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Trade & Investment |
The United Arab Emirates has a very robust, well-diversified economy that encourages entrepreneurship and innovation. In 2004, the UAE’s GDP growth rate averaged 8%, totaling at $103 billion.
Although a large oil producing country, the UAE does not rely on its oil resources as a primary area of GDP growth. In fact, less than 30% of our GDP is oil related, whereas the rest is diversified into other sectors including financial services, manufacturing, tourism, real estate and others.
The United Arab Emirates and the United States enjoy a very robust trading relationship. Over the past years, US exports to the UAE more than doubled, leaving the US in 2005 with a trade surplus of over$7 billion. Today, the UAE is the third largest trading partner to the US. In 2005, the US has exported $8.4 billion worth of goods to the UAE, whereas the UAE exported only $1.6 billion.
There are over 500 US Companies stationed in the UAE, choosing it as their Middle East headquarters. Almost 20,000 Americans live in the UAE.
The UAE is currently negotiating a FTA with the US.
Please refer to www.uaeinteract.com and to the UAE Economy section of this site for further details on the UAE’s economic growth.
The below figure represents State Exports to the UAE in 2005. (Source: www.Export.gov)
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©2007 UAE Embassy In Washington DC