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  • 29-10-14

    UAE's exports to hit USD401.7b in 2014

    (MENAFN) UAE's exports are expected to grow by 6 per cent to reach USD401.7 billion in 2014compared to USD379 billion worth of exports last year, due to strong infrastructure and logistics facilities as well as increasing demand from Asia particularly in India, Singapore, Taiwan and Thailand, Khaleej Times reported.

    The UAE economy, which is the second-largest in the Arab world after Saudi Arabia and the most diversified in the Middle East, is expected to continue growing despite the current fall in oil prices due to new market opportunities, though it is facing some risks as well like the higher risk of bad debt, increased payment arrears, fluctuations in cash flow, limited access to funding (SMEs), fast market expansion and lack of information on financials.

    Financial experts believe that small and medium enterprises are especially at risk because of their limited financial base and liquidity and them having limited access to finance and quite expensive interest rate, as well as the SMEs facing risks in regards to delayed payment, administrative cost of collecting, limitation of in-house risk management experts, and limited access to reliable information.

    Meanwhile, according to the latest report by the IMF, UAE's GDP is expected to grow at 4.2 percent in 2014 and 4.5 per cent in 2015.

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