The UAE’s Current Account Balance Will Still Widen In 2024, Despite Extended Oil Supply Cuts
Country Risk / United Arab Emirates / Wed 05 Jun, 2024
Key View
- We have revised up our forecast for the UAE’s 2024 current account surplus from 10.8% of GDP previously to 11.8% of GDP, despite the extension of OPEC+ supply cuts, as we become more upbeat about services exports.
- In 2025, we now expect larger surplus of 11.0% of GDP against 10.4% previously due to a more pronounced increase in hydrocarbon