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UAE is an open economy that provides its nationals and investors with a high standard of living thanks to higher per capita income, sizable annual trade surplus, tax incentives, and economic diversification policies. Apart from being a promising commercial and trading hub, United Arab Emirates is a popular tourist destination that has one of the best and strategically located ports in the world and bountiful UAE free trade zones. Here are a few facts about UAE that you should know:
Key Facts to Know
Country and Population OverviewGlobal Finance Rankings and Awards
- Total Area – 83,600 SQ KM
- Capital – Abu Dhabi
- Official Languages – Arabic (official), Persian, English, Hindi, Urdu
- Currency – Emirati dirhams (AED)
- Total Population –
- 2014* – 9.302 million
- 2019** – 10.749 million
- Largest companies in the United Arab Emirates (top 5) –
- Etisalat
- National Bank of Abu Dhabi
- First Gulf Bank
- Emirates NBD
- Abu Dhabi Commercial Bank
- Owing to its efficient trade policy, UAE hosts up to 50% of Fortune 500 Companies
- UAE symbolizes efficient trade policy and has competitive import duty at 5%
- Ranked as the World’s Best Emerging Markets Banks in the Middle East consecutively for three years in a row, 2011, 2012 and 2013
- Ranked as the World’s Best Islamic Financial Institutions for 6 years in a row; from 2008 to 2013
- UAE has the World’s Safest Banks, World’s Best Internet Banks, World’s Best Sub-custodian banks, World’s Best Investment Banks
- UAE banks are the World’s Best Foreign Exchange Providers
- UAE banks are the World’s Best Treasury & Cash Management Providers
UAE Economy in Numbers – 22 Quick Facts and Figures
1. Gross Domestic Product
GDPUS$ 412 billion (2014 estimate)
2. GDP – real growth rate 2012
4.4%2013 – 4.8%2014* – 4.4% (estimate)
3. GDP (purchasing power parity)
$288 billion US Dollars (2014 estimate)
4. GDP – per capita (PPP)
$30,985 International Dollars (2014 estimate)
5. GDP per capita
Current prices US$ 44,330 (2014 estimate)
6. GDP (PPP)
Total share of world 2000 – 0.2%2010 – 0.32%2014* – 0.32% (estimate)
7. GDP composition by sector
Agriculture: 0.7%
Industry: 61.1%
Services: 38.2% (2013 estimate)
8. Market value of publically traded shares
2012 – US$67.95 billion
9. Inflation 2014
2.2% (estimate)
10. Budget
Revenues: $130.3 billion
Expenditures: $113.8 billion (2012 est.)
11. Industries
Petroleum and Petrochemicals Fishing Aluminum Cement Fertilizers
Commercial Ship Repair
Construction Material
Some Boat Building
Handicrafts
Textiles
12. Industrial production growth rate
3.2% (2010 estimate)
13. Total Exports
US$368.9 billion (2013 estimate)US $300.6 billion (2012 estimate)
US $281.6 billion (2011 estimate)
14. Exports – commodities
Crude oil- 45%
Natural gas
Re-export Dried Fish Dates
15. Exports – partners
Japan 15.4%India 13.5%Iran 10.7%Thailand 5.5%Singapore 5.5%
South Korea 5.3% (2012)
16.Total Imports
US$249.6 billion (2013 estimate)US $220.3 billion (2012 estimate)
US$202.1 billion (2011 estimate)
17. Imports – commodities
Machinery and transport equipmentChemicalsFood
18. Imports – partners
India 17%China 13.7%US 10.4%Germany 5.1%Japan 4.2% (2012)
19. Exchange rates
Emirati dirhams (AED) per US dollar –
3.673 (2012 est.)
3.673 (2011 est.)
3.6725 (2010 est.)
20. Fiscal year
The calendar year
21. FDI Inflows
US$ 10,488 million – 2013
22. FDI Outflows
US$ 2,905 million – 2013
*Note – Facts are taken from IMF World Economic Outlook, April 2014
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