UAE traders more optimistic in Q3 - HSBC

The UAE is one of the top three most confident countries in the world on trade activity and growth, according to a new survey.

The UAE scored 118 points in the HSBC Trade Confidence Index for the third quarter, up 3 percent from the previous quarter.

The number of UAE traders who expect trade business to increase over the next three months rose to 46 percent from 34 percent, and another 40 percent expect it to remain at current levels.

Sentiment rose by around 10 percent in Hong Kong and Singapore, the other two key global re-export centres covered in the survey,

The report surveyed 3,500 trade-oriented small and middle sized corporates in 12 markets, including key economies in the Asia-Pacific region, the UAE, Brazil, the UK and the US.

Traders were asked about their three-month outlook on trade volume; buyer and supplier risks; the need for trade finance; access to trade finance and the impact of foreign exchange on their businesses.

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