United Arab Emirates Table of Contents
Gross Domestic Product (GDP): US$33.7 billion in 1989, about US$14,100 per capita. Real growth rate 11 percent in 1989.
Oil Industry: In 1987 oil and gas extraction contributed 36 percent of GDP. Petroleum products accounted for over 73 percent of exports (79 percent of exports in 1990). Abu Dhabi had largest reserves and most of production. Crude oil production 878 million barrels in 1991 (81 percent from Abu Dhabi).
Industry: Manufacturing constituted 9 percent of GDP in 1987. Oil refining and gas processing most important, followed by petrochemicals, utilities, and cement, all using oil or gas as fuel and feedstock. Government owned at least one-half interest in these plants. Dubai Dry Docks one of world's largest and most modern. Majority of industrial workers foreigners.
Agriculture and Fishing: Represented less than 2 percent of GDP in 1987. Production mostly vegetables, fruit, livestock, and poultry. Water shortages restrict farming. Fishing industry being developed.
Exports: US$20.5 billion in 1990, of which US$16.2 billion oil and gas. Remainder largely propane and butane and reexports. Japan, Singapore, and Republic of Korea (South Korea) primary petroleum markets.
Imports: US$11.2 billion in 1990. Principal imports manufactured goods, machinery, transportation equipment, food, and live animals. Japan, United States, and Western Europe major sources of imports.
Currency and Exchange Rate: UAE dirham. In 1994 US$1 = Dh3.67 (fixed rate).
Fiscal Year: Calendar year.
Data as of January 1993