Gold, food, machinery, transport vehicles and parts, refined petroleum, natural gas, diamonds, jewellery, refined copper (2021)[11]
Main import partners
China 17.3%
European Union 13.0%
Germany 3.1%
Italy 2.3%
France 1.8%
Belgium 1.4%
Netherlands 1.0%
Other EU 3.4%
GCC 9.5%
Saudi Arabia 5.2%
Oman 1.5%
Qatar 1.2%
Bahrain 1.0%
Kuwait 0.6%
India 9.4%
United States 5.5% (2021)[12]
FDI stock
$129.9 billion (2017 est.)[4]
Abroad: $124.4 billion (2017 est.)[4]
Current account
$26.47 billion (2017 est.)[4]
Gross external debt
$237.6 billion (2017 est.)[4]
Public finances
Government debt
38.33% of GDP (2020 est.)[4]
Budget balance
−0.2% (of GDP) (2017 est.)[4]
Revenues
15.79 billion (2021 est.)[4]
Expenses
16.6 billion (2021 est.)[4][note 1]
Credit rating
Standard & Poor's: AA[13] Outlook: Stable Moody's: Aa2 Outlook: Stable Fitch: AA Outlook: Stable
Foreign reserves
$95.37 billion (2017 est.)[4]
Main data source:CIA World Fact Book All values, unless otherwise stated, are in US dollars.
The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 3rd largest in the Middle East (after Turkey and Saudi Arabia), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023.[1]
The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was based on the oil exports.[14][15] In 2011, oil exports accounted for 77% of the UAE's state budget.[16] In recent years, there has been some economic diversification,[17] particularly in Dubai.[clarification needed] Abu Dhabi and other UAE emirates have remained relatively conservative in their approach to diversification. Dubai has far smaller oil reserves than its counterparts.[18]
Tourism is one of the biggest non-oil sources of revenue in the UAE. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the country to diversify its economy. Nationwide, there is currently US$350 billion worth of active construction projects.[19]
The UAE is a member of the World Trade Organization and OPEC.
^ abcdefghij"Report for Selected Countries and Subjects". IMF. Retrieved 14 July 2023.
^"World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.
^"Population, total". data.worldbank.org. World Bank. Archived from the original on 24 August 2019. Retrieved 24 August 2019.
^ abcdefghijklmn"The World Factbook". CIA.gov. Central Intelligence Agency. Archived from the original on 7 January 2022. Retrieved 13 June 2019.
^"GINI index (World Bank estimate) – United Arab Emirates". data.worldbank.org. World Bank. Archived from the original on 30 March 2020. Retrieved 30 March 2020.
^"Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 15 December 2019. Retrieved 4 December 2022.
^"Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 4 December 2022.
^"Labor force, total - United Arab Emirates". data.worldbank.org.
^"Employment to population ratio, 15+, total (%) (national estimate)". data.worldbank.org. World Bank. Archived from the original on 24 August 2019. Retrieved 24 August 2019.
^"Unemployment, total (% of total labor force) (national estimate)". data.worldbank.org. World Bank. Archived from the original on 7 January 2022. Retrieved 24 August 2019.
^ abc"Export Partners of United Arab Emirates". The Observatory of Economic Complexity. Retrieved 7 April 2023.
^"Import Partners of United Arab Emirates". The Observatory of Economic Complexity. Retrieved 7 April 2023.
^"Sovereigns rating list". Standard & Poor's. Archived from the original on 26 June 2015. Retrieved 26 May 2011.
^"The World Factbook". CIA. 12 January 2022. Archived from the original on 7 January 2022. Retrieved 20 February 2023.
^"WTO Trade Statistic 2009". Stat.wto.org. Archived from the original on 4 March 2016. Retrieved 1 December 2014.
^"Economic diversification in the GCC countries" (PDF). January 2013. p. 13. Archived from the original (PDF) on 5 December 2014. Retrieved 1 December 2014.
^Kader, Binsal Abdul (20 April 2011). "Diversification raises non-oil share of UAE's GDP to 71%". Archived from the original on 1 March 2014. Retrieved 20 February 2023.
^"United Arab Emirates profile". BBC News. 14 November 2012. Archived from the original on 27 November 2020. Retrieved 20 February 2023.
^3 Archived 2009-06-04 at the Wayback Machine
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Global Information
9,970,529 (2021)[3]
3.12% (2023 est.)[1]
3.36% (2021)[10]
