.8 2.8 3.2
Population 9.40
Million
9.5 10.2 10.2 10.2 10.4
Employment Change 1.20
Percent
2.64 2.9 2.81 2.84 2.83
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 3.10
percent
3.4 2.1 2.2 2.3 2.3
Consumer Price Index CPI 110.93
Index Points
113 114 114 113 118
Food Inflation 3.20
percent
3.1 1.9 2.5 2.3 2.5
Inflation Rate Mom -0.60
percent
0.2 0.2 0.3 0.2 0.7
CPI Housing Utilities 108.06
Index Points
117 115 113 111 122
CPI Transportation 116.48
113 115 120 119 118
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 2.50
percent
2.75 2.75 3 3.25 3.75
Money Supply M0 83200.00
AED Million
87000 88300 89600 90800 95000
Money Supply M1 484200.00
AED Million
510000 522500 526500 529000 550000
Money Supply M2 1291100.00
AED Million
1315000 1318000 1319000 1320000 1390000
Money Supply M3 1579800.00
AED Million
1595000 1610000 1630000 1650000 1780000
Banks Balance Sheet 2715.90
AED Billion
2682 2730 2760 2790 3055
Loan Growth 3.70
percent
2.7 2.9 2.8 2.7 4.1
Loans To Private Sector 780370.00
AED Million
754000 776000 768000 772500 780900
Interbank Rate 2.85
percent
2.98 2.98 3.23 3.48 3.98
Central Bank Balance Sheet 386.40
AED Billion
410 405 420 440 580
Foreign Exchange Reserves 329.50
AED Billion
334 339 342 344 420
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 315100.00
AED Million
350000 422000 422000 422000 580000
Exports 1169500.00
AED Million
1200000 1280000 1280000 1280000 1420000
Imports 854400.00
AED Million
860000 858000 858000 858000 920000
Current Account 971000.00
AED Million
87900 112000 112000 112000 135000
Current Account to GDP 7.30
percent
7 7.7 7.7 7.7 5.5
Gold Reserves 7.50
Tonnes
7.7 7.8 8 8.1 8.5
Crude Oil Production 3270.00
BBL/D/1K
3080 3050 3000 2960 2920
Terrorism Index 0.21
0.2 0.3 0.3 0.3 0.2
Weapons Sales 72.00
USD Million
79 81 81 81 80
Foreign Direct Investment 38000.00
AED Million
39500 41550 41550 41550 43800
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 20.70
percent
20.6 21.4 21.4 21.4 22.3
Government Budget -2.60
percent of GDP
0.5 1.2 1.2 1.2 1.3
Government Spending 152794.22
AED Million
162028 157836 157836 170874 167118
Military Expenditure 24399.90
USD Million
26100 26100 26100 26100 30000
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Manufacturing PMI 55.00
56 55 55.3 55.5 58
Changes in Inventories 81229.05
AED Million
85000 92000 92000 92000 91000
Internet Speed 8570.97
KBps
9513 9686 9438 9558 9568
IP Addresses 1353580.00
IP
1320287 1321688 1326748 1328863 1333403
Competitiveness Index 73.37
Points
73.87 73.87 73.87 73.87 76.37
Competitiveness Rank 27.00
27 27 27 27 27
Ease of Doing Business 11.00
20 19 19 19 17
Corruption Index 71.00
Points
71 71 71 71 71
Corruption Rank 21.00
21 21 21 21 21
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 116.00
Index Points
110 109 106 107 109
Consumer Spending 426882.68
AED Million
465163 440970 440970 795758 508754
Private Sector Credit 1142099.00
AED Million
1141000 1143500 1145500 1147000 1190000
Consumer Credit 328915.00
AED Million
33500 33600 33700 33800 34000
Gasoline Prices 0.68
USD/Liter
0.67 0.66 0.64 0.63 0.59
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 0.00
percent
0 0 0 0 0
Personal Income Tax Rate 0.00
percent
0 0 0 0 0
Social Security Rate 17.50
percent
17.5 17.5 17.5 17.5 17.5
Social Security Rate For Companies 12.50
percent
12.5 12.5 12.5 12.5 12.5
Social Security Rate For Employees 5.00
percent
5 5 5 5 5
Sales Tax Rate 5.00
percent
5 5 5 5 5
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 7.58
mm
3.87 14.05 4.74 4.74 5.96
Temperature 20.76
celsius
24.32 20.73 34.41 32.36 28.37



United Arab Emirates - Economic Forecasts - 2018-2020 Outlook