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A
confederation of 7 emirates, United Arab Emirates came
into existence in 1971. The country achieved miraculous
progress under visionary leadership and in a short span
of three decades has become a trendsetter for all the
oil based economies. The UAE's strategic geographic
location, with the Indian sub continent to the east,
GCC countries, East Mediterranean and North Africa to
the west, Iran and CIS republics to the north and East
/ South Africa to the south make it an ideal distribution
hub for this region.
A
Demographic profile
Dubai - The Commercial capital of
the UAE
UAE-Web
Links
UAE-
A Demographic profile
Introduction
U.A.E. has
a relatively broad economic base, built on Dubai’s entrepot
trade and Abu Dhabi’s oil industry. In 1999, the GDP
of U.A.E. at current prices was USD 51.88 Billion. Out
of the 7 emirates that constitute U.A.E., Abu Dhabi
accounts for 61.1 % of G.D.P. and Dubai for 24 %. Sharjah
is in the third position at 8.4 % and the four northern
emirates (Ajman, Fujairah, Ras Al Khaimah and Umm Al
Quwain) put together account for 6.5 % of the GDP.
Economic Highlights
Population: 2, 938, 000
(1999 Estimate). Growth rate 5.0%
Per capita income: Dhs 64,806 (USD 17,658) (1999)
Gross Domestic Product: Dhs 190.40 Billion (1999). Growth
10%
Contribution by oil sector to GDP : Dhs 48.70 Billion
(25.6 %)
Contribution by non oil sector to GDP: Dhs 141.70 Billion
(74.4%)
Currency & Rate of
Exchange : Dirham (AED)
Pegged to US Dollar @ 1USD = AED 3.67
Balance of Payments Position
in 1999 :
Major Contributors to
GDP from non oil sector (1999) :
-
Manufacturing : Dhs
24.00 Billion
-
Trade & Maintenance
: Dhs 21.69 Billion
-
Real Estate : Dhs
17.43 Billion
-
Construction : Dhs
16.33 Billion
-
Transport, Storage
& Communications : Dhs 13.47 Billion
-
Finance & Insurance
: Dhs 12.18 Billion
-
Agriculture : Dhs
6.53 Billion
-
Tourism : Dhs 3.56
Billion
-
Government Services
& Utilities : Dhs 26.51 Billion.
For details on Socio
Economic trends, information on specific sectors, please
contact us.
A
Demographic profile
Dubai - The Commercial capital of
the UAE
UAE-Web
Links
Historically,
Dubai has always been a major entrepot in the Gulf and
it remains the commercial centre of the UAE.
Since
the beginning of 1970s, Dubai Economy has been moving
systematically towards reducing its dependence on Oil
sector. Now the Non-oil sector contributes 90 % of Dubai’s
GDP due to the initiatives taken by the proactive Dubai
Government to develop the various non-oil segments of
the economy.
Dubai
has strengthened its distinguished strategic location
by pursuing a free and balanced economic policy that
has given it a good reputation in the international
commercial and economic communities, which encourages
national and foreign capital to enter into successful
investment ventures in different commercial, industrial
and service fields.
Government
has successfully encouraged world class enterprises
to invest in the conventional Free Zones ( Jebel Ali
Free Zone & Dubai Airport Free Zone), Tourism projects
and the New Internet Economy initiatives viz. Dubai
Internet City, Dubai Media City (Free Zone) and Dubai
Ideas Oasis (Business incubator).
Future Outlook
The UAE
economy is poised for a 14 % growth for the year 2000
mainly fuelled by the increase in Oil price (Oil sector
is expected to post a 35 % growth in 2000). The growth
forecast for the year 2001 is 2 % for the overall economy
and 5 % for the Non-oil sector.
All the
emirates are vying with each other to attract investments
by trans national corporations. Massive capital investments
in infrastructure ( ports, freezones, roads, tourism
oriented projects, oil refineries and petro chemical
complexes) are being made in all the emirates.
A high
level of political stability, a strong currency, and
progressive policies of the Government assure the UAE
of continued economic progress and growth.
A
Demographic profile
Dubai - The Commercial capital of
the UAE
UAE-Web
Links
UAE
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