United Arab Emirates (The UAE) Economic Statistics and Indicators
27, Mar 2017, EDT. Welcome to the United Arab Emirates economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: United Arab Emirates (The UAE) › Change country
National or Regional Currency: UAE Dirham, AED
Year of data: 2015 › Change year
Number of Indicators Listed: 37
Full Dataset: From Year 1980 to 2021
Date of Last Update: 30th June 2016
Population: 5,628,805 ; note: estimate is based on the results of the 2005 census that included a significantly higher estimate of net immigration of non-citizens than previous estimates; the United Arab Emirates' National Bureau of Statistics estimated the country's total population to have been 8,264,070 in 2010, based on census data; immigrants make up more than 80% of the total population, according to UN data (2013) (July 2014 est.)
Area: total: 83,600 sq km ; land: 83,600 sq km ; water: 0 sq km
Natural Resources: petroleum, natural gas
Capital: name: Abu Dhabi ; geographic coordinates: 24 28 N, 54 22 E ; time difference: UTC+4 (9 hours ahead of Washington, DC, during Standard Time)
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 $10 billion loan from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
More on the United Arab Emirates Economy
More on the United Arab Emirates Export, Import and Trade
GDP (Constant Prices, National Currency) for United Arab Emirates in year 2015 is AED 1,200.24 Billion.
GDP (Current Prices, National Currency) for United Arab Emirates in year 2015 is AED 1,268.79 Billion.
GDP (Current Prices, US Dollars) for United Arab Emirates in year 2015 is US$ 345.483 Billion.
GDP Deflator for United Arab Emirates in year 2015 is 105.711 (Index, Base Year as per country's accounts = 100).
GDP (PPP), US Dollars for United Arab Emirates in year 2015 is US$ 647.823 Billion.
GDP Per Capita (PPP), US Dollars for United Arab Emirates in year 2015 is US$ 67,616.88 .
Inflation, Average Consumer Prices (Indexed to Year 2000) for United Arab Emirates in year 2015 is 265.595 (Index, Base Year 2000 = 100).
Inflation, End of Year (Indexed to Year 2000) for United Arab Emirates in year 2015 is 269.847 (Index, Base Year 2000 = 100).
Population for United Arab Emirates in year 2015 is 9.581 Million .
General government revenue (National Currency) for United Arab Emirates in year 2015 is AED 393.149 Billions.
General government total expenditure (National Currency) for United Arab Emirates in year 2015 is AED 455.048 Billions.
Total Government Net Lending/ Borrowing (National Currency) for United Arab Emirates in year 2015 is AED -61.899 Billions.
Fiscal Year Gross Domestic Product, Current Prices for United Arab Emirates in year 2015 is AED 1,268.79 Billions.
Current Account Balance (US Dollars) for United Arab Emirates in year 2015 is US$ 13.545 Billion.
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Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International