UAE Economy at a Glance
UAE Economy at a Glance
The UAE has a vibrant free economy with a significant annual trade surplus. Successful efforts have been made to diversify the economy away from dependence on oil and gas exports and a solid industrial base has been created together with a very strong services sector.
Fiscal year: 1 January to 31 December
GDP (2005, current prices): Dh485.5 billion
Real GDP growth (2005): 8.2%
Non-oil sector contribution to nominal GDP (2005): 64%
Foreign direct investment (2005): US$10 billion
Amount raised from IPOs (2005): US1.9 billion
Industries: oil & gas, aluminum, cement, fertilisers, commercial ship repair, petrochemicals,
construction materials, pharmaceuticals, tourism
Oil production: 2.8 million barrels per day
Oil proven reserves : 98.1 billion barrels
Natural gas production: 65 billion cubic metres
Natural gas proven reserves : 6 trillion cubic metres
Oil & gas revenues (2005): Dh111.4 billion
Exports (2005): Dh424 billion
Free-zone exports (2005): Dh63.9 billion
Re-exports (2005): Dh139.5 billion
Imports (2005): Dh261.2 billion
Directions of trade – exports (2005):
Japan 23.6%, South Korea 9.8%, Arab countries 7%;Thailand 6.7% India 5.4%
Directions of trade – imports (2005): China 9.8%, India 9.6%, US 9.3%; UK 8.4%; Japan 5.7%, Germany 5.8%, France 4.2%, Arab countries 4.7%
Amount raised by UAE firms from IPOs (2005): US$1.9 billion
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