Today, dubai ranks among the most visited cities of the world, ranking 6th with 16 million visitors in 2017, as per. United arab emirates and global competitiveness 2017 62 2. The rate of participation in the female labour force was about 41. For more than three decades, oil and global finance drove the uae s economy. Swiss franc and the japanese yen in 2015, the dollar. Jan 16, 2017 the travel and tourism industry has been earmarked as a key growth sector for the uae as part of its ambitious economic diversification policy. The travel and tourism industry has been earmarked as a key growth sector for the uae as part of its ambitious economic diversification policy. The government reduced fuel subsidies in august 2015, and introduced excise taxes 50% on sweetened carbonated beverages and 100% on energy drinks and tobacco in october 2017.
The united arab emirates economic freedom score is 76. Uae economic outlook 2015 towards a knowledge based economy date. United arab emirates gdp growth dips in 2016 as fiscal austerity bites. Mar 22, 2020 statistics according to the annual economic report 2018 pdf, 540 kb, the total labour force in the uae in 2017 was 6447.
At the same time, births and deaths data are two of the main three essential factors, besides immigration, that directly affect population growth rate and demographic changes in the society. The uae economy has proven its resilience and ability to sustain growth despite. This 6 per cent growth of india will be at par with chinas growth for 2020 predicted by the imf. In 2015, the sectors total contribution to the countrys gdp was aed3. The uae s per capita gdp is on par with those of leading west european nations. Before oil was discovered in the 1950s the uaes economy was dependent on fishing and a declining pearl industry. Middle east united arab emirates the world factbook. Numbers of working women in uae surge, report reveals. In 1971, six of these states abu dhabi, ajman, al fujayrah, ash shariqah, dubayy, and umm al qaywayn merged to form the united arab emirates uae.
In 2017, the united arab emirates gdp growth rate amounted to approximately 0. Country report 2017 includes the united arab emirates real gross domestic product growth rate, with latest forecasts and historical data, gdp per capita, gdp composition and breakdown by sector. In 2019, the unemployment rate in the united arab emirates was at 2. Gdp annual growth rate in the united arab emirates averaged 3. United arab emirates gdp annual growth rate 20002019 data.
Residential markets in dubai and the uae are heading down, with a huge supply glut and negative investor sentiment. The federation formed in 1971 after british forces withdrew from the persian gulf. The opec agreement in november 2016 set a production target for. United arab emirates economy, politics and gdp growth summary. The economy of the united arab emirates or uae is the second largest in the middle east after saudi arabia, with a gross domestic product gdp of usd 414 billion aed 1. The uae has the most diversified economy in the gcc with just under a third of real gdp coming from the hydrocarbons sector. Unemployment rates among emirati citizens had risen to more than per cent in 20 about 41,000 people from about 1,900 people, or 4 per cent, in 1975.
The country has experienced significant economic growth. The uae continues to be a strategic hub, with businessfriendly free zones and a quickly growing economy. Numbers of working women in uae surge, report reveals the. Sami al qamzi, director general, dubai department of economic development. Dubai exports, the export promotion agency of the department of economic development in dubai, was created to ensure the success of the exports sector in dubai and the uae, providing constant guidance, advice and practical support to both. A census is rarely held last one in 2005, next one planned for 2020, and, even when there is a census, the data could be suspect, for example inhabitants of. The united arab emirates gdp forecast 2017, economic data. Uaes cabinet formed the national committee on sdgs in january 2017 which is led by fcsa and includes federal government entities. Also considering the fact that exports have become the main driver of the uaes economic growth the contribution of international trade to gdp grew from 31% in 2017 to 33. The following table shows the main economic indicators in 1980 2017. This tradition of welcoming business and trade goes back to early gulf history, when ships sailed to india and along the coast of east africa as far south as mozambique.
Statistics according to the annual economic report 2018 pdf, 540 kb, the total labour force in the uae in 2017 was 6447. Business conditions deteriorate at record pace in march. The gross domestic product gdp in the united arab emirates expanded 2 percent in 2019 from the previous year. Recently, the uae government has also been promoting a tourism and knowledgebased economy to spur the economic momentum. The uae has been successfully diversifying its economy, particularly in dubai, but still remains heavily reliant on revenues from petroleum and. Demographics of the united arab emirates wikipedia. Jihad azour, director of the middle east and central asia at the imf, projected a 1. The ministry of economy is pleased to launch its comprehensive annual economic report 2016, which contains the latest regional and global economic figures and statistics. Over the past years, the uae has witnessed sustained economic growth and made great.
Browse additional economic indicators and data sets, selected by global finance editors, to learn more. The unemployment rate depicts the share of a countrys labor force without jobs but. The uaes per capita gdp is on par with those of leading west european nations. A statement by the executive director for the united arab emirates. The statistics centre abu dhabi scad is pleased to present the abu dhabi. Electricity demand is growing in the uae and the country relies entirely on electricity to provide its potable water, by desalination.
A possible transfer of power in abu dhabi from the current ruler, who is in poor health, to the crown prince will go smoothly. Armani hotel, dubai agenda day one tuesday, december 16th 09. Consumer price inflation in the uae will edge up slightly from 2. Science, technology and innovation higher policy pdf 2mbmocaf. United arab emirates unemployment rate 2019 statista. Average gdp growth over 2000 to 2006 in the uae was about 8. In 200809, the confluence of falling oil prices, collapsing real estate prices, and the international banking crisis hit the uae especially hard. The united arab emirates uae was founded in 1971, comprising seven states including abu dhabi and.
