Abu Dhabi - Mubasher: The Central Bank of the United Arab Emirates (CBUAE) achieved an increase in its total foreign assets by 4.2% month-on-month to an equivalent of AED 339.81 billion during February.
Current account balances and deposits with banks abroad increased from AED 254.91 billion in January to AED 266.530 billion in February.
The CBUAE also reported an increase in the state’s current account to AED 101 billion in 2017, with an increase of 108% year-on-year.
Economic growth in the UAE alongside the recovery in oil prices have helped raise the country’s trade surplus, as shown by the data of the central bank.
Emirati exports grew by 25.1% or around AED 32.9 billion, while imports went up by AED 22.3 billion, leading to a high trade balance surplus that reached 21.4% of the total GDP.
