Data at glance of United Arab Emirates - average on period

variable 1980-1989 1990-1999 2000-2007 2008-2009 2010-2019 2022 2023 2024 2025 2026
real gdp growth 2.03 5.06 5.41 1.35 2.67 4.3 4.0 5.8 3.1 5.3
CPI % 4.15 3.65 6.59 -1.9 1.18 1.6 1.7 1.3 2.5 2.0
Unemployment rate - - - - - - - - - -
Debt/GDP % - 3.9 5.11 19.7 20.14 31.9 34.9 34.3 31.4 30.1
Current account balance/GDP % 14.16 5.72 8.72 3.55 9.99 14.1 15.4 15.3 11.4 11.4

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

The Trucial States of the Persian Gulf coast granted the UK control of their defense and foreign affairs in 19th-century treaties. In 1971, six of these states -- Abu Dhabi, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn -- merged to form the United Arab Emirates (UAE). Ra's al Khaymah joined in 1972. The UAE's per-capita GDP is on par with those of leading West European nations. For more than three decades, oil and global finance drove the UAE's economy. In 2008-09, the confluence of falling oil prices, collapsing real estate prices, and the international banking crisis hit the UAE especially hard. The UAE did not experience the "Arab Spring" unrest seen elsewhere in the Middle East in 2010-11, partly because of the government's multi-year, $1.6-billion infrastructure investment plan for the poorer northern emirates, and its aggressive pursuit of advocates for political reform. The UAE in recent years has played a growing role in regional affairs. In addition to donating billions of dollars in economic aid to help stabilize Egypt, the UAE was one of the first countries to join the Defeat ISIS coalition, and to participate as a key partner in a Saudi-led military campaign in Yemen. In 2020, the UAE and Bahrain signed a peace agreement (the Abraham Accords) with Israel -- brokered by the US -- in Washington, D.C. The UAE and Bahrain thus became the third and fourth Middle Eastern countries, along with Egypt and Jordan, to recognize Israel.

Environment

Area: 83,600 sq km km2

Climate: desert; cooler in eastern mountains

Natural resources: petroleum, natural gas

Ethnic characteristics

Groups: Emirati 11.6%, South Asian 59.4% (includes Indian 38.2%, Bangladeshi 9.5%, Pakistani 9.4%, other 2.3%), Egyptian 10.2%, Filipino 6.1%, other 12.8% (2015 est.)

Languages: Arabic (official), English, Hindi, Malayalam, Urdu, Pashto, Tagalog, Persian

Religions: Muslim 74.5% (official) (Sunni 63.3%, Shia 6.7%, other 4.4%), Christian 12.9%, Hindu 6.2%, Buddhist 3.2%, agnostic 1.3%, other 1.9% (2020 est.)

Government

Capital: Abu Dhabi

Government type: federation of monarchies

Executive branch

Chief of state: President MUHAMMAD BIN ZAYID Al Nuhayyan (since 14 May 2022)

Head of government: Prime Minister and Co-Vice President MUHAMMAD BIN RASHID Al Maktum (since 5 January 2006)

Legislative branch

Description: Federal National Council (Majlis Watani Itihadi) - unicameral

Economic Overview

high-income, oil-driven Middle Eastern economy; fastest GDP growth of Gulf states; diversification through tourism, construction, and services; strong foreign direct investment orientation; continued government investment and business-friendly reforms

Industries

petroleum and petrochemicals; fishing, aluminum, cement, fertilizer, commercial ship repair, construction materials, handicrafts, textiles

GDP by sector: Agriculture: 0.7% (2023 est.), Industry: 47.7% (2023 est.), Services: 51.6% (2023 est.)

Trade

Export partners: China 11%, India 11%, Japan 10%, Iraq 6%, Thailand 4% (2023)

Export commodities: crude petroleum, refined petroleum, gold, broadcasting equipment, natural gas (2023)

Import partners: China 19%, India 7%, USA 6%, Turkey 4%, Japan 4% (2023)

Import commodities: gold, broadcasting equipment, cars, refined petroleum, diamonds (2023)

Geography

Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia

Defence

Military expenditure: 2024: 4% of GDP (2024 est.)

Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.