Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The UAE economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of the country’s best banks and safest banks are also available.
Basic Information
Government Type: Federation of monarchies
Capital City: Abu Dhabi
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank |
Central Bank of the United Arab Emirates |
|---|---|
| Currency |
Emirati dirhams (AED) |
| International Reserves |
USD 99.5 billion (2018) |
| Gross Domestic Product – GDP |
USD 426.6 billion (2018, estimate) |
| GDP (Purchasing Power Parity) |
Intl$ 723.7 billion (2018, estimate) |
GDP Data
| Real GDP growth |
2014 4.4% 2015 5.1% 2016 3.0% 2017* 0.8% 2018* 1.7% *Estimate |
|---|---|
| GDP per capita – current prices |
USD 40,711.5 (2018, estimate) |
| GDP per capita – PPP |
Intl$ 69,381.7 (2018, estimate) |
| GDP (PPP) – share of world total |
0.7% (2019) |
| GDP – composition by sector |
agriculture: 0.7% industry: 46.8% services: 52.5% (2018 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) | N/A |
| Inflation |
2015 4.1% 2016 1.6% 2017* 2.0% 2018* 3.1% 2019* -1.5% *Estimate |
The United Arab Emirates
Sustainable Finance
A Climate Change Conference Made In Dubai
Inflation & Debt
| Inflation |
2015 4.1% 2016 1.6% 2017* 2.0% 2018* 3.1% 2019* -1.5% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: AA Moody’s: Aa2 Standard & Poor’s / Moody’s (Updated January 2017) |
| Unemployment rate | N/A |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) |
2015 18.7% 2016 20.2% 2017* 20.0% 2018* 19.1% 2019* 20.1% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2015 -3.4% 2016 -2.0% 2017 -1.4% 2018* 1.2% 2019* -1.6% *Estimate |
| Market value of publicly traded shares |
2016 USD 221.4 billion 2017 USD 239.4 billion 2018 USD 235.5 billion |
| Largest Companies |
First Abu Dhabi Bank, Etisalat, Emirates NBD, Abu Dhabi Commercial Bank, Emaar Properties, DP World, Dubai Islamic Bank, Mashreq Bank, Abu Dhabi Islamic Bank |
Import/Export
| Exports as percent of GDP (Exports of goods and services) |
5.9% (2017) |
|---|---|
| Shares in world total merchandising export |
0.004% (2018) |
| Shares in world total commercial services export |
0.008% (2018) |
| Total exports |
USD 1.6 billion (2018 estimate) |
| Export commodities |
Opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems, and medical herbs |
| Total imports |
USD 8.3 billion (2018 estimate) |
| Import commodities |
Machinery and other capital goods, food, textiles, petroleum products |
| Exports – major partners |
India 56.5%, Pakistan 29.6% (2017) |
| Imports – major partners |
China 21%, Iran 20.5%, Pakistan 11.8%, Kazakhstan 11%, Uzbekistan 6.8%, Malaysia 5.3%(2017) |
Competitiveness & Trade
| Current account balance |
USD 37.8 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP |
9.1% (2018 estimate) |
| FDI inflows |
2016 USD 9,605 million 2017 USD 10,354 million 2018 USD 10,385 million |
| FDI Outflows |
2015 USD 460 million 2016 USD -1,131 million 2017 USD 162 million 2018 USD 5,183.1 million |
| Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
| Cross-border M&A deals worth over $3 billion completed in 2014 | Emirates Telecommunications Corp, Itissalat Al Maghrib SA, Morocco, USD 5.7 billion |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 16 out of 190 countries (2017) Subcategories: Starting a Business: 17 out of 190 countries Dealing with Construction Permits: 3 out of 190 countries Getting Electricity: 1 out of 190 countries Registering Property: 10 out of 190 countries Getting Credit: 48 out of 190 countries Protecting Minority Investors: 13 out of 190 countries Paying Taxes: 30 out of 190 countries Trading across Borders: 92 out of 190 countries Enforcing Contracts: 9 out of 190 countries Resolving Insolvency: 80 out of 190 countries |
| Global competitiveness ranking |
25 out of 141 countries (2019) |
| Index of Economic Freedom |
Ranking: 9 / Score: 77.6 (Mostly free) (2019) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Total Area |
83,600 sq km |
|---|---|
| Total Population |
1990 1.84 million 2000 3.00 million 2010 8.26 million 2015 9.58 million 2020* 11.08 million *estimate |
| Urban population as % of total population |
1960 73.5% 1980 80.7% 2000 80.2% 2020 86.5% |
| Population median age |
37.2 years (2018 estimate) CIA World Factbook / Population median age |
| Population growth rate |
1.44% (2018 estimate) |
| Life expectancy |
78.7 years (2018 estimate) |
| % of population living on less than $3.10 a day | N/A |
| Inequality of wealth distribution (Gini index) | N/A |
| Freedom House rating |
Political Rights: 7 Civil Liberties: 6 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed 24.3% Mobile 208.5% (2019) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population |
98.45% (2018) |
Language & Religon
| Languages |
Arabic (official), English, Hindi, Malayam, Urdu, Pashto, Tagalog, Persian |
|---|---|
| Literacy |
Total population: 93.8% Male: 93.1% Female: 95.8% (2015 est.) (age 15 and over can read and write) |
| Religions |
Muslim (official) 76%, Christian 9%, other (primarily Hindu and Buddhist, less than 5% of the population consists of Parsi, Baha’i, Druze, Sikh, Ahmadi, Ismaili, Dawoodi Bohra Muslim, and Jewish) 15% (2005 est |
World Rankings
| Population | 2.8 M |
|---|---|
| Mercer Cost of living index | N/A |
| C02 Emissions per capita |
1.9 metric tons per capita (2018) |
Global Finance Rankings & Awards: The United Arab Emirates
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000