UAE poised to record large external surpluses in 2014−15 | GulfNews.com

UAE poised to record large external surpluses in 2014−15 | GulfNews.com:



"The UAE posted a current-account surplus of $65 billion (Dh239.07 billion) in 2013, and should maintain large surpluses over the next two years thanks to elevated global oil prices, said Bryan Plamondon, Senior Economist, IHS Economics.



Country’s current-account surplus held strong at $64.7 billion (16 per cent of GDP) in 2013, following an upwardly revised surplus of $69 billion (18 per cent of GDP) in 2012.



The foreign trade surplus reached a new high last year, as elevated oil prices, higher output, and strengthening external demand helped drive 8.3 per cent growth in exports."



'via Blog this'