According to a report released by PPRO, Visa dominated the card scheme landscape in the United Arab Emirates in 2024, capturing the majority market share at ** percent. Mastercard followed closely behind with a ** percent share. E-commerce market in the UAE The United Arab Emirates is considered a powerhouse in the region, with the e-commerce market size forecasted to reach ** billion U.S. dollars by 2025. This growth can be attributed to the country's efforts to diversify its economy and decrease reliance on oil exports. Consumers in the UAE have access to a wide range of online shopping websites, including popular platforms like Amazon and Groupon. As of the third quarter of 2022, approximately **** percent of internet users in the UAE engaged in online purchases, while around ** percent of online consumers did online grocery shopping. Additionally, consumers are increasingly shifting towards everyday e-commerce spending in business, government, and education sectors. Payment preferences among consumers The availability of secure and reliable online payment gateways is crucial to ensure a seamless and trustworthy shopping experience for consumers. The most popular online payment method among consumers in the UAE in 2023 was payment by card, accounting for approximately ** percent of online transactions, with Visa emerging as the prevailing card scheme during that period. This indicates a high level of trust and convenience in using cards for online purchases. In that year, Wallets came second, accounting for ** percent of the total online transactions.

United Arab Emirates AE: Domestic Credit: Provided by Financial Sector: % of GDP data was reported at 100.781 % in 2017. This records a decrease from the previous number of 107.593 % for 2016. United Arab Emirates AE: Domestic Credit: Provided by Financial Sector: % of GDP data is updated yearly, averaging 29.867 % from Dec 1975 (Median) to 2017, with 43 observations. The data reached an all-time high of 107.593 % in 2016 and a record low of -0.716 % in 1975. United Arab Emirates AE: Domestic Credit: Provided by Financial Sector: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Arab Emirates – Table AE.World Bank: Bank Loans. Domestic credit provided by the financial sector includes all credit to various sectors on a gross basis, with the exception of credit to the central government, which is net. The financial sector includes monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.; ; International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.; Weighted average;

Graph and download economic data for Outstanding International Private Debt Securities to GDP for United Arab Emirates (DDDM05AEA156NWDB) from 2007 to 2020 about United Arab Emirates, debt, securities, private, and GDP.

Nearly half of the remittances that left the United Arab Emirates in 2021 went towards India, according to a ranking that maps the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. The UAE stands out in this reporting as it one of the few countries that did not have a registered inflow of remittances. The source does not clarify why this is the case - it does not state whether there is a lack of data on this, or incoming remittances were simply too small. The top five recipient countries for remittances from the UAE in 2021 included India, Egypt, Pakistan, Bangladesh, and the Philippines.

United Arab Emirates AE: Domestic Credit: Net data was reported at 1,415,987.000 AED mn in 2017. This records an increase from the previous number of 1,410,811.000 AED mn for 2016. United Arab Emirates AE: Domestic Credit: Net data is updated yearly, averaging 69,728.352 AED mn from Dec 1973 (Median) to 2017, with 45 observations. The data reached an all-time high of 1,415,987.000 AED mn in 2017 and a record low of -417.617 AED mn in 1975. United Arab Emirates AE: Domestic Credit: Net data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Arab Emirates – Table AE.World Bank: Bank Loans. Net domestic credit is the sum of net claims on the central government and claims on other sectors of the domestic economy (IFS line 32). Data are in current local currency.; ; International Monetary Fund, International Financial Statistics and data files.; ;

Saudi Arabia and the United Arab Emirates accounted for more than six out of 10 remittances sent from the Middle East and Central Asia to other countries in 2021. Remittances from these four countries ranged from 2.4 billion U.S. dollars to 3.6 billion U.S. dollars. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. The outflow from the Middle East especially goes towards South Asia - India and Bangladesh - and Southeast Asia.

Key information about United Arab Emirates Domestic Credit

• United Arab Emirates Domestic Credit reached 440.1 USD bn in Oct 2024, compared with a reported figure of 439.4 USD bn in the previous month
• United Arab Emirates Domestic Credit data is updated monthly
• It is available from Jan 1975 to Oct 2024 and averaged 30.2 USD bn
• The data reached an all-time high of 440.1 USD bn in Oct 2024 and a record low of -361.3 USD mn in Sep 1975

CEIC converts monthly Domestic Credit into USD. The International Monetary Fund provides Domestic Credit in local currency. The International Monetary Fund period end market exchange rate is used for currency conversions. Domestic Credit prior to December 2001 is based on an older methodology.


Further information about United Arab Emirates Domestic Credit

• In the latest reports, United Arab Emirates Domestic Credit represented an increased of 8.3 % YoY in Oct 2024
• Money Supply M2 in United Arab Emirates increased to 618.3 USD bn YoY in Oct 2024
• United Arab Emirates Foreign Exchange Reserves was measured at 215.3 USD bn in Oct 2024
• The Foreign Exchange Reserves equaled 5.7 Months of Import in Sep 2024
• The country's Non Performing Loans Ratio stood at 5.0 % in Mar 2024, compared with the ratio of 5.3 % in the previous quarter
• Household Debt of United Arab Emirates reached 106.2 % in Dec 2021, accounting for 106.2 % of the country's Nominal GDP

Graph and download economic data for Current Account Balance for United Arab Emirates (AREBCAGDPGDPPT) from 2000 to 2025 about United Arab Emirates, current account, BOP, and REO.

