Economy United Arab Emirates economy The latest economic indicators and demographic trends for the United Arab Emirates, including GDP, inflation, oil prices, trade, population, unemployment and more November 20, 2024, 7:08 PM Getty Images via Unsplash UAE economic indicators at a glance UAE nominal GDP UAE GDP per capita UAE GDP growth UAE oil breakeven prices The UAE's GDP has been on a general upward trajectory, largely thanks to the economies of Abu Dhabi and Dubai. There was significant volatility in the UAE's oil GDP in 2021 and 2023, but IMF projections show a recovery. Non-oil GDP growth in the UAE has been more consistent. The UAE's oil breakeven price has fluctuated, with a notable dip in 2022. It is projected to fall again in 2025. UAE inflation UAE lending, debt & account balance The UAE's inflation, measured via the consumer price index, has generally risen – with a notable jump in 2022. UAE government debt and lending are both falling, and the UAE's current account is positive although it is projected to fall in the coming years. UAE trade The UAE’s top 10 trade partners UAE trade picked up quickly after 2020 and the export growth rate is predicted to overtake its import growth rate in 2024. The UAE's top exports include oil, mineral fuels, precious stones and metals and electronic equipment, while its top imports include precious stones and metals, electronic equipment, machinery and nuclear reactors. UAE foreign direct investment UAE sovereign ratings UAE governance The UAE's inward foreign direct investment jumped in 2019 and has grown consistently since then. Outward FDI has been more volatile. The three major credit rating agencies – Fitch, Moody's and S&P Global – all give Abu Dhabi a high investment-grade rating. Moody's and Fitch also issue separate sovereign ratings for the UAE. The UAE's score in the Corruption Perceptions Index is the highest in the GCC. It was just one point below the US in the 2023 index. UAE population UAE life expectancy The UAE's population growth rate generally declined from 2014 to 2017 before steadying off at a consistent 0.8 percent. UAE life expectancy has picked up again since 2020. Expats in the UAE UAE expats’ country of origin The UAE's population has transformed over three decades, with expats in Dubai and Abu Dhabi driving the increase. Almost 90 percent of the UAE's residents come from abroad and well over a third of these are from India. UAE unemployment rate Education in the UAE The UAE's unemployment rates have been volatile, but are approaching pre-pandemic levels again. The UAE's Pisa scores are below the OECD averages across all three subjects. The 2022 results for the UAE and the 80 other countries that take part in the tests show the impact of Covid lockdowns on students. More economic indicators Saudi Arabia All GCC countries Middle East & North Africa The charts and tables on this page are for general information purposes only. AGBI aims to keep the information up-to-date and correct, but makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information. Any reliance you place on such information is therefore strictly at your own risk. All IMF, World Bank and United Nations data on this page is publicly available. The latest IMF World Economic Outlook was published on October 22 2024
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