CBUAE Annual Report 2013

Source: Central Bank of UAE

INTERNATIONAL ECONOMIC TRENDS



The world economy grew by 3.0% in 2013. Within the group of major industrial countries, the rate of growth reached 0.5% in Germany, 1.9% in the USA, 1.5% in Japan, 1.8% in the United Kingdom, and 0.3% in France.

In the Euro Area as a whole, growth was negative (-0.5%) in 2013, while the group of Emerging Markets and Developing Economies grew by 4.7% (7.7% in China, 2.2% in the Middle East and North Africa, 2.8% in Emerging and Developing Europe, and 2.7% in Latin America and the Caribbean). In the group of Commonwealth of Independent States, Russia recorded an economic growth of 1.3%.

The inflation rate as measured by the percentage change in the consumer price index, decreased within the group of Advanced Economies from 2.0% in 2012 to 1.4% in 2013: 2.6% in the United Kingdom, 1.5% in the USA, 1.6% in Germany, and 1.0% in France; while in Japan inflation was 0.4% in 2013. In Emerging and Developing Asia, average inflation decreased from 4.6% in 2012 to 4.5% in 2013 (2.6% in China, 9.5% in India).

The volume of world trade in goods and services increased by 3.0% in 2013. In Advanced Economies, exports of goods and services increased by 2.3% and imports by 1.4%, while in Emerging Markets and Developing Economies, the increase was 4.4% and 5.6% in 2013, respectively.


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