The Middle East

The Omani economy saw another good year in 2012, with high levels of growth on the back of increased hydrocarbons production and solid results from the private sector. However, unemployment remains a concern for the authorities.

After watching growth top 8% in 2010 and 2011, Turkey is now seeing its economic expansion ease amid a slowdown in growth both globally and in the eurozone, the impact of civil war in Syria and the doubling of interest rates throughout 2012. Increased focus on domestic demand and exports could see growth rebound in 2013, however.

New developments in the logistics sector, alongside an increase in non-oil trade, are expected to keep Abu Dhabi’s economy on track for moderate expansion in the coming year, with plans for further diversification set to deliver increasingly balanced growth.

While 2012 may have been marked by an ongoing political stalemate and effects from regional and local unrest, Bahrain managed to overcome negative pressures and produce solid growth for 2012.

Domestic and external pressures have made it a challenging year for the Jordanian economy, with most indicators pointing to 2013 being much the same, as the state seeks to curb spending, promote growth and maintain calm.

Officials from Ajman are hoping that investors can be convinced that size does matter when it comes to setting up shop and are taking the message to overseas markets that small and medium-sized enterprises (SMEs) can be a good fit for the Ajman Free Zone (AFZ).