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What is UAE Economic Growth and Inflation Trends about?

During the 2000s, the UAE experienced strong economic growth averaging 12.2% annually due to surging oil prices which fueled higher government spending and construction. Inflation rose to 12.3% in 2008 from increasing oil revenues and commodity prices but fell to 1.6% in 2009 as real estate and commodity prices declined. The UAE runs substantial trade surpluses due to large oil export earnings, though the current account surplus fell in 2008-2009 as oil prices dropped and non-oil balances worsened.

Author

Faisal Ko

Language

EN