About Dubai - UAE
The United Arab Emirates is a federation situated in the southeast of the Arabian Peninsula in Southwest Asia on the Persian Gulf, bordering Oman and Saudi Arabia and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar and Iran. The UAE consists of seven states, termed emirates, which are Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Quwain, Ras al-Khaimah and Fujairah. The capital and second largest city of the United Arab Emirates is Abu Dhabi. It is also the country's center of political, industrial, and cultural activities.
Before 1971, the UAE was known as the Trucial States or Trucial Oman, in reference to a 19th-century truce between the United Kingdom and several Arab Sheikhs. The name Pirate Coast was also used in reference to the area's emirates from the 18th to the early 20th century.
The political system of the United Arab Emirates, based on the 1971 Constitution, is composed of several intricately connected governing bodies. Islam is the official religion, and Arabic is the official language.
The United Arab Emirates has the world's seventh largest oil reserves and possesses one of the most developed economies in West Asia. It is currently the twenty-second largest economy at market exchange rates, and has a high per capita gross domestic product, with a nominal per capita GDP of US$49,995 as per the IMF. The country is fourteenth largest in purchasing power per capita and has a relatively high Human Development Index for the Asian continent, ranking 32nd globally. The United Arab Emirates is classified as a high-income developing economy by the IMF.
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. In 2009, its GDP, as measured by purchasing power parity, stood at US$200.4 billion. The GDP per capita is currently the 14th in the world and 3rd in the Middle East, after Qatar and Kuwait as measured by the CIA World Factbook, or the 17th in the world as measured by the International Monetary Fund.
Petroleum and natural gas exports play an important role in the economy, especially in Abu Dhabi. More than 85% of the UAE's economy was based on the exports of natural resources in 2009. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy. Nationwide, there is currently $350 billion worth of active construction projects. Aluminum, steel, iron and other forms of metal exports along with textile produce much a significant amount of income and are expected to surpass the income brought in by petroleum and natural gas exports within the next 40 to 60 years.
Major increases in imports occurred in manufactured goods, machinery, and transportation equipment, which together accounted for 80% of total imports. Another important foreign exchange earner, the Abu Dhabi Investment Authority - which controls the investments of Abu Dhabi, the wealthiest emirate - manages an estimated $360 billion in overseas investments & an estimated $900 billion in assets.
| UAE in numbers | |||||
| GDP per capita | $ 41.000 | ||||
| GDP composition per sector | |||||
| agriculture | 1% | ||||
| industry | 52% | ||||
| services | 47% | ||||
| Labor force | 3,518 million | ||||
| note: expatriates account for about 85 % of the workforce | |||||
| Unemployement rate | |||||
| 4,20% | |||||
| Budget | |||||
| revenues: | $ 61,16 billion | ||||
| expenditures: | $ 54,68 billion | ||||
| Inflation rate | 1,60% | ||||
| Oil production | 2798 million barrel per day | ||||
| note: 8th in the world | |||||
| Imports | |||||
| $ 150 billion | |||||
| Exports | |||||
| $ 192,2 billion | |||||