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The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023. [ 5 ] The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was ...
1982 (age 41–42) Alma mater. University of Sheffield (Bachelor's degree in civil engineering) Abdulla bin Touq Al Marri (Arabic: عبدالله بن طوق المري; born 1982 [1]) is an Emirati politician. He has been the United Arab Emirates's Minister of Economy since July 2020 and is Chairman of the Securities and Commodities Authority. [2]
March 1992. Headquarters. Dubai. The Department of Economic Development (DED) of the Emirate of Dubai is a government body entrusted to set and drive Dubai's economic agenda within the broader governance systems of the United Arab Emirates. The DED and its agencies develop economic plans and policies, identify and support strategic sectors, and ...
mof.gov.ae. The Ministry of Finance (MoF) (Arabic: وزارة المالية) is the ministry of the federal government of United Arab Emirates which is responsible for public finances. The ministry's objective is to promote fiscal planning and fiscal sustainability of the federal government of the United Arab Emirates. The ministry is located ...
Ministry of the economy. A Ministry of Economy, Ministry of Commerce, Ministry of Economic Affairs, or Department of Commerce is a part of the government in most countries that is responsible for matters related to the economy or economic policy.
The United Arab Emirates (UAE) once largely known for its oil exports today has a diverse and highly developed economy. According to the UAE Economic Report 2009 released by the UAE Ministry of Economy in May 2010 the non-oil sector contributed 71.6 per cent to the UAE’s GDP, compared to 66.5 per cent in 2008, underscoring the success of the nation's economic diversification initiatives.
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
The UAE has a number of free zones across Dubai, [1] Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: [2] 100% foreign ownership of the enterprise. 100% import and export tax exemptions.