| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

United Arab Emirates Economy 2013

SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES











United Arab Emirates Economy 2013
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 5, 2013

Economy - overview:
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. 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. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.

GDP (purchasing power parity):
$271.2 billion (2012 est.)
country comparison to the world: 50

$260.7 billion (2011 est.)
$247.8 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$361.9 billion (2012 est.)

GDP - real growth rate:
4% (2012 est.)
country comparison to the world: 82

5.2% (2011 est.)
1.3% (2010 est.)

GDP - per capita (PPP):
$49,000 (2012 est.)
country comparison to the world: 13

$48,500 (2011 est.)
$47,500 (2010 est.)
note: data are in 2012 US dollars

GDP - composition by sector:
agriculture: 0.8%
industry: 56.1%
services: 43.1% (2012 est.)

Labor force:
4.337 million
country comparison to the world: 86
note: expatriates account for about 85% of the work force (2012 est.)

Labor force - by occupation:
agriculture: 7%
industry: 15%
services: 78% (2000 est.)

Unemployment rate:
2.4% (2001)
country comparison to the world: 20

Population below poverty line:
19.5% (2003)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Investment (gross fixed):
28.5% of GDP (2012 est.)
country comparison to the world: 25

Budget:
revenues: $130.3 billion
expenditures: $113.8 billion (2012 est.)

Taxes and other revenues:
36% of GDP (2012 est.)
country comparison to the world: 66

Budget surplus (+) or deficit (-):
4.5% of GDP (2012 est.)
country comparison to the world: 15

Public debt:
40.4% of GDP (2012 est.)
country comparison to the world: 86

45.9% of GDP (2011 est.)

Inflation rate (consumer prices):
1.1% (2012 est.)
country comparison to the world: 9

0.9% (2011 est.)

Central bank discount rate:
NA%

Stock of narrow money:
$80.53 billion (31 December 2012 est.)
country comparison to the world: 41

$71.9 billion (31 December 2011 est.)

Stock of broad money:
$234.7 billion (31 December 2012 est.)
country comparison to the world: 37

$224.8 billion (31 December 2011 est.)

Stock of domestic credit:
$313.7 billion (31 December 2012 est.)
country comparison to the world: 35

$293.2 billion (31 December 2011 est.)

Market value of publicly traded shares:
$93.77 billion (31 December 2011)
country comparison to the world: 42

$104.7 billion (31 December 2010)
$109.6 billion (31 December 2009)

Agriculture - products:
dates, vegetables, watermelons; poultry, eggs, dairy products; fish

Industries:
petroleum and petrochemicals; fishing, aluminum, cement, fertilizers, commercial ship repair, construction materials, some boat building, handicrafts, textiles

Industrial production growth rate:
3.2% (2010 est.)
country comparison to the world: 95

Current account balance:
$26.76 billion (2012 est.)
country comparison to the world: 15

$30.65 billion (2011 est.)

Exports:
$300.6 billion (2012 est.)
country comparison to the world: 20

$281.6 billion (2011 est.)

Exports - commodities:
crude oil 45%, natural gas, reexports, dried fish, dates

Exports - partners:
Japan 16.2%, India 13.5%, Iran 10.9%, South Korea 5.6%, Thailand 5.5%, Singapore 4.4% (2011)

Imports:
$220.3 billion (2012 est.)
country comparison to the world: 24

$202.1 billion (2011 est.)

Imports - commodities:
machinery and transport equipment, chemicals, food

Imports - partners:
India 19.8%, China 13.7%, US 8.1%, Germany 4.6% (2011)

Reserves of foreign exchange and gold:
$43.77 billion (31 December 2012 est.)
country comparison to the world: 41

$37.27 billion (31 December 2011 est.)

Debt - external:
$158.9 billion (31 December 2012 est.)
country comparison to the world: 34

$156.3 billion (31 December 2011 est.)

Stock of direct foreign investment - at home:
$91.56 billion (31 December 2012 est.)
country comparison to the world: 42

$83.36 billion (31 December 2011 est.)

Stock of direct foreign investment - abroad:
$58.1 billion (31 December 2012 est.)
country comparison to the world: 33

$55.6 billion (31 December 2011 est.)

Exchange rates:
Emirati dirhams (AED) per US dollar -

3.673 (2012 est.)
3.673 (2011 est.)
3.6725 (2010 est.)
3.673 (2009)
3.6725 (2008)

Fiscal year:
calendar year


NOTE: 1) The information regarding United Arab Emirates on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of United Arab Emirates Economy 2013 information contained here. All suggestions for corrections of any errors about United Arab Emirates Economy 2013 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 11-Mar-13
Copyright © 1995- , ITA (all rights reserved).

    . Feedback