UAE surplus hits $67bn in 2012

The United Arab Emirates’ current account surplus jumped nearly 31 percent to 244.4 billion dirhams ($66.5 billion) in 2012 from the previous year as hydrocarbon exports rose, preliminary central bank data showed on Tuesday.

The surplus accounted for around 17.3 percent of the oil exporter’s 2012 gross domestic product, according to a Reuters
calculation based on the official data.

Analysts polled by Reuters in April expected the UAE current account surplus to shrink to 7.3 percent of GDP in 2013 and 5.0 percent in 2014.

- Reuters, MAy, 28 2013