Economy of United Arab Emirates

According to cheeroutdoor, the UAE’s unprecedented rate of economic growth was made possible by the production and export of oil, which provided one of the highest gross domestic product per capita in the world. UAE GDP, calculated at purchasing power parity of currencies, amounted to $ 51 billion; GDP per capita – $21,100 (2001). Real GDP growth 5% (2001). The share of the UAE in the world economy is insignificant, but the country provides 3.5% of world oil production. The number of economically active population is 1.6 million people. (2000), most of it is represented by immigrants.

Sectoral structure of the economy in terms of contribution to GDP (2000): agriculture 3%, industry 46%, services 51%. Structure of GDP by employment: services 78%, industry 15%, agriculture 7% (2000).

The main industry is oil and gas, which provides the production of approx. 33% of UAE GDP. It is controlled by the state through the state-owned oil companies of individual emirates. From Ser. 1970s all oil and gas reserves are declared the property of the state. On January 1, 1981, the entire distribution network was also nationalized in the country – gas stations, transport, storage facilities, which had previously belonged to foreign monopolies. Oil production: 96.8 million tons in 1977, 121 million tons in 1997. At the current level of oil production, the UAE’s oil reserves will last more than 100 years. Considerable attention is paid to the utilization of associated and natural gas. The implementation of industrialization projects in the oil and gas industry of the UAE was almost exclusively due to the public sector. From Ser. 1970s The government decided to transfer part of the produced oil to domestic processing. A course has been clearly outlined for the export of petroleum products, and not crude oil. A plan was implemented to increase oil refining capacity to 2.6 million barrels. per day in 2000 (compared to 15 thousand barrels per day in 1976). In the last 5 years, a program of massive multibillion-dollar investments in the gas industry and the production of liquefied gases has been carried out. Gas production in 1997-2000 was 39 billion m3 per year. The Abu Dhabi National Oil Company, which accounts for more than 90% of gas reserves, plans to invest more than $6 billion in 2003-06 alone, two-thirds of it into gas development. In 1997, about 3 million tons of jet fuel, 1.5 million tons of gasoline, about 2 million tons of oils, 1.1 million tons of naphtha, and 3.8 million tons of diesel fuel were produced. The petrochemical industries associated with the oil and gas industry are intensively developing. Complexes for the production of chlorine, caustic soda, granulated sulfur, ammonia, carbamide and other products, most of which are exported, have been put into operation.

Among other industries, energy (38.7 billion kW in 2000), water desalination (more than 900 thousand m3 per day, 1996), the aluminum industry (about 370 thousand tons in 1997 – 2nd place in East), building materials industry, textile, food (including fish processing), some types of shipbuilding, handicrafts, etc.

Agriculture is represented mainly by the production of dates, vegetables and fruits, poultry and eggs, cattle breeding, fishing (about 100 thousand tons of fish per year), and pearl mining. Fish consumption in the UAE is one of the highest in the world – 140 kg per capita. In the UAE, only 0.48% of land is suitable for cultivation. Unfavorable conditions for agricultural production are compensated by state assistance.

There are no railways in the UAE. The length of paved roads is 4835 km (1998). All emirates are connected by a first-class highway. The number of cars exceeded 350 thousand in the middle. 1990s Pipeline transport is developed: 830 km of oil pipelines and 870 km of pipelines for pumping gas, incl. liquefied. Maritime transport in the UAE includes 341 vessels. Among them are 56 ships with a total capacity of St. 1 thousand tons, including 13 dry cargo ships, 3 chemical tankers, 7 container ships, 1 liquefied gas tanker, 25 oil tankers, 1 poultry carrier, the total carrying capacity of these vessels is 1.25 million tons (2002). There are 15 seaports in the UAE, through which approx. 88 million tons per year, including exported oil. The country’s largest port is Rashid in Dubai, through which 70% of imports and re-exports pass. The 2nd port in the Jebel Ali zone in Dubai has the world’s largest artificial deep water harbor, 67 berths and 15 km of port embankments. Cargo turnover of both ports in ser. 1990s was more than 25.3 million tons. The next most important ports of the UAE are Mina Zayed in Abu Dhabi, Khalid in Sharjah, Saqr in Ras al-Khaimah, and others. There are 6 large modern airports of international importance in the UAE. In terms of traffic, the airports of Dubai, Jebel Ali, and Sharjah stand out first of all (handling 65% of the total UAE air and sea cargo traffic, more than 2180 tons of cargo per month). The airports of Fujairah and Ras al-Khaimah are very large. The UAE has created and is developing a modern communication system; in terms of the number of telephones per 1 inhabitant, the UAE occupies one of the first places in the Middle East. In total, more than 1.05 million landlines and 1.9 million mobile phones (2001). Internet access has been provided since 1995, there are St. 900 thousand users (2002). The UAE has 15 television and 2 radio stations, and 7 daily newspapers.

Economy of United Arab Emirates