Does the United Arab Emirates have a good economy?

The United Arab Emirates’ economic freedom score is 70.2, making its economy the 33rd freest in the 2022 Index. The United Arab Emirates is ranked 1st among 14 countries in the Middle East and North Africa region, and its overall score is above the regional and world averages.

What is the rank of Dubai in economy?

Economy of the United Arab Emirates

Statistics
GDP rank	32nd (nominal, 2022) 34th (PPP, 2022)
GDP growth	1.7% (2018) 1.7% (2019e) −4.5% (2020f) 1.4% (2021f)
GDP per capita	$50,348 (nominal, 2022 est.) $78,255 (PPP, 2022 est.)
GDP per capita rank	21st (nominal, 2022) 7th (PPP, 2022)

What type of economy does United Arab Emirates have?

United Arab Emirates has an open market economy in which the prices of goods and services are determined by a free price system. United Arab Emirates is a member of the League of Arab States (Arab League) and the Gulf Cooperation Council (GCC).

Why is UAE so successful?

The high percentage of people thriving in the UAE clearly owes something to the resources the government has invested in the services that people see and use in their daily lives. Residents in the UAE express much greater satisfaction with the transportation infrastructure in the country now than in previous years.

How big is the UAE’s economy?

Since independence in 1971, UAE’s economy has grown by nearly 231 times to AED1.45 trillion in 2013. The non-oil trade has grown to AED1.2 trillion, a growth of around 28 times from 1981 to 2012.

How much of the UAE’s GDP is from oil revenue?

A third of the GDP is from oil revenues. The economy was expected to grow 4–4.5% in 2013, compared to 2.3–3.5% over the previous five years. Since independence in 1971, UAE’s economy has grown by nearly 231 times to AED1.45 trillion in 2013.

How big is the UAE’s non-oil trade?

The non-oil trade has grown to AED1.2 trillion, a growth of around 28 times from 1981 to 2012. The UAE’s economy is one of the most open worldwide, and its economic history goes back to the times when ships sailed to India, along the Swahili coast, as far south as Mozambique.

What are the main economic indicators in the United Arab Emirates?

The following table shows the main economic indicators in 1980–2017. Inflation below 2% is in green. (in Bil. US$PPP) With imports totaling $273.5 billion in 2012, UAE passed Saudi Arabia as the largest consumer market in the region. Exports totaled $314 billion, which makes UAE the second largest exporter in the region.