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HEALTHY GROWTH FOR UAE IMPORTS.
(From Market - Africa/Mid-East)
In spite of its diminutive size, the UAE has the second largest gross domestic product in the Arab World and average annual economic growth from 2000 through 2004 should be well above the regional average. The benefits of healthy macroeconomic gains are trickling down to the average household and that will contribute to sales growth for imported consumer goods in excess of 5 percent year-on-year through most of 2004
The UAE's consumer base can be divided into two categories: permanent and temporary residents. The permanent residents, most of whom are UAE natives, have contributed to double-digit growth in sales of new residences over the past two years. By opening the door to residence ownership to non-citizens, the UAE should succeed in attracting foreign investors to high-end residential developments. That, in turn, will contribute to double-digit growth in orders for imported high-end household fixtures and furnishings
The ...
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