Dates, Vegetables, Watermelons; Poultry, Eggs, Dairy Products, Fish
Petroleum and petrochemicals, Fishing, Aluminum, Cement, Fertilizers, Commercial ship repair, Construction materials, Some boat building, Handicrafts, Textiles
The UAE has an open economy with a high per capita income and a sizable annual trade surplus.
Since the discovery of oil in the UAE more than 30 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living.
The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement.
In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US; however, those talks have not moved forward.
The country’s Free Trade Zones – offering 100% foreign ownership and zero taxes – are helping to attract foreign investors.
$370.6 billion (2014 est.)
$239.8 billion (2014 est.)
Crude Oil 45%, Natural Gas, Re Exports, Dried Fish, Dates
Machinery and Transport Equipment, Chemicals, Food
Main export partners
Japan 14.8%, Iran 11.4%, India 9.6%, South Korea 5.7%, China 5.5%, Singapore 5.4%, Thailand 4.5% (2014)
Main import partners
China 15.7%, India 13.4%, US 8.9%, Germany 5.3% (2014)
Source: CIA World factbook