United Arab Emirates: Recent Economic Developments
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).
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Volume/Issue:
Volume 1998
Issue 134
Publication date: January 1999
ISBN: 9781451801071
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Business and Economics , Banks and Banking , Exports and Imports , ISCR , CR , U , S , dollar , central bank , gross domestic product , exchange rate , net profit , nominal GDP , private sector , banking system , commercial bank , interest rate , Exports , Oil exports , Oil , Commercial banks , Imports , Global , Central Asia and the Caucasus , Baltics
Summary
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).
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