UAE - United Arab Emirates Member
United Arab Emirates boasts strategic location along with the southern approaches to the Strait of Hormuz as it is situated on the north-eastern margin of the Arabian Peninsula.
It is bounded to the west and south by the border with Saudi Arabia, to the east by the Gulf of Oman, to the southeast by the border with the Sultanate of Oman, as well as sharing maritime boundaries with Qatar, Oman and Iran.
The UAE is a constitutional federation of seven emirates with a single national president.
Although the UAE was heavily dependent on revenues from hydrocarbons in the initial years, it is relatively well insulated from periods of low oil prices due to successful economic diversification, large foreign exchange reserves and overseas investments.
Besides the petroleum sector, construction, manufacturing, import-export, tourism, and financial service sectors are fairly well developed. In addition, the UAE has one of the best infrastructures in the world with superb multi-lane highways, state of the art communications, and a well-connected network of world-class airports and ports.
|Language(s)||Arabic (official), English|
|National currency||United Arab Emirates Dirham|
|Labor force (inhabitants)||6,579,221|
|GDP (current billion US$)||507.53|
|GDP per capita (current US$)||53,757.86|
|GDP growth (percentage)||7.41|
|Exports of Goods and Services (current billion US$)||NA|
|Proven natural gas reserves (billion c.m.)||8,210.00|
|Natural gas marketed production (billion c.m.)||55.57|
|LNG exports (billion c.m.)||7.58|
|Domestic natural gas consumption (billion c.m.)||69.49|