Title: Economy of the United Arab Emirates - Wikipedia
Headings: Economy of the United Arab Emirates
Economy of the United Arab Emirates
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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: 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. Nationwide, there is currently $350 billion worth of active construction projects. The UAE is a member of the World Trade Organization and OPEC . The UAE government has long been investing in the economy to diversify and reduce its dependence on oil revenue. Contents
1 Historical background
2 Overview
3 Data
4 External trade
5 Diversification of UAE's economy
6 Foreign trade
7 Human Resources and Employment
8 Investment
8.1 Outward investment
8.2 Inward investment
9 Corporate Governance Code
10 Banking
11 Real estate
11.1 Real-estate projects
12 Financial centers
13 See also
14 References
15 Notes
16 External links
Historical background
Prior to independence from the UK and unification in 1971, each emirate was responsible for its own economy. At the time, pearl diving, seafaring and fishing were together the mainstay of the economy, until the development of Japanese cultured pearls and the discovery of commercial quantities of oil.