UAE's Macroeconomic Statistics
The United Arab Emirates is a highly developed and diverse economy, when that assessment is based on energy consumption and GDP per capita, as well as various indicators from the Human Development Index. Although the UAE is becoming less reliant on its natural resources as a source of income, natural gas and petroleum exports still play a vital role in the Emirates' economy.
The economy in the Emirates is being fueled by a growing manufacturing base, a flourishing construction market, and a robust services sector. Across the UAE, there are more than $350 billion in construction projects; the country is a member of the WTO or World Trade Organization.
The Emirates are growing their imports sector; manufactured goods, transportation equipment and machinery account for almost seventy percent of the import total. The Abu Dhabi Investment Authority controls that emirate's investments, and it manages over $360 billion in investments and almost $900 billion in assets.
Last year, more than 85% of the UAE's economy was based on exports, and the emirate is also looking for other revenue sources such as international finance and tourism. To further the initiative, the Dubai International Finance Center was announced, with foreign ownership of 55.5%, no tax, freeheld land and a financial system with laws modeled on those of European and Western countries.
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