For its relatively small population size (6,072,475), the UAE has a strikingly powerful economy. It’s gross domestic product is $668.9 billion, ranking as the 33rd largest GDP in the world. Not only does the country possess a great deal of wealth, but it is spread equitably throughout the population because they have the 14th highest GDP per capita in the world ($67,900). While the country specializes in the extraction and processing of oil, some other prominent industries include aluminum, cement, fertilizer, construction materials, and textiles.

 

The UAE has used its economic dominance to establish their presence in the global marketplace. With $316 billion in exports and $246.9 billion in imports, not only is the UAE a major player in global trade, but they have a sizeable trade surplus. In fact, their current account balance of $8.782 billion is the 24th largest in the world. This balance represents net trade in merchandise and services, along with net earnings from net transfer payments, interest, and dividends. With its vast wealth and powerful presence in the global marketplace, the UAE has many of the tools necessary for economic success.