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Economic Slowdown Dampening Growth Prospects
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Major economies in the Middle East and Africa experienced an economic slowdown with GDP growth rate declining for Saudi Arabia, United Arab Emirates (UAE), Nigeria, Qatar, Israel, and Iran in the second quarter of 2019. The area is affected by volatile oil prices, and in Q2 especially, there was a decline in oil prices and production cuts by OPEC. The global economic slowdown has dampened growth in this region as well. Saudi Arabia, UAE, and Qatar experienced deflation in Q2 2019, and this is expected to persist for the coming quarters as well. Iran’s economic growth was restrained by high inflation, reaching up to 50% in Q2 2019. Comparatively, the exchange rates have remained stable in the countries of this region. Unemployment rates did not see significant improvements in H1 2019. The situation is expected to persist in H2 2019. Country Coverage: Middle East and Africa· Saudi Arabia· United Arab Emirates (UAE)· Egypt· Algeria· Nigeria· Qatar· Israel· Iran· South AfricaSector Coverage: economic indicators, demographics, energy, manufacturing, food and beverages, chemicals, pharmaceuticals, plastics, mining, electricity, construction, agriculture, healthcare, information and communication technologies.Indicator Coverage: Gross Domestic Product (GDP) and its components, GDP growth, export and import, foreign direct investment, inflation, business confidence, population and demographics, index of industrial production (IIP), value-add by industry, trade by industry, IIP by industry, production of important commodities, oil production and consumption, oil export and import, renewable energy, emissions, coal production and consumption, healthcare spending, Internet and mobile subscription, and regional GDP growth calculation.Year, Quarter, and Month Coverage:· Yearly data: 2015–2023· Quarterly data: Q1 2015–Q4 2020 (Select Indicators)· Monthly data: January 2015–June 2019 (Select Indicators)
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