Title: Economy of the United Arab Emirates - Wikipedia
Headings: Economy of the United Arab Emirates
Economy of the United Arab Emirates
From Wikipedia, the free encyclopedia
Contents
Historical background
Overview
Data
External trade
Diversification of UAE's economy
Foreign trade
Human Resources and Employment
Investment
Outward investment
Inward investment
Corporate Governance Code
Banking
Real estate
Real-estate projects
Financial centers
See also
References
Notes
External links

Content: Stable
Foreign reserves
$95.37 billion (31 December 2017 est.) Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars. The economy of the United Arab Emirates (or UAE) is the fourth largest in the Middle East (after Turkey, Saudi Arabia and Iran), with a gross domestic product (GDP) of US$421 billion (AED 1.5 trillion) in 2020. The UAE has been successfully diversifying its economy, particularly in Dubai, but still remains heavily reliant on revenues from petroleum and natural gas, which continue to play a central role in its economy, especially in Abu Dhabi. More than 85% of the UAE's economy was based on the oil exports in 2009. While Abu Dhabi and other UAE emirates have remained relatively conservative in their approach to diversification, Dubai, which has far smaller oil reserves, was bolder in its diversification policy. In 2011, oil exports accounted for 77% of the UAE's state budget. Tourism is one of the bigger non-oil sources of revenue in the UAE, with some of the world's most luxurious hotels being based in the UAE. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy.