The United Arab Emirates.
Sheikh Zayed bin Sultan Al Nahyan
The founding father and the principal driving force behind the formation of the United Arab Emirates
Established on 02 December 1971, the United Arab Emirates is a federal country made up of seven emirates. The Federal Supreme Council is the highest constitutional authority in the country and is made up of the rulers of the seven emirates.
The total population, according to world bank estimates, is expected to reach 9.68 million in 2019.
Geographically the UAE shares borders with Qatar, Saudi Arabia and Oman with its total area of 83,600 km² as a country.
Economically the UAE is highly dependent on its massive oil and gas reserves. The UAE produces 3 million barrels of oil per day and has the sixth-largest oil reserves in the world. The UAE is an active leading country in the field of clean and renewable energy worldwide. Its immense efforts culminated by choosing Abu Dhabi to host the headquarters of the International Renewable Energy (Irena)
Abu Dhabi: is the capital city of UAE and the geographically and demographically the largest out of the seven emirates. Visit Abu Dhabi >>>
Dubai: is the commercial capital of UAE. A cosmopolitan city with more than 190 nationalities living in one global community. Known for luxury shopping, ultramodern architecture with the world tallest building the Burj Khalifa and a lively nightlife scene. Visit Dubai >>>
Sharjah: the UAE capital of culture. is the third populous and largest emirate in the United Arab Emirates after Abu Dhabi and Dubai. Sharjah is known for its profound cultural affiliations and is visited by millions of tourists every year. Geographically Sharjah sits next to Dubai and can be comfortably considered as its suburbs, as many people work in Dubai and live in Sharjah.Visit Sharjah>>>
Ajman: with an area of 260 square kilometres and is the smallest of the seven emirates. Ajman is one of the seven Emirates of the United Arab Emirates, Ajman’s an exceptional city of hospitality. In Ajman, beaches, quality-driven hospitality offerings or investment-friendly policies. Visit Ajman
The City of Abu Dhabi
The capital city of UAE
The land of the world tallest building
5. Umm Al Quwain: the least populated emirate in the UAE and the second smallest emirate of the seven emirates with a total area of approximately 720 sq. km. outlining 1% of the overall UAE area. Visit Umm Al Quwain>>>
6. Ras Al Khaimah: AKA "The Forgotten Emirate" Ras Al Khaimah and historically known as Julfar (total area size 2478 Sq. Km). Ras Al Khaimah has a vast coastline stretching to roughly 65 kilometres that brandied Ras Al Khaimah with beach resorts. This place is an ideal weekend getaway, full of hiking trails, and epic beach resorts are the norm Visit Ras Al Khaimah>>>
7. Fujairah: Out of the seven emirates, Fujairah is the only emirate with a coastline on the Gulf of Oman. Spreading at an approximately 1,166 km2 Fujairah is the fifth-largest emirate in the UAE. Sun-kissed beaches, majestic mountain ranges, and pleasant weather conditions conspire to present Fujairah as an exotic land, ripe for discovery by tourists and business persons alike. Visit Fujairah>>>
Ras Al Khaimah
Image courtesy: www.theculturetrip.com
Image courtesy: www.myconcierge.com
With exports exceeding 1.16 trillion dirhams, Emirati goods and products roam the world.
Not only did it achieve success locally, but the Emirati goods and products went further to enter the global markets to reach $ 316.9 billion (1.16 trillion dirhams) in 2018, with a growth rate of 1.1% compared to 2017.
According to the World Top Export site, Forbes, Foreign Trade, the US Bureau of Statistics, the World Trade Center, Investopedia, Wikipedia, and The World Factbook almost half of these exports 49.4%; are to countries such as Saudi Arabia, about 9.7%, India, 5.7%, Iraq, 5%, Oman, 4.6%, Switzerland 2.8%, China 2.3%, Belgium 2%, and Bahrain 2%.
With a population of about 9.7 million people, UAE exports at a size of $ 316.9 billion can translate to about $ 32.7 thousand (120,000 dirhams) for each individual residing and producing on the land of the Emirates. In 2018 and at a macro level, the UAE exports accounted for about 24% of the total GDP.
While this report focuses on exported goods, it should also be noted that the UAE has provided about $ 71.8 billion (263.5 billion dirhams) in export-related services to global clients, adding 9.9% of GDP to purchasing power parity. These figures include an estimated volume of re-exports.
