The local private sector has pumped cash flows worth AED44.77bn in external markets, recording an AED14bn increase or 46% growth compared to 2012, according to the Central Bank of the UAE (CBUAE). Moreover, despite the high growth rate in cash flows from the private sector to external markets, local market attractiveness for direct investment by the private sector recorded a 9.2% YoY increase in 2013. Direct foreign investments in the local market private sector rose to AED38.5bn in 2013 compared to AED35.26bn in 2012. Meanwhile, private sector direct investment in external markets increased by 22% to AED12.8bn in 2013, compared to AED10.5bn in 2012, according to Mubasher.