ECONOMY AND RELATED INDICATORS

Economy - overview:
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Its wealth is based on oil and gas output (about 33% of GDP), and the fortunes of the economy fluctuate with the prices of those commodities. Since 1973, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. At present levels of production, oil and gas reserves should last for more than 100 years. The government has increased spending on job creation and infrastructure expansion and is opening up its utilities to greater private sector involvement.

GDP:
purchasing power parity - $51 billion (2001 est.)

GDP - real growth rate:
6% (2001 est.)

GDP - per capita:
purchasing power parity - $21,100 (2001 est.)

GDP - composition by sector:
agriculture: 3%
industry: 46%
services: 51%

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
5% (2000 est.)
Labor force:
1.6 million
note: 73.9% of the population in the 15-64 age group is non-national (July 2002 est.)

Labor force - by occupation:
services 78%, industry 15%, agriculture 7%

Unemployment rate:
NA%

Budget:
revenues: $20 billion
expenditures: $22 billion, including capital expenditures of $NA (2000 est.)

Industries:
petroleum, fishing, petrochemicals, construction materials, some boat building, handicrafts, pearling

Industrial production growth rate:
4% (2000)

Electricity - production:
38.7 billion kWh (2000)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2000)
nuclear: 0%

Electricity - consumption:
35.991 billion kWh (2000)

Electricity - exports:
0 kWh (2000)

Electricity - imports:
0 kWh (2000)

Agriculture - products:
dates, vegetables, watermelons; poultry, eggs, dairy products; fish