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FINANCIAL NEWS
UAE’s 2012 BoP posts USD9.96b surplus: CB
28 May 2013
(MENAFN) The UAE’s Central Bank stated that the country’s balance of payment (BoP) in 2012 posted a surplus of around USD9.96 billion, up from USD4.40 billion a year earlier, reported Emirates 24/7.
The bank said that the figure resulted from a rise in oil prices that hit almost USD110 per barrel.
It added that total hydrocarbon shipments grew to nearly USD117.85 billion from USD111.31 billion a year before, while total exports hit USD349.7 billion compared with USD301.8 billion in 2011.
Moreover, imports surged to almost USD221.76 billion from the USD195.34 billion recorded a year earlier.
Thus, the current account balance in 2012 grew to USD66.51 billion, compared with USD50.92 billion.
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