(last updated on June 20, marked *) ------------------------------------------------------------------------------- KEY INTEREST RATES REPO LIQUIDITY SUPPORT FACILITY rate 1.00 pct 1.50 pct last change Jan 18, 2009 Aug 31, 2009 former rate 1.50 pct 2.50 pct =============================================================================== *UAE GDP (real, pct) (Y/Y) 2012 2011 2010 4.4 3.9 1.7 (constant 2007 prices, pct) (Y/Y) Final consumption 8.6 0.1 (10.3) 2.0 (3.4) Gross fixed capital formation 12.5 (9.8) 4.6 (7.3) -0.1 (-2.5) Foreign trade Exports of goods, services 10.0 19.7 (30.7) 2.5 (11.5) Imports of goods, services 16.6 18.8 (21.8) 2.1 (10.4) (nominal, bln AED) 1,409.5 1,280.2 1,055.6 NOTE. 2012 preliminary estimates, 2011 and 2010 revised, previously reported figures in brackets. ABU DHABI GDP 2011 2010 2009 (nominal, bln AED) 806.0 620.3 535.3 pct change 29.9 15.9 -24.1 Non-oil activities 334.3 312.3 296.3 (real, bln AED) 606.6 567.9 551.5 pct change 6.8 3.0 -4.9 NOTE. Source: Statistics Centre Abu Dhabi. 2011 and 2010 preliminary. DUBAI GDP 2012 2011 2010 2009 (real, pct) (Y/Y) 4.4 4.3 2.4 -2.4 Wholesale, retail trade 2.3 5.8 4.5 -0.9 Transport, storage 7.3 2.7 9.2 7.4 Real estate 1.7 -2.7 -2.6 -19.8 Manufacturing 13.0 11.8 10.1 6.2 Construction -4.2 -5.7 -14.7 -19.5 Government services 0.1 6.9 5.8 49.5 (real, bln AED) 318.4 305.0 (306.2) 293.6 285.7 (nominal, bln AED) n/a 315.7 303.6 294.2 NOTE. Source: Dubai Statistics Center; Does not include data for non-profit organisations. UAE CONSUMER INFLATION 04/13 03/13 04/12 pct change month/month 0.0 0.1 0.1 pct change year/year 0.9 1.0 0.8 ABU DHABI 05/13 04/13 05/12 pct change month/month 0.3 -0.2 0.2 pct change year/year 0.7 0.6 1.7 *DUBAI 05/13 04/13 05/12 pct change month/month 0.4 0.1 0.3 pct change year/year 1.0 0.9 -1.2 NOTE. Sources: National Bureau of Statistics, Statistics Centre Abu Dhabi, Dubai Statistics Center UAE PUBLIC FINANCE BALANCE 2011 2010 2009 2008 Revenue (bln dirhams) 379.9 297.0 235.4 430.6 -- crude oil n/a 239.3 174.1 361.5 -- tax n/a 17.3 18.4 17.7 Expenditure 343.7 329.0 404.6 275.0 -- current n/a 255.0 291.7 191.6 -- wages & salaries 35.3 33.4 32.7 29.0 -- subsidies & transfers n/a 37.9 45.5 41.2 -- development 45.6 38.7 45.1 31.5 Balance 36.2 -32.0 -169.2 155.6 -- pct of GDP 2.9 -3.1 -17.7 13.5 NOTE. Source: UAE Finance Ministry for 2011, National Bureau of Statistics for 2008 - 2010. Consolidated figures. GDP percentage is a Reuters calculation based on government data. ABU DHABI GOVERNMENT BUDGET 2011 2010 2009 2008 Revenue (bln dirhams) 280.930 192.173 147.088 305.715 -- hydrocarbon 261.490 169.128 121.775 269.586 -- crude oil royalties & taxes 251.217 162.089 116.817 259.227 Expenditure 314.733 260.174 263.804 187.313 -- development 27.373 23.763 27.635 13.211 -- subsidies & transfers 33.662 25.658 27.597 21.784 -- transfers to Dubai 9.923 11.000 12.129 0.0 -- federal services 80.340 72.739 55.924 45.552 Balance -33.802 -68.001 -116.716 118.401 Budgeted oil price ($/barrel) n/a 60 40 80 NOTE. Source: Abu Dhabi Department of Finance; IMF; federal services are mainly defense and security outlays not included in federal accounts, 2011 estimated. DUBAI GOVERNMENT BUDGET 2013 2012 2011 2010 Revenue (bln dirhams) 32.620 30.431 32.283 (29.906) 29.868 (29.411) -- oil & gas 3.916 3.500 5.477 (2.508) 5.014 (2.800) -- fees 20.128 18.331 18.219 (18.446) 15.912 (16.700) -- enterprise profits 1.000 