United arab emirates and the 2030 agenda for sustainable. United arab emirates global economic prospects examines trends for the world economy and how they affect developing countries. Tourisms contribution to dubais economy revealed the. This page has economic forecasts for the united arab emirates including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the the united arab emirates economy. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. The ministry of economy is pleased to present public and private stakeholders the annual economic report for 2017, which draws up a clear map backed by reliable figures and statistics on major regional and global economic developments. United arab emirates economic forecasts 20202022 outlook.
United arab emirates gross domestic product growth 2024 statista. Population data for the uae can be somewhat unreliable. Feb 12, 2020 in 2019, the unemployment rate in the united arab emirates was at 2. Industrial development in the united arab emirates 64. Expo 2020, touted as a showcase for all that the emirate has achieved in recent decades, is now only two years away. The fiscal deficit of 2015 is the first since the financial crisis of 2009 when the real estate bubble in dubai burst. United arab emirates economy 2020, cia world factbook. Real gdp growth will pickup in 2020 with the hosting of expo 2020, and higher oil prices.
The economy of the united arab emirates or uae is the second largest in the middle east. When adjusted for inflation, dubai house prices fell by 8%. Based on information available at the time of these discussions, the staff report was completed on july 5, 2016. This article contains demographic features of the united arab emirates uae, including population density, vital statistics, immigration and emigration data, ethnicity, education levels, religions practiced, and languages spoken within the uae. The uae will remain politically stable in 202024 despite rising regional tensions centred on iran. May 14, 2018 before oil was discovered in the 1950s the uae s economy was dependent on fishing and a declining pearl industry. Swiss franc and the japanese yen in 2015, the dollar will return to strengthen its. United arab recent developments emirates monetary policy.
Dubai will shortly host the world in a trade fair that will demonstrate its economic prowess across a broad swath of economic sectors. United arab emirates gdp growth rate 20002019 data 2020. Since then the country has become a major center for oil, commerce, and finance in the region. Sector contribution to overall gdp growth rate in 2017. Dubai has come a long way since the financial crash of 2008, expanding in a number of areas. Lastly, the paper tries to single out the new business sectors for the diversification and the development of the uaes economy. Therefore, a special section was devoted under this theme to cover vital statistics which includes births and deaths statistics according to the different. A fivepercent valueadded tax was introduced in january 2018. Apr 26, 2020 united arab emirates, federation of seven emirates along the eastern coast of the arabian peninsula. The gross domestic product in the united arab emirates expanded by 1. Population tables and lists by emirate, gender, nationality. The statistic shows the united arab emirates uae gross domestic. To download the statistic, please switch to the chart view. International energy agency, electricity information 2019.
Such contribution includes banking, tourism, commerce and real estate. Abu dhabis 2017 gdp estimates at current prices was aed 832,470 million. United arab emirates economy gdp, inflation, cpi and. Workforce in the uae the official portal of the uae. The uaes economy slowed last year according to recently released figures from the federal competitiveness and statistics authority fcsa, in line with other countries across the middle east. The imf ascribed uaes potentially strong economic growth in world economic outlook report to the increased contribution of nonpetroleum sectors, which registered a growth average of more than 6% in 2014 and 2015. The uae has one of the most open economies in the world. Jul 03, 2019 percentage change in short travel stays in the uae by origin country 2015 2017 share of international arrivals in the uae by length of stay 2015 show all statistics 4. But since oil exports began in 1962, the countrys society and economy have been. The opec agreement in november 2016 set a production target for the uae of 2. Sector contribution to the gdp for 2017 in per cent. The uaes economy, which grew 3 per cent in 2016, is expected to record growth of around 2 per cent for 2017, according to economists polled this month by bloomberg, thanks to a drop in oil. Consumer prices continue to decline in january march 3, 2020 consumer prices fell 0. The abu dhabi and dubai sovereign wealth funds have recorded lower returns 3 percent yoy fall in 2015 net profits resulting from global volatility.
Uae diabetes trends figures from the international diabetes federation idf revealed that, in 2017, 17. Nuclear power united arab emirates uae nuclear energy. United arab emirates economy, politics and gdp growth. There are over 1 million people living with diabetes in the uae, placing the country 15 th worldwide for ageadjusted comparative prevalence. Uae economy set to slow down uaes real gdp growth will slow in 2017, owing to oil production cuts weighing down abu dhabis economy, bmi research has said in a recent report. Workforce in the uae the official portal of the uae government. Uaes property prices continue to plummet global property guide. United arab emirates, federation of seven emirates along the eastern coast of the arabian peninsula. Total population of the united arab emirates uae data, statistics, estimates and figures.
The uaes strategic plan for the next few years focuses on economic. Consumer prices decline in february for 14th straight month. According to the annual economic report 2018 pdf, 540 kb, the total labour force in the uae in 2017 was 6447. Nuclear power united arab emirates uae nuclear energy abu. Percentage change in short travel stays in the uae by origin country 2015 2017 share of international arrivals in the uae by length of stay 2015 show all statistics 4. Monetary policy is tightening, as is liquidity in the banking system. The uae will remain politically stable in 202024, despite regional tensions centred on iran.