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Economic Overview
Key economic indicators for United Arab Emirates
GDP:
$718.95 billion
GDP per Capita:
$68,600
GDP Growth:
3.62%
Inflation:
1.63%
Unemployment:
2.71%
Public Debt:
19.7% of GDP
Credit Rating:
AA (2007)
Political System
Governance structure of United Arab Emirates
Government Type:
federation of monarchies
Head of State:
President MUHAMMAD BIN ZAYID Al Nuhayyan (since 14 May 2022)
Head of Government:
Prime Minister and Co-Vice President MUHAMMAD BIN RASHID Al Maktum (since 5 January 2006)
Judiciary:
Federal Supreme Court (consists of the court president and 4 judges; jurisdiction limited to federal cases)
Administrative Divisions:
7 emirates (imarat, singular - imarah); Abu Zaby (Abu Dhabi), 'Ajman, Al Fujayrah, Ash Shariqah (Sharjah), Dubayy (Dubai), Ra's al Khaymah, Umm al Qaywayn
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
Yes
Diplomatic Presence:
3522 International Court NW, Suite 400, Washington, DC 20008
Major Alliances and Organizations
BRICS
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
0.7% (2023 est.)
Industry
47.7% (2023 est.)
Services
51.6% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$335.238 billion
Imports:
$246.886 billion
Major Trading Partners
China 11
India 11
Japan 10
Iraq 6
Thailand 4
Economic Outlook
United Arab Emirates has a 3.62% GDP growth rate with 1.63% inflation. The economy is characterized by a strong agriculture sector.