| ECONOMY |
| |
| Overview |
The
UAE has an open economy with a high per capita income and
a sizable annual trade surplus. Its wealth is based on oil
and gas output (about 33% of GDP), and the fortunes of the
economy fluctuate with the prices of those commodities. Since
1973, the UAE has undergone a profound transformation from
an impoverished region of small desert principalities to a
modern state with a high standard of living. At present levels
of production, oil and gas reserves should last for more than
100 years. The government has increased spending on job creation
and infrastructure expansion and is opening up its utilities
to greater private sector involvement. |
| GDP |
purchasing
power parity - $53.97 billion (2002 est.) |
| GDP
- real growth rate |
1.8% (2002
est.) |
| GDP
- per capita |
purchasing
power parity - $22,100 (2002 est.) |
| GDP
- composition by sector |
agriculture:
3%
industry: 46%
services: 51% (2000 est.) |
| Population
below poverty line |
NA% |
| Inflation
rate (consumer prices) |
2.8% (2002
est.) |
| Labor
force |
1.6 million
(2000 est.)
note: 73.9% of the population in the 15-64 age group is non-national
(July 2002 est.) (2000 est.) |
| Labor
force - by occupation |
services
78%, industry 15%, agriculture 7% (2000 est.) |
| Unemployment
rate |
NA% |
| Industries |
petroleum,
fishing, petrochemicals, construction materials, some boat
building, handicrafts, pearling |
| Industrial
production growth rate |
4% (2000)
|
