United Arab Emirates Economic Growth

The economy of the United Arab Emirates is the second largest in the Middle East (after Saudi Arabia), with a gross domestic product (GDP) of USD 414 billion (AED 1.52 trillion) in 2018.

Tourism is one of the bigger non-oil sources of revenue in the UAE, with some of the world’s most luxurious hotels being based in the UAE. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy. Nationwide, there is currently $350 billion worth of active construction projects.

United Arab Emirates Economy Data

Population (million)
GDP per capita (USD)43,33537,37536,22037,24839,704
GDP (USD bn)403358357378414
Economic Growth (GDP, annual variation in %)
Consumption (annual variation in %)–  –  –  –  –  
Investment (annual variation in %)
Industrial Production (annual variation in %)
Unemployment Rate2.
Fiscal Balance (% of GDP)1.9-3.4-2.0-1.41.2
Public Debt (% of GDP)15.518.720.220.019.1
Money (annual variation in %)
Inflation Rate (CPI, annual variation in %, eop)
Inflation Rate (CPI, annual variation in %)
Policy Interest Rate (%)
Exchange Rate (vs USD)3.673.673.673.673.67
Exchange Rate (vs USD, aop)3.673.673.673.673.67
Current Account (% of GDP)
Current Account Balance (USD bn)53.617.613.227.537.8
Trade Balance (USD billion)10876.668.467.281.5
Exports (USD billion)343300295314317
Imports (USD billion)235224227246235
Exports (annual variation in %)-7.6-12.4-
Imports (annual variation in %)2.0-
International Reserves (USD)78.493.985.495.499.5
External Debt (% of GDP)48.367.669.972.668.6

Economic indicators of the United Arab Emirates : Growth

Main Indicators

Main Indicators201720182019 (e)2020 (e)2021 (e)
GDP (billions USD)377.70e414.18e405.77414.02426.80
GDP (Constant Prices, Annual % Change)0.51.7e1.3-3.53.3
GDP per Capita (USD)37,252e39,709e37,75037,37537,386
General Government Gross Debt (in % of GDP)20.00119.141e20.13520.32820.319
Inflation Rate (%)2.03.1-1.9-1.01.5
Current Account (billions USD)27.5037.85e36.5929.4621.66
Current Account (in % of GDP)7.310.