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UAE’s current account surplus rose to 9.6% of GDP in 2018

UAE’s current account surplus rose to 9.6% of GDP in 2018

It attributed the increase mainly to higher oil prices

The current account surplus of the United Arab Emirates rose to Dhs139bn ($38bn) or 9.6 per cent of gross domestic product (GDP) in 2018, up from Dhs101bn or 7.2 per cent of GDP, the UAE central bank said on Sunday.

It attributed the increase mainly to higher oil prices, which rose from an average of $54.25 a barrel in 2017 to an average of $71 in 2018.

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