UAE current account surplus jumps to $11bn

Abu Dhabi, May 8, 2011

The United Arab Emirates' current account surplus jumped by 43 percent to Dh41.3 billion ($11.2 billion) in 2010 from the previous year.

The increase is mainly due to higher oil prices, preliminary central bank data showed on Sunday.

The surplus accounted for around 4.2 percent of the oil exporter's gross domestic product, according to Reuters' calculations, below analysts' forecasts of 6.5 percent.

Analysts polled by Reuters in March expected the UAE current account surplus to widen to 9.3 percent of GDP in 2011. -Reuters

Tags: UAE | economy | surplus | Current Account |