Key Economic Indicators of UAE
| Country Name | United Arab Emirates (UAE) |
|---|---|
| Location | Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia |
| Population | 5,628,805 (July 2014 est.) |
| Ethnic Groups | Emirati 19%, other Arab and Iranian 23%, South Asian 50%, other expatriates (includes Westerners and East Asians) 8% |
| Capital | Abu Dhabi |
| GDP | $399.4 billion (2014 est.) |
| GDP Growth | 4.6 % (2014 est.) |
| GDP Per Capita (PPP) | $66,300 (2014 est.) |
| GDP – Sectorial Composition | Agriculture: 0.7% Industry: 55.1% Services: 44.3% (2014 est.) |
| Main Agriculture | Dates, Vegetables, Watermelons; Poultry, Eggs, Dairy Products, Fish |
| Main Industries | Petroleum and petrochemicals, Fishing, Aluminum, Cement, Fertilizers, Commercial ship repair, Construction materials, Some boat building, Handicrafts, Textiles |
Economic Overview
- The UAE has an open economy with a high per capita income and a sizable annual trade surplus.
- Since the discovery of oil in the UAE more than 30 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living.
- The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement.
- In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US; however, those talks have not moved forward.
- The country’s Free Trade Zones – offering 100% foreign ownership and zero taxes – are helping to attract foreign investors.
External Sector
| Exports | $370.6 billion (2014 est.) | Imports | $239.8 billion (2014 est.) |
| Export goods | Crude Oil 45%, Natural Gas, Re Exports, Dried Fish, Dates | Import goods | Machinery and Transport Equipment, Chemicals, Food |
| Main export partners | Japan 14.8%, Iran 11.4%, India 9.6%, South Korea 5.7%, China 5.5%, Singapore 5.4%, Thailand 4.5% (2014) | Main import partners | China 15.7%, India 13.4%, US 8.9%, Germany 5.3% (2014) |
Source: CIA World factbook