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
Economic indicators of the United Arab Emirates : Growth
|Main Indicators||2017||2018||2019 (e)||2020 (e)||2021 (e)|
|GDP (billions USD)||377.70e||414.18e||405.77||414.02||426.80|
|GDP (Constant Prices, Annual % Change)||0.5||1.7e||1.3||-3.5||3.3|
|GDP per Capita (USD)||37,252e||39,709e||37,750||37,375||37,386|
|General Government Gross Debt (in % of GDP)||20.001||19.141e||20.135||20.328||20.319|
|Inflation Rate (%)||2.0||3.1||-1.9||-1.0||1.5|
|Current Account (billions USD)||27.50||37.85e||36.59||29.46||21.66|
|Current Account (in % of GDP)||7.3||10.0||7.4||1.5||4.1|