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United Arab Emirates - Consumer Goods and Retail Report – July 2013
Dated: 30 July 2013 Retail sales, international comparison (US$ bn)
2008a United Arab Emirates US Japan China Germany
a
2009a 44.2 2,954 1,414 1,413 551
2010a 45.1 3,095 1,545 1,646 536
2011a 47.5 3,328 1,690 2,011 577
2012a 49.5 3,450 1,716 2,308 541
2013b 52.6 3,560 1,416 2,589 557
2014b 56.5 3,706 1,388 2,998 559
2015b 60.8 3,850 1,417 3,458 561
2016b 65.8 4,011 1,460 3,979 570
2017b 71.5 4,193 1,505 4,548 587
45.5 3,159 1,309 1,210 599
Actual. b Economist Intelligence Unit forecasts. Sources: Planet Retail; Economist Intelligence Unit.
Consumer goods and retail report: Overview The UAE has one of the most advanced retail landscapes in the Gulf Co-operation Council (GCC). The Economist Intelligence Unit estimates that retail consumption grew robustly in 2011-12 as high oil prices and increased government spending boosted private consumption. Growth in retail sales is forecast to accelerate in 2013 as consumer confidence increases, tourism remains buoyant, and strong government finances support the economy, including the development of the retail sector. The UAE also continues to benefit from its safe-haven status against a backdrop of ongoing regional unrest. Growth in retail spending is likely to remain strong during the forecast period. Risks to this outlook include lower than forecast oil prices, owing, for example, to a downturn in the global economy.
Income and demographics
2008a Nominal GDP (US$ bn) Population (m) 315.5 6.8
c
2009a 254.8 6.5
c
2010a 287.4 6.7
c
2011a 348.6 7.1
c
2012a 2013b 2014b 2015b 2016b 2017b 383.8c 7.5 406.9 7.9 433.5 8.4 470.1 8.9 520.9 9.5 588.0 10.1
1
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