UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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The UAE is the third emerging economy in exporting creative services globally report says

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A report  issued by the United Nations Conference on Trade and Development (UNCTAD) yesterday  as UAE topped regionally and ranked third globally among the most emerging economies exporting creative services, according to the “Creative Economy Outlook 2022” 

UAE has outperformed Hong Kong, Singapore, Russia, India, Brazil, Malaysia, Turkey and Thailand in creative services exports. 

In  this, The value of the UAE’s exports of creative services in 2020 amounted to about $5.94 billion, or 9.6% of the country’s total service exports during the same year and about 0.6% of the total exports of creative services worldwide. 

With regard to creative goods, the UAE ranked first in the Arab world and ninth globally on the list of emerging economies exporting creative goods in 2020. The value of creative goods exported by the UAE in that year was $9.21 billion, representing 2.8% of the total merchandise exports of the UAE during the same year, and by 1.8% of the total exports of creative goods globally in the same year.

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