2.000 0.600 (2.000) 1.885 (2.000) -- taxes & customs 7.576 6.600 7.987 (6.952) 7.056 (7.911) Expenditure 34.120 32.258 35.982 (33.684) 35.890 (35.401) -- development 5.620 5.906 7.086 (7.450) 8.852 (10.682) -- subsidies & transfers 3.800 2.277 5.769 (2.672) 5.357 (3.094) Balance -1.500 -1.827 -3.700 (-3.778) -6.022 (-5.990) NOTE. Source: Dubai Department of Finance; 2013 and 2012 initial approved budget; 2011 and 2010 actual; 2011 and 2010 budget plans in brackets. The budget is prepared on a cash basis and does not consolidate budget data for government-related entities (GRE) except for dividend income from Dubai's sovereign wealth fund ICD. 2011 actual figures unaudited. *Expenditure of the Dubai Financial Support Fund (DFSF) reached an estimated 19.223 billion dirhams in 2011, after 14.673 billion in 2010 and 48.854 billion in 2009, according to the IMF based on government data. The neighbouring emirate of Sharjah plans to spend 11.6 billion dirhams in 2012. UAE FEDERAL GOVERNMENT BUDGET 2013 2012 2011 2010 Revenue & grants (bln dirhams) 44.6 41.4 40.864 39.799 Enterprise profits n/a n/a 5.964 3.204 Other fees and charges n/a n/a 21.463 24.524 Grants from emirates n/a n/a 13.437 12.071 Expenditure & grants 44.6 41.8 43.787 39.592 Wages & salaries n/a n/a 13.355 13.187 Subsidies & transfers n/a n/a 13.425 9.460 Balance 0.0 -0.4 -2.923 0.207 NOTE. Source: Finance Ministry, IMF. 2013 and 2012 plans. 2011 estimated, 2010 actual. UAE GOVERNMENT GROSS DEBT 2011 2010 2009 2008 (pct of GDP) 17.8 (16.9) 22.3 (21.3) 23.4 12.5 NOTE. Source: IMF; Consolidated accounts of the federal government and the emirates of Abu Dhabi, Dubai and Sharjah. UAE BALANCE OF PAYMENTS 2012 2011 (AED billion) I CURRENT ACCOUNT 244.42 187.11 (112.69) Trade balance (FOB) 470.94 391.47 (291.95) Hydrocarbon exports 433.65 409.88 II+III CAPITAL & FIN. ACCOUNT -145.75 -109.15 (-60.35)
Direct investment 24.76 20.20 UAE abroad -10.50 -8.00 Into UAE 35.26 28.20 NOTE. Source: Central Bank; 2012 preliminary estimates, 2011 revised, previous figures in brackets. UAE CURRENT ACCOUNT BALANCE 2012 2011 (pct of GDP) 17.3 14.6 NOTE. Source: Reuters calculations based on official data UAE NON-OIL TRADE 01-08/12 01-08/11 pct change (in bln AED) Exports 112.8 75.5 49 Re-exports 133.5 n/a -7 Imports 431.7 388.4 11 NOTE. Source: UAE Federal Customs Authority DUBAI TRADE 01-12/12 pct change (in bln AED) Exports 163 47 Re-exports 334 5 Imports 737 12 NOTE. Source: Dubai Customs; Dubai Statistics Center; data preliminary. UAE MONEY SUPPLY END-APRIL 13 END-MARCH 13 END-APRIL 12 M1 change yr/yr (pct) 17.4 16.8 9.5 M2 change yr/yr 5.8 4.0 1.0 M2-M1 pct change yr/yr 0.0 -2.0 -2.7 M3 pct change yr/yr 9.7 7.1 -0.6 Loans & advances yr/yr* 4.7 4.8 1.7 NOTE. Source: Central Bank; data for 2013 estimates subject to revision, * net of provisions. UAE C.BANK FOREIGN CURRENCY ASSETS DEC 12 NOV 12 DEC 11 bln dirhams 205.19 201.85 169.38 deposits 65.97 56.14 58.57 foreign securities 94.99 104.07 72.30 NOTE. Source: Central Bank; Data as of the end of the period. 2012 and 2011 figures are provisional and subject to revision. Assets include Dubai government bonds worth 36.72 billion dirhams. ((Economic forecasts for the UAE and other Gulf Arab countries atGULFPOLL1 )) (Compiled by Martin Dokoupil) ((Martin.Dokoupil@thomsonreuters.com)(+971 4 362 5832)(Reuters Messaging: martin.dokoupil.thomsonreuters.com@reuters.net)) Keywords: EMIRATES INDICATORS/
