United Arab Emirates - Economy
How is the economy of United Arab Emirates? Based on the information we have, United Arab Emirates has a historically oil-driven Middle Eastern economy; diversifying into a trade-oriented logistics and supply chain leader; strong foreign direct investment orientation; building trade and investment ties through partnership agreements; growing banking sector; recent economic linkages with Israel slowing due to Gaza conflict. Key agricultural products in this country include: dates, cucumbers/gherkins, camel milk, goat milk, tomatoes, eggs, goat meat, milk, chicken, camel meat (2022).
More about the economy of United Arab Emirates
| Labor force | 6.589 million (2022 est.) |
|---|---|
| Industrial production growth rate | 8.49% (2022 est.) |
| Industries | petroleum and petrochemicals; fishing, aluminum, cement, fertilizer, commercial ship repair, construction materials, handicrafts, textiles |
| Population below poverty line | 19.5% (2003 est.) |
| Taxes and other revenues | 0.54% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Emirati dirhams (AED) per US dollar - |
| Exchange rates 2022 | 3.673 (2022 est.) |
| Exchange rates 2021 | 3.673 (2021 est.) |
| Exchange rates 2020 | 3.673 (2020 est.) |
| Exchange rates 2019 | 3.673 (2019 est.) |
| Exchange rates 2018 | 3.673 (2018 est.) |
| Debt - external | |
| Debt - external 31 December 2017 | $237.6 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $218.7 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $138.433 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $131.117 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $106.702 billion (2020 est.) |
| Current account balance | |
| Current account balance 2017 | $26.47 billion (2017 est.) |
| Current account balance 2016 | $13.23 billion (2016 est.) |
| Public debt | |
| Public debt 2017 | 19.7% of GDP (2017 est.) |
| Public debt 2016 | 20.2% of GDP (2016 est.) |
| Public debt 2013 | 1.85% of GDP (2013 est.) |
| Budget | |
| Revenues | $129.741 billion (2019 est.) |
| Expenditures | $127.262 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | -0.2% (of GDP) (2017 est.) |
| Household income | |
| Lowest 10% | 4% |
| Highest 10% | 20% (2018 est.) |
| Average household expenditures | |
| On food | 13.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 0.4% of household expenditures (2021 est.) |
| Imports | |
| Imports 2020 | $246.886 billion (2020 est.) |
| Imports 2019 | $295.6 billion (2019 est.) |
| Imports 2018 | $281.536 billion (2018 est.) |
| Imports (partners) | China 18%, India 10%, US 6%, UK 4%, Saudi Arabia 3% (2022) |
| Comodities Imports force | gold, broadcasting equipment, refined petroleum, diamonds, cars (2022) |
| Exports | |
| Imports 2020 | $246.886 billion (2020 est.) |
| Imports 2019 | $295.6 billion (2019 est.) |
| Imports 2018 | $281.536 billion (2018 est.) |
| Exports (partners) | India 13%, Japan 10%, China 8%, Saudi Arabia 7%, Iraq 5% (2022) |
| Comodities Exports force | crude petroleum, refined petroleum, gold, broadcasting equipment, natural gas (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $707.307 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $655.823 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $628.455 billion (2020 est.) |
| GDP (official exchange rate) | $507.064 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $74,900 (2022 est.) |
| Real GDP per capita 2021 | $70,000 (2021 est.) |
| Real GDP per capita 2020 | $67,700 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.9% (2017 est.) |
| Industry | 49.8% (2017 est.) |
| Services | 49.2% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 34.9% (2017 est.) |
| Government consumption | 12.3% (2017 est.) |
| Investment in fixed capital | 23% (2017 est.) |
| Investment in inventories | 1.8% (2017 est.) |
| Exports of goods and services | 100.4% (2017 est.) |
| Imports of goods and services | -72.4% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 2.97% (2022 est.) |
| Unemployment rate 2021 | 3.11% (2021 est.) |
| Unemployment rate 2020 | 4.29% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 10.7% (2021 est.) |
| Male | 7.9% |
| Female | 19.9% |
All Important Facts about United Arab Emirates
Want to know more about United Arab Emirates? Check all different factbooks for United Arab Emirates below.
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United Arab Emirates Factbook
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The Economy of United Arab Emirates
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Learn about the Government of United Arab Emirates
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Communication in United Arab Emirates
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Popular Universities in United Arab Emirates
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Enerny in United Arab Emirates
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Transport in United Arab Emirates
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The Geography and society of United Arab Emirates
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The Environment of United Arab Emirates
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Military and security in United Arab Emirates