Economy of the United Arab Emirates Economy of the United Arab Emirates The economy of the United Arab Emirates is the second largest in the Middle East (after Saudi Arabia), with a gross domestic product (GDP) of $403.2 billion (AED 1.46 trillion) in 2014. The Emirates have been successfully diversifying its economy. Although the UAE has the most diversified economy in the GCC, its economy remains extremely reliant on petroleum (oil). With the exception of Dubai, most of the UAE is dependent on oil revenues. Petroleum and natural gas continue to play a central role in the economy, especially in Abu Dhabi. More than 85% of
Emirate of Sharjah while Abdulaziz would become the Deputy Ruler. Sultan, however, dismissed Abdulaziz quite quickly. In 1999, the Crown Prince (Sultan's eldest son) died while on vacation in their palace in England. Sultan made the decision to testify in front of a UK court. The new Crown Prince was appointed from a remote branch of the family. Sharjah is the third largest emirate in the United Arab Emirates, and is the only one to have land on both the Persian Gulf and the Gulf of Oman. The emirate covers which is equivalent to 3.3 per cent of the UAE's total area, excluding