The repercussions of the Covid19 on the overall indicators of the economy in the United Arab Emirates

Document Type : Original Article

Authors

1 PhD in Economics - Member of the Egyptian Association for Political Economy, Statistics and Legislation in Cairo

2 Master's Researcher in Economics - Faculty of Commerce - Ain Shams University

Abstract

The current study aimed to analyze the most important 
repercussions of the Covid 19 on the indicators of the UAE 
economy, in order to monitor the economic recovery policies 
adopted by it. Through the descriptive analytical approach, it was 
found that the economic repercussions of the Covid 19 have 
imposed a general closure on everyone, as theCovid 19 pushed 
the world into a complex crisis, which brought the global 
economy into a state of severe recession. The pre- Covid 19 
picture shows that the GDP reached at constant prices of the US 
dollar in 2010 in the UAE, from 198 billion dollars in 2000 to 
421 billion dollars in 2019. The rate of economic growth during 
the period (2000-2019) recorded an average of 4.2%. At the same 
time, the unemployment rate during the period (2000-2019) did 
not exceed 3%. The labor market participation rate is 83% in 
2019.
 The outbreak of the Covid 19 pandemic resulted in the UAE 
economy contracting by 7.8% year-on-year in the second quarter, 
according to estimates by the UAE Central Bank, while non-oil 
GDP is expected to have decreased by 9.3% in the second 
quarter, after the slightest drop of 2.7%. % In the first quarter. 
Foreign exchange reserves in the United Arab Emirates 
decreased to 353.12 billion dirhams in May from 371.58 billion 
dirhams in April of 2020. 

Keywords

International Journal of Multidisciplinary Studies on Management, Business, and Economy
Volume 5, Issue 2
December 2022
Pages 1-35

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