The UAE economy started to recover in 2010, though more modestly than in neighboring GCC countries. Benefiting from higher oil prices and strong demand from traditional trading partners in Asia, real GDP grew by an estimated 3.2 percent in 2010.
Nevertheless, because of the real estate overhang and continued uncertainties about the solvency of GREs, growth remained below the regional average of 5 percent. The 12-month consumer price (CPI) inflation rate was subdued at 1.7 percent in December 2010, up from -0.3 percent at end-2009.
Click to see how the UAE economic recovery is progressing.
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