United Arab Emirates
Official Country Name
United Arab Emirates
United Arab Emirates Overview
The Trucial States of the Persian Gulf coast granted the UK control of their defense and foreign affairs in 19th century treaties. In 1971, six of these states - Abu Zaby, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn - merged to form the United Arab Emirates (UAE). They were joined in 1972 by Ra's al Khaymah. The UAE's per capita GDP is on par with those of leading West European nations. Its generosity with oil revenues and its moderate foreign policy stance have allowed the UAE to play a vital role in the affairs of the region.
United Arab Emirates Economy
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Despite largely successful efforts at economic diversification, about 30% of GDP is still directly based on oil and gas output, and the fortunes of the economy fluctuate with the prices of those commodities. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up its utilities to greater private sector involvement. Higher oil revenue, strong liquidity, structural bottlenecks in the real estate sector, and cheap credit in 2005-06 led to a surge in asset prices (shares and real estate) and consumer inflation. In April 2004, the UAE signed a Trade and Investment Framework Agreement (TIFA) with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement (FTA) with the US. Higher oil revenue, strong liquidity, and cheap credit in 2005-06 led to a surge in asset prices (shares and real estate) and consumer inflation. Rising prices are increasing the operating costs for businesses in the UAE and degrading the UAE's allure to foreign investors. Dependence on a large expatriate workforce and oil are significant long-term challenges to the UAE's economy.
United Arab Emirates Location
United Arab Emirates is located in Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia
Region
United Arab Emirates is located in Asia
United Arab Emirates Population
United Arab Emirates has population of 2,602,713 (July 2006 est.)
United Arab Emirates Climate
United Arab Emirates has desert; cooler in eastern mountains
United Arab Emirates Terrain
flat, barren coastal plain merging into rolling sand dunes of vast desert wasteland; mountains in east
United Arab Emirates Natural Resources
petroleum, natural gas
Ethnic Groups in United Arab Emirates
United Arab Emirates has the following ethnic groups - Emirati 19%, other Arab and Iranian 23%, South Asian 50%, other expatriates (includes Westerners and East Asians) 8% (1982) note: less than 20% are UAE citizens (1982)
United Arab Emirates Religions
Muslim 96% (Shi'a 16%), other (includes Christian, Hindu) 4%
United Arab Emirates Languages
Arabic (official), Persian, English, Hindi, Urdu
United Arab Emirates Capital
United Arab Emirates capital is Abu Dhabi
United Arab Emirates Currency
United Arab Emirates currency is Emirati dirham
Map of United Arab Emirates
