OUR REGIONS

Middle East - United Arab Emirates

Capital:

Abu Dhabi

Country Profile:

The United Arab Emirates (UAE) is a federation of seven states formed in 1971 by the then Trucial States after independence from Britain. Although each state - Abu Dhabi, Dubai, Ajman, Fujairah, Ras al Khaimah, Sharjah and Umm al Qaiwain - maintains a large degree of independence, the UAE is governed by a Supreme Council of Rulers made up of the seven emirs, who appoint the prime minister and the cabinet.

The late Sheikh Zayed, president of the UAE at its inception, was quick to seize on the potential of the oil industry. He oversaw the development of all the emirates and directed oil revenues into healthcare, education and the national infrastructure. The country's growing business sector and its tourist industry have helped to fuel a construction boom, with billions of dollars being pumped into showpiece schemes.

Main Trade Partners:

France, India, Italy, Japan, Singapore, UK, USA

Main Industries:

Oil & Gas, Financial Services, Construction, Tourism

Population:

4,621,399 (July 2008 CIA World Factbook est.)

Area:

83,600 sq. km.

GDP:

167.3 bn. (2007 IMF est.)

GDP Real Growth Rate:

7.4% (2007 CIA World Factbook est.)

GDP per Head:

$37,293 (2007 IMF est.)

GDP per Sector:

Services 38.9%, Industry 59.3%, Agriculture 1.8% (2007 CIA World Factbook est.)

Stock Market Capitalisation:

$138.5 bn. (2006 World Bank)

Exchange Rate:

1 UAE Dirham = 0.272 US$ (Fixed) 1 US$ = 3.674 UAE Dirhams
 

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