UAE’s GDP to grow by two percent in 2010
September 1st, 2010 - 7:35 pm ICT by IANSAbu Dhabi, Sep 1 (IANS/WAM) UAE’s gross domestic product (GDP) will grow by two percent this year, the Arab Monetary Fund (AMF) has said.
Developments in Abu Dhabi Securities Exchange and Dubai Financial Market indicated that the consolidated budget based on current oil prices will register a total surplus of 14 billion dirhams (about $3 billion), the AMF said in its Arab Capital Markets performance and economic indicators bulletin released Tuesday.
On the monetary and banking sector, the AMF said domestic liquidity (M2) in the first four months of the year grew by 1.4 percent to 750.7 billion dirhams, while combined assets of UAE banks rose less than one percent to 1.5 trillion dirhams.
“While private deposits surged slightly at one percent to 713.3 billion dirhams by April end 2010, loans and advances offered to private sector grew by less than one percent to 718.5 billion dirhams. Capital base went up 5.7 percent to 257.8 billion dirhams.
The report said UAE’s non-oil foreign trade rose 4.7 percent in first quarter of the year to 172 billion dirhams.
Non-oil exports rose 23.4 percent to 17 billion dirhams, while exports soared 12.7 percent to 40.9 billion dirhams.
–IANS/WAM
snb/dg
- Abu Dhabi posts $37 bn in non-oil foreign trade - Mar 06, 2012
- Abu Dhabi's foreign trade $29 bn in 2010 - Mar 05, 2011
- Dubai's non-oil trade surges to $156 bn in 2010 - Mar 07, 2011
- UAE, US hold talks - Jan 17, 2012
- UAE posts $599 mn trade surplus with India - Sep 04, 2010
- UAE's non-oil foreign trade reaches $133 bn in August - Nov 15, 2010
- India, UAE sign deal on customs cooperation - Apr 01, 2012
- Abu Dhabi hosts industry meet - Dec 19, 2011
- UAE, Western Australia keen to boost commercial cooperation - Jun 04, 2011
- UAE central bank announces increase in money supply - Mar 28, 2011
- UAE's mineral water export up 38 percent - Dec 11, 2011
- UAE trade minister meets Arab business delegation - Jan 21, 2012
- UAE's non-oil trade up 7 percent - Jun 30, 2010
- Germany is UAE's 5th largest trade partner - May 24, 2010
- UAE's exports to Saudi Arabia exceed $266 bn - Sep 04, 2010
Tags: abu dhabi, amf, arab monetary fund, banking sector, capital markets, consolidated budget, current oil prices, dg, dirhams, domestic liquidity, economic indicators bulletin, first quarter, four months, gdp, gross domestic product, months of the year, oil exports, securities exchange, trillion, wam uae