NO. 31


Financial and Banking News

Budgets & Revenues

UAE Shows Big Rise in Oil Revenues

The UAE's oil revenues rose to Dh42.2bn ($11.5mn) in 1989 from Dh33.9bn in1988, a 24% increase, according to a report published by the state-ownedEmirates Industrial Bank. The report says that the UAE's trade surplus for theyear stood at Dh18bn compared to Dh13bn in 1988. The change in the trade balanceis wholly due to improved oil revenues, since non-oil exports fell by 8.2%during the...