General Information » Economy » United Arab Emirates Overview

The UAE is considered the second richest Arab country, after Qatar, on a per capita basis. According to World Bank figures for 2004, the UAE’s Gross National Income (GNI) per capita was $21,000. The country has just under 10% of the world’s proven oil reserves (most of it within Abu Dhabi emirate) and the fourth largest natural gas reserves. Recent record fuel prices have helped the UAE’s GDP grow at around 10% a year. GDP was estimated at Dhs.378 billion for 2004; 29.2% of this was from Dubai.

The UAE’s wealth is not solely reliant on oil revenue though, and in 2004 oil accounted for just 32% of overall GDP. Trade, manufacturing, tourism and construction are playing an increasingly important part in the national economy.

The country’s main export partners are Saudi Arabia, Iran, Japan, India, Singapore, South Korea, and Oman. The main import partners are Japan, USA, UK, Italy, Germany and South Korea.