Abu Dhabi: The International Monitory Fund (IMF) estimated the average economic growth of the emirates at 3.6 per cent (2014), and expects 3.2 per cent in 2015, among the highest in the area.

Most recent published data by the National Bureau of Statistics of Abu Dhabi show that the gross total of the foreign trade of non-oil goods, of the UAE was Dh524.8 billion, during the first half of 2014. The imports amounted to 64.8 per cent of the gross (above-mentioned) amount, and exports of non-oil commodities amounted 12.1 per cent and the re-exported stood at 23.1 per cent.

Financially, the IMF expects a retreat from 12.1 per cent of the GDP of the surplus of current balance, in the UAE in 2014 to about 5.3 per cent in 2015, due to the decline in the international oil prices.

The records of the Ministry of Finance show that the actual performance of the budget over the first nine months of 2014 realised a surplus of Dh4.1 billion amounting to 10.4 per cent of the gross revenue during that period.

For banking and financial developments, and as per the figures of the Central Bank of the UAE, the monetary supply (N3), in the broad scene was Dh1.377 trillion, end of March 2015, reflecting a rise of 1.2 per cent over end of February 2015 figures of Dh1.361 trillion.

The gross bank deposit totalled 1.3 per cent, end of March 2015, in comparison to February figures, hence reaching Dh1.449 trillion.

Meanwhile the total bank credit rose to Dh1.410 billion, end of March, at 1.2 per cent compared to February. In local markets, and as per the data of the Abu Dhabi Securities & Commodities Authorities, the shares price index registered 4,476.9 points, end of March, retreating by 2.3 per cent compared to December 2014.

The IMF is expecting a retreat in the average inflation, on the general prices level, to about 2.1 per cent (2015) compared to 2.3 per cent (2014), where it registered record consumer prices in the state at about 124.7 points (March 2015) as per the Consumer Price Index in the UAE Report, issued by the National Bureau of Statistics of Abu Dhabi.

This lead to an increase in the average annual inflation on State level, registering about 4.3 per cent (Mar. 2015), so that the average inflation rate rose to about 3.9 per cent, on average (Q1 2015). Observers are expecting a retreat in the average of inflation, amid corrective measures on the level of real estate rentals.