United Arab Emirates: Recent Economic Developments
January 7, 1999
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This paper reviews economic developments in the United Arab Emirates during 1995–98. Real GDP growth accelerated from about 5 percent in 1994 to 8.1 percent in 1995 and to 10.1 percent in 1996. However, 1997 saw a marked slowdown in real GDP growth, to an estimated 2.1 percent, reflecting mainly a decline in oil sector GDP. Over the period 1993–96, there was strong growth in non-oil GDP averaging 9½ percent per year, boosted by an exceptionally good performance in 1994 (12 percent).
Subject: Banking, Commercial banks, Commodities, Exports, Financial institutions, Imports, International trade, Oil, Oil exports
Keywords: Baltics, banking system, Central Asia and the Caucasus, central bank, commercial bank, Commercial banks, CR, exchange rate, Exports, Global, gross domestic product, Imports, interest rate, ISCR, net profit, nominal GDP, Oil, Oil exports, private sector, U.S. dollar
Pages:
98
Volume:
1998
DOI:
Issue:
134
Series:
Country Report No. 1998/134
Stock No:
1AREEA0011998
ISBN:
9781451801071
ISSN:
1934-7685
