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FINANCIAL NEWS
UAE posts 19 points fall in trade confidence over H2
08 Dec 2015
(MENAFN) The trade confidence score in the UAE declined by 19 points in the last two quarters as opposed to the first two quarters, which presents a bad viewpoint for the near future.
However, the projections expect a solid recover in the next 12 to 18 months, considering its crucial position as a trading hub between the East and West, not to mention its diversified status.
The present plunging trend is mainly credited to an estimated rise in the risk of buyers and suppliers not honoring agreements, reflecting the impact of lower oil prices and a slumping economy.
Moreover, rising dollar to which the UAE dirham is pegged to is also harming the trade confidence with 56 percent of respondents expecting exchange rates to have a favorable impact on import and export business.
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