Graph and download economic data for Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for United Arab Emirates (AREFCAODCHNUM) from 2009 to 2023 about United Arab Emirates, deposits, financial, households, services, banks, and depository institutions.

The value of remittances to India outweighed the value sent to other countries about ** times in 2021, according to a ranking that maps the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about *** in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For India, the top five recipient countries for remittances in 2021 included Bangladesh, Nepal, China, Sri Lanka, and the United States. India's main sources for remittances were the United Arab Emirates, the United States, Saudi Arabia, Oman, and Kuwait.

As of 2023, the United Arab Emirates led the Middle East region with international tourism receipts worth nearly ** billion U.S. dollars. The entire Middle East region's international tourism receipts were valued at over ***** billion U.S. dollars. UAE tourism   The average daily fee of hotels in the emirate of Dubai in 2020 was *** U.S. dollars, while that in Abu Dhabi was ** U.S. dollars. Dubai is the emirate with the highest number of international visitors in the country. It is well-known for its high-end shopping, vibrant nightlife, and modern architecture. It is home to numerous world-class man-made attractions, including the Burj Khalifa, the Dubai Fountain, Atlantis City, and the Palm resort. The UAE was classified as the most competitive tourist destination in the MENA area in 2018 by the Travel and Tourism Competitiveness Index (TTCI). After adjusting for the COVID-19 pandemic, the tourism sector's gross domestic product share in the UAE was predicted to be about **** percent by 2025 with more than ** million tourists expected to visit the country. UAE economy The UAE's economy saw a severe drop in real GDP growth in 2020 as a result of the COVID-19 outbreak, although it was projected to recover gradually over the next few years. The country has taken a significant hit as a result of the coronavirus pandemic. This is attributable not just to the impact of low oil prices, but also to significant losses in non-oil economic areas such as tourism. The wholesale and retail business will be the greatest contributor to Dubai's GDP in 2021. The central bank predicted that the economy will fully recover in 2022. Greenfield projects accounted for the biggest share of announced foreign direct investment (FDI) projects in the emirate of Dubai in 2020.

United Arab Emirates AE: Claims on Private Sector: Annual Growth as % of Broad Money data was reported at 0.627 % in 2017. This records a decrease from the previous number of 5.056 % for 2016. United Arab Emirates AE: Claims on Private Sector: Annual Growth as % of Broad Money data is updated yearly, averaging 8.563 % from Dec 1974 (Median) to 2017, with 44 observations. The data reached an all-time high of 76.881 % in 1974 and a record low of -0.223 % in 1984. United Arab Emirates AE: Claims on Private Sector: Annual Growth as % of Broad Money data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Arab Emirates – Table AE.World Bank: Bank Loans. Claims on private sector (IFS line 32D..ZK or 32D..ZF) include gross credit from the financial system to individuals, enterprises, nonfinancial public entities not included under net domestic credit, and financial institutions not included elsewhere.; ; International Monetary Fund, International Financial Statistics and data files.; ;

United Arab Emirates AE: Monetary Sector Credit to Private Sector: % of GDP data was reported at 67.157 % in 2023. This records an increase from the previous number of 64.651 % for 2022. United Arab Emirates AE: Monetary Sector Credit to Private Sector: % of GDP data is updated yearly, averaging 31.918 % from Dec 1973 (Median) to 2023, with 51 observations. The data reached an all-time high of 87.922 % in 2020 and a record low of 7.288 % in 1974. United Arab Emirates AE: Monetary Sector Credit to Private Sector: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Arab Emirates – Table AE.World Bank.WDI: Bank Loans. Domestic credit to private sector refers to financial resources provided to the private sector, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises.;International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.;;

Key information about United Arab Emirates Foreign Exchange Reserves: Months of Import

• United Arab Emirates Foreign Exchange Reserves equaled 5.7 Months of Import in Sep 2024, compared with the ratio of 5.8 in the previous month
• United Arab Emirates Foreign Exchange Reserves: Months of Import data is updated monthly, available from Jan 2009 to Sep 2024
• The data reached an all-time high of 7.7 in Apr 2020 and a record low of 2.0 in Mar 2010

CEIC calculates Foreign Exchange Reserves Months of Import from monthly Foreign Exchange Reserves and monthly Imports. The International Monetary Fund provides Foreign Exchange Reserves in USD. Federal Competitiveness and Statistics Centre provides Imports in local currency. The International Monetary Fund average market exchange rate is used for currency conversions. Total Imports include trade from customs warehouses and all type of free zones. Total Imports prior to January 2017 exclude trade from customs warehouse and all type of free zones.


Further information about United Arab Emirates Foreign Exchange Reserves: Months of Import

• In the latest reports, United Arab Emirates Foreign Exchange Reserves was measured at 215.3 USD bn in Oct 2024
• Its Money Supply M2 increased 18.1 % YoY in Oct 2024
• United Arab Emirates Domestic Credit reached 428.1 USD bn in Jul 2024, representing an increased of 7.1 % YoY
• The country's Non Performing Loans Ratio stood at 5.0 % in Mar 2024, compared with the ratio of 5.3 % in the previous quarter
• Household Debt of United Arab Emirates reached 457.5 USD bn in Apr 2023, accounting for 106.2 % of the country's Nominal GDP