UAE Economy Research Paper

Economics of the UAE

majorly driven by the oil explorations vast oil reserves are found within the region.

Oil contributes the highest GDP to the UAE.

UAE's economy is one of the most open in the world.

Economics of the UAE

The economy of the UAE and other Arab countries is majorly driven by the oil explorations that are as a result of the vast oil reserves that are found within the region. Oil is the single natural resources that contribute the highest GDP to the UAE to an extent that foreign explorers are also involved in the mining and processing of the oil. It shapes both the economic trends as will be seen below and also the leadership and the politics of the region.

Inflation in UAE has been recorded at 2%

Despite the global credit crunch and recent crisis in Dubai, reports indicate that Dubai has the lowest unemployment rate

UAE unemployment rate went down to 4.2% last year

UAE to run a budget surplus of 6.6% of the GDP in 2014

Economic outlook is positive with a GDP growth expected at 4.7% in 2014.

The economy of UAE

UAE's economy is one of the most open in the world. Inflation in UAE has been recorded at 2% in May 2014 up from 1% in 2013. The key driver to inflation will be the house process as the inflationary impact of food goes down. Despite the global credit crunch and recent crisis in Dubai, reports indicate that Dubai has the lowest unemployment rate as a result of a high level of economic activity. The UAE unemployment rate went down to 4.2% last year from an initial double digit. UAE will run a budget surplus of 6.6% of the….....