The United Arab Emirates has transitioned from a pearl diving and fishing economy to an oil-based economy following the discovery of oil in 1962. Now, the UAE has a GDP of $382.6 billion, with the oil crisis of 2014 prompting efforts to economically diversify and develop non-oil sectors like services and tourism. While the UAE does not publish official poverty rates, authorities have increased social programs to support standards of living and provide healthcare, education, housing and employment for citizens. The UAE's strategic location and significant financial reserves continue to support economic growth and make it an attractive destination for foreign investment and trade.

1. Santiago Medina, Juan Luis Perdomo, Lingjie Fan, Paula Madrigal & Carlota Román
United Arab Emirates
Its economy

2. Index
✤ Introduction
✤ Economical history
✤ How works its economy now?
✤ Features of the UAE's solid
economy
✤ Trade
✤ Rate of poverty

3. Introduction
✤ UAE is located in Western Asia
✤ It’s ruled by a federal
monarchy
✤ It’s composed by 7 emirates
✤ Recognized independence
from UK in 1971
✤ Islam is the predominant
religion

4. Economical
history
✤ Each emirate was responsible
of its own economy
✤ Pear diving, seafaring, fishing,
nomadic farming, date palm
cultivation
✤ Till discovery of oil (1962) and
development of Japanese
cultured pearls

5. How does
economy works?
✤ GDP of 382,6 thousands of millions.
✤ Oil crisis in 2014
✤ Inflation is projected to rise to 2.9% in 2018 due to
the VAT but is projected to moderate thereafter.
✤ Agriculture suppose an 0,8% of the GDP, industry
43,6% and 58,8% services sector.
✤ It’s the number 8 in economic freedom worldwide
✤ Dubai’s hosting of Expo 2020 — expected to draw
in 25 million visitors, boosting private
consumption and services exports.

6. Features of the
UAE's solid economy
✤ Strategic location
✤ Strong financial reserves
✤ Large sovereign wealth fund
✤ Promising investor home economies
✤ Government spending
✤ Policy of economic diversification
✤ Free zones
✤ FDI

7. Trade
It is the 25th largest export economy in the
world
The top exports of the United Arab Emirates
are Crude Petroleum ($36.4B), Gold ($27B),
Refined Petroleum ($19.1B), Diamonds
($8.22B) and Petroleum Gas ($6.97B)
Its top imports are Gold ($27.4B), Diamonds
($11.9B), Cars ($11.1B), Planes, Helicopters,
and/or Spacecraft ($10.4B) and
Broadcasting Equipment ($9.1B).

8. The top export destinations of the United Arab Emirates
are India ($18.4B), Switzerland ($16.9B), Japan ($15.7B),
China ($11B) and Oman ($10.6B).
The top import origins are China ($25B), the United
States ($17.2B), India ($15.5B), Germany ($14.7B) and
Japan ($9.2B).

9. Rate of poverty
✤ Poverty is not seen as a serious issue
✤ There is no official data on poverty
in the UAE. The government does
not release official data regarding
any local poverty levels.
✤ Average consumption for Emirati
house hold was 1477 $ in 2015
✤ Authorities have increased social
allocations, housing affordability,
education and healthcare provision
for nationals.

10. Bibliography
✤ https://www.worldbank.org/en/country/gcc/publication/
economic-outlook-april-2018-uae
✤ https://es.portal.santandertrade.com/analizar-mercados/
emiratos-arabes-unidos/politica-y-economia
✤ https://www.bbc.com/news/world-middle-east-14703998
✤ https://www.government.ae/en/about-the-uae/leaving-no-
one-behind/1nopoverty
✤ https://atlas.media.mit.edu/en/profile/country/are/