United Arab Emirates: Current account, percent of GDP

* indicates monthly or quarterly data series
 United Arab Emirates

Current account balance as percent of GDP

 Latest value 11.55
 Year 2021
 Measure percent
 Data availability 1980 - 2021
 Average 9.85
 Min - Max 0.05 - 24.18
 Source International Monetary Fund (IMF)
For that indicator, we provide data for the United Arab Emirates from 1980 to 2021. The average value for the United Arab Emirates during that period was 9.85 percent with a minimum of 0.05 percent in 1994 and a maximum of 24.18 percent in 1980. The latest value from 2021 is 11.55 percent. For comparison, the world average in 2021 based on 174 countries is -2.41 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
United Arab Emirates - Current account, percent of GDP - recent values

Historical chart
United Arab Emirates - Current account, percent of GDP - historical chart - 1980-2021




The current account of the United Arab Emirates and other countries has three components: 1) the exports of goods and services minus the imports of goods and services; 2) the difference of incomes that countries pay to each other; and 3) the difference in transfers that countries make to each other. Current account deficits are reported with a minus sign and surpluses are reported with a plus sign.

A current account deficit means that the country needs to find financing for its imports. The foreign currencies it receives from selling products abroad are not enough to pay for the products it wants to buy from other countries. The needed amounts of foreign currencies can be obtained by, for example, borrowing. For instance, in the last several years the U.S. has been borrowing money from China in order to buy Chinese products.

This is not necessarily a problem. The current account deficit starts to be a problem if it exceeds 3-4 percent of GDP for many years. Over that time, the country accumulates a significant amount of foreign debt that eventually has to be repaid.
Definition: Current account balance is the sum of net exports of goods and services, net primary income, and net secondary income.


 Related indicators Latest value Reference Measure
 Terms of trade 117.37 2021 percent
 Trade openness 166.57 2020 percent
 Financial openness 2.299 2021 index points
 Exports, percent of GDP 95.93 2020 percent
 Exports, billion dollars 335.24 2020 billion U.S. dollars
 Growth of exports -7.02 2020 percent
 Imports, percent of GDP 70.65 2020 percent
 Imports, billion dollars 246.89 2020 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 4.48 2022 percent
 Foreign Direct Investment, billion dollars 22.74 2022 billion U.S. dollars
 Current account, percent of GDP 11.55 2021 percent
 Trade balance, percent of GDP 25.28 2020 percent
 Reserves 138.43 2022 billion U.S. dollars
 Foreign exchange reserves 598.35 9/2023 billion
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