Economy Overview: The UAE has an open economy with a high per capita income and a large foreign trade surplus. Prosperity is based on oil and gas production (approximately 33% of GDP), and therefore the prices of these goods strongly influence the state of the economy. Since 1973, the UAE has evolved from an impoverished region of small desert principalities into a modern country with a high standard of living. At the current level of production, oil and gas reserves should be enough for more than 100 years. Despite the increased in 1999-2000. oil revenues, the government has not reversed the economic reforms undertaken after the oil price collapse in 1998. The government has increased spending on job creation and infrastructure expansion, and is opening up more and more opportunities for private sector development. See topb2bwebsites.com to know more about United Arab Emirates in 2004.
GDP: at purchasing power parity – US$54 billion (2000 est.).
Real GDP growth rate: 4% (2000 est.).
GDP per capita: Purchasing power parity – US$22,800 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 3%; industry: 52%; services: 45% (1996 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: per 10% of the poorest families: no data. by top 10% of households: no data.
Inflation rate at consumer prices: 4.5% (2000 est.).
Work force: 1.4 million people (1998 est.); note: 75% of the population aged 15 to 64 are foreign nationals (July 1998 est.).
Employment structure: service sector 60%, industry 32%, agriculture 8% (1996 est.).
Unemployment rate: no data.
Budget: revenues: $6.5 billion; expenditures: $7.3 billion, including capital expenditures – NA (2000 est.).
Spheres of economy: oil production, fishing, petrochemical industry, production of building materials, shipbuilding, handicraft production, pearl mining.
Growth in industrial production: 4% (2000).
Electricity generation: 36.7 megawatt-hours (1999).
Sources of electricity generation: fossil fuel: 100%; hydropower: 0%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 34.131 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: dates, vegetables, watermelons, poultry, eggs, dairy products; fish.
Exports: $46 billion (free on board, 2000 est.)
Export items: crude oil 45%, natural gas, re-export, dried fish, dates.
Export partners: Japan 30%, India 7%, Singapore 6%, South Korea 4%, Oman, Iran (1999).
Imports: $34 billion (free on board, 2000 est.)
Import articles: production and transport equipment, chemicals, food.
Import partners: Japan 9%, USA 8%, UK 8%, Italy 6%, Germany South Korea (1999).
External debt: $12.6 billion (2000 est.) Recipient of economic assistance: no data.
Economic aid donor:
Currency: Emirati dirham. tsch
Currency code: AED.
Exchange rate: AED/USD (average exchange rate of the central bank) – 3.6725 (since 1998); 3.6711 (1997), 3.6710 (1995-96). -:d
Fiscal year: calendar year. SCH
Telecommunications Telephone lines: 915 223 (1998).
Mobile cell phones: 1 million (1999).
Telephone system: modern system consisting of microwave radio relay and coaxial cable; key hubs are Abu Dhabi and Dubai; internal: microwave radio relay and coaxial cable; international: satellite ground stations – 3 Intelsat (1 Atlantic Ocean and 2 Indian Ocean) and 1 Arabsat; submarine cables to Qatar, Bahrain, India and Pakistan; with Bahrain also communication using tropospheric scatter; microwave radio relay to Saudi Arabia.
Broadcast stations: AM – 13, FM-7, shortwave – 2 (1998).
Radio receivers: 820,000 (1997).
Television broadcast stations: 15(1997]
Televisions: 310,000 (1997)
Internet country code: ae
Internet service providers: 1 (2000)
Number of users: 400,000 (2000)
Transport Railways: 0 km.
Roads: total length: 4,835 km; coated: 4,835 km; unpaved: 0 km (1998 est.).
Pipelines: for crude oil – 830 km; for natural gas, including liquefied gas – 870 km.
Ports and harbors: Ajman, Das Island, Mina Jabal Ali, Mina Zayid, Mina Rashid, Mina Saqr, Mina Khalid, Umm al Qaiwain, Khawr Fakkan, El Fujairah.
Merchant navy: total strength: 70 vessels (displacement 1,000 tons or more) with a total displacement of 1,094,256 gross register tons / 1,421,333 long tons of gross tonnage; various types of ships: cargo ships – 16, chemical tankers – 3, container ships – 17, liquefied gas tankers – 1, livestock ships – 1, passenger ships – 1, oil tankers – 24, ferries for the transport of loaded vehicles – 6, specialized tankers – 1 (est. 2000).
Airports: 40 (2000 est.).
Airports with paved runways: total: 22; over 3,047 m: 8; from 2438 to 3047 m: 3; from 1524 to 2437 m:4; from 914 to 1523 m: 3; less than 914 m: 4 (2000 est.).
Airports with unpaved runways: total: 18; over 3,047 m: 1; from 2438 to 3047 m: 1; from 1,524 to 2,437 m: 4; from 914 to 1523 m: 9; less than 914 m: 3 (2000 est.). Helipads: 2 (2000 est.).
Branches of the armed forces: army, navy, air force, air defense, paramilitary units (including federal police forces).
Enlistment age: 18 years old.
Total military manpower: men aged 15 to 49: 778,842; note: including foreign nationals (2001 est.).
Eligible for military service: males aged 15 to 49: 420,484 (2001 est.).
Number of persons reaching military age each year: male: 25,482 (2001 est.).
Military spending in dollar terms: $1.6 billion (FY00)
Military spending as part of GDP: 3.1% (FY00)
International issues International disputes: the border with Saudi Arabia has not been finalized, de facto the border corresponds to the 1974 agreement; the border with Oman is not defined; in the northern part of the Musandam Peninsula there is an administrative border; The UAE claims two islands in the Persian Gulf occupied by Iran: Lesser Tunb (called Tunb al-Sughra in Arabic in the UAE and Tombe Kuchek in Farsi in the UAE) and Greater Tunb (called Tunb al-Kubra in Arabic and Iran Tombe-Bozorg in Farsi); The UAE also lays claim to an island in the Persian Gulf jointly owned with Iran (called Abu Musa in Arabic in the UAE and Jazeera Abu Musa in Farsi in Iran), over which Iran has been taking steps to establish sole control since 1992 such as restricting access to the island and building military installations there;
Illicit drugs: Due to the UAE’s proximity to Southwest Asian producing countries and the existence of a free trade zone in Dubai, the country’s importance for heroin transit and money laundering is growing.