UAE trade surplus to hit $72.5bn
United Arab Emirates: Thursday, May 15 - 2008 at 07:54
A new report by the International Monetary Fund said the UAE's current account balance is projected to grow by a record $24.2bn or 58% in 2008 to $65.9 billion while the country's balance of trade is set to jump 60% to $72.5bn in 2008, reported the Khaleej Times. In 2007, the UAE's current account balance rose by 16% to $41.7bn from $35.9bn in 2006. The surge in the current account balance was due to a record jump in exports of goods and services, analysts said.
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Jeff Florian, Senior ReporterThursday, May 15 - 2008 at 07:54 UAE local time (GMT+4)
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