Top Ten Export items
Ten commodities among the highest value in the country's exports during 2018:
1) Hydrocarbon products (Oil & Gas) at 92.5 billion dollars (339.4 billion dirhams) representing 29.2% of exports.
2) Precious stones and precious metals 45.9 billion dollars (168.4 billion dirhams) about 14.5%.
3) Electrical machinery and equipment $ 27.3 billion (100.19 billion dirhams)، or 8.6%.
4) Devices, including computers, are $ 17.6 billion (64.5 billion dirhams) about 5.6%.
5) Vehicles are 12.9 billion dollars (47.3 billion dirhams)، or 4.1%.
6) Aluminium, $ 6.4 billion (23.5 billion dirhams) with a rate of 2% 7) Plastic materials, $ 5.5 billion (20.18 billion dirhams) about 1.7%,
8) Tobacco and alternative manufactured materials, $ 4.5 billion (16.5 billion dirhams) at 1.4%,
9) Aircraft and space ships components 4.2 billion dollars (15.4 billion dirhams) 1.3%.
10) Perfumes and cosmetics, about 3.5 billion dollars (12.84 billion dirhams) 1.1%.
The top 10 exports account for more than two-thirds of the total value of these global exports at a rate of about 69.5%, as perfumes and cosmetics are the fastest growing with an increase of 48.4% since 2017. Mineral fuels that include oil are ranked second, which rose by 33.7% %, Thanks to raw and refined hydrocarbons.
As a member of the World Trade Organization (WTO) since 1996, the UAE has been supporting an open economy, with strong commercial ties with many countries around the world. Thanks to its open economy, favourable trade environment, and sustained and sustainable economic growth, the UAE has emerged as a global trade hub linking East and West.
As part of its initiatives to create an open and diversified economy, the state has worked to prepare its youth to find innovative solutions in the face of major challenges in sectors including trade, science, and others.
In a survey of a group of young people in the Arab world in 2019, the UAE was chosen as the best country to live in, for the eighth year in a row, according to the website of the UAE embassy in Washington.
Key Trade Partners
1) India: With regard to the top five largest exporting countries to the UAE market, India comes in the lead by about 17.5%, as it includes imported goods from it, cotton, accessories, gemstones, jewellery, factory yarn, textiles, marine products, machinery, tools, plastic, tea, and others.
2) China: With a 14% share of imports in the UAE, to include textile and clothing products, light industrial products, handicrafts, machinery, gold, copper, silver, iron and tin.
3) As for the share of the United States of America in the imports of the United Arab Emirates, it reaches 7.7% and includes transportation equipment, machinery, computers, electronics, chemicals, and the iron industry.
4) Germany includes the share of imports of the United Arab Emirates 5.6% and includes machinery, electronic devices, chemical products, measurement and control technology, iron and metals.
5) As for Japan, it is the fifth-largest exporting partner to the state, at a rate of 4.82%. UAE imports include transportation equipment, electrical machinery, public machinery, foodstuffs, ore and mineral fuel, according to the embassy website.
As for the top 5 partners for UAE exports, Japan is at the top with 17.1% to receive exports from the UAE, including crude oil and aluminium.
For India, it includes pearls, semi-precious stones, gold, pulp, sulfur, pyrite iron, ore, mineral scrap, organic and inorganic chemicals. And for South Korea, 6.1% include crude oil and petroleum products such as naphtha, liquefied natural gas, aluminium and copper.
As for the exports of the Emirates to Thailand, they constitute about 5.1% and include crude oil, scrap iron, gold and silver alloys, and chemicals.
198 global markets reached by the state's foreign trade
22 globally, the UAE ranked in services exports and 21 in services imports
1.63 trillion dirhams of general non-oil trade for the Emirates in 2018
AED 86 billion value of re-export phones to the world occupies first place
16th globally, UAE ranking in terms of merchandise exports
22.4٪ Europe share of the country's non-oil trade
20 globally, the UAE ranked in merchandise imports
36% share of non-oil foreign trade in free zones
25% gold share from Emirati exports
21%, is the share of Arab countries in the total international trade of the UAE, at a value of 341.2 billion dirhams
39.3% is the share of the Asia Pacific region in the total UAE trade