United Arab Emirates - Economy
How is the economy of United Arab Emirates? Based on the information we have, United Arab Emirates has a

high-income, oil-driven Middle Eastern economy; fastest GDP growth of Gulf states; diversification through tourism, construction, and services; strong foreign direct investment orientation; continued government investment and business-friendly reforms

. Key agricultural products in this country include: dates, cucumbers/gherkins, camel milk, goat milk, tomatoes, chicken, goat meat, eggs, milk, camel meat (2023).
More about the economy of United Arab Emirates
Labor force 7.09 million (2024 est.)
Industrial production growth rate 0.8% (2023 est.)
Industries petroleum and petrochemicals; fishing, aluminum, cement, fertilizer, commercial ship repair, construction materials, handicrafts, textiles
Population below poverty line
Taxes and other revenues 0.6% (of GDP) (2023 est.)
Fiscal year
Exchange rates
Currency Emirati dirhams (AED) per US dollar -
Exchange rates 2024 3.672 (2024 est.)
Exchange rates 2023 3.672 (2023 est.)
Exchange rates 2022 3.672 (2022 est.)
Exchange rates 2021 3.672 (2021 est.)
Exchange rates 2020 3.672 (2020 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $237.931 billion (2024 est.)
Reserves of foreign exchange and gold 2023 $189.491 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $138.433 billion (2022 est.)
Public debt
Public debt 2017 19.7% of GDP (2017 est.)
Budget
Revenues $23.248 billion (2023 est.)
Expenditures $19.349 billion (2023 est.)
Budget surplus (+) or deficit (-)
Household income
Lowest 10% 2.8% (2018 est.)
Highest 10% 20.5% (2018 est.)
Average household expenditures
On food 12.2% of household expenditures (2023 est.)
On alcohol and tobacco 0.3% of household expenditures (2023 est.)
Imports
Imports 2023 $481.852 billion (2023 est.)
Imports 2022 $427.992 billion (2022 est.)
Imports 2021 $347.529 billion (2021 est.)
Imports (partners) China 19%, India 7%, USA 6%, Turkey 4%, Japan 4% (2023)
Comodities Imports force gold, broadcasting equipment, cars, refined petroleum, diamonds (2023)
Exports
Imports 2023 $481.852 billion (2023 est.)
Imports 2022 $427.992 billion (2022 est.)
Imports 2021 $347.529 billion (2021 est.)
Exports (partners) China 11%, India 11%, Japan 10%, Iraq 6%, Thailand 4% (2023)
Comodities Exports force crude petroleum, refined petroleum, gold, broadcasting equipment, natural gas (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $745.994 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $718.95 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $693.842 billion (2022 est.)
GDP (official exchange rate) $537.079 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $68,600 (2024 est.)
Real GDP per capita 2023 $68,600 (2023 est.)
Real GDP per capita 2022 $68,900 (2022 est.)
GDP - composition, by sector of origin
Agriculture 0.7% (2023 est.)
Industry 47.7% (2023 est.)
Services 51.6% (2023 est.)
GDP - composition, by end use
Household consumption 45.6% (2023 est.)
Government consumption 12.4% (2023 est.)
Investment in fixed capital 27.1% (2023 est.)
Investment in inventories 0% (2023 est.)
Exports of goods and services 108.6% (2023 est.)
Imports of goods and services -93.7% (2023 est.)
Unemployment rate
Unemployment rate 2024 2.2% (2024 est.)
Unemployment rate 2023 2.2% (2023 est.)
Unemployment rate 2022 2.9% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 6.4% (2024 est.)
Male 4.1% (2024 est.)
Female 12.1% (2024 est.)
All Important Facts about United Arab Emirates

Want to know more about United Arab Emirates? Check all different factbooks for United Arab Emirates below.

United Arab Emirates is found in Western Asia