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 states" arranged by location and in order of the date of the first leader styled "emir." Emirate An emirate is a political territory that is ruled by a dynastic Arabic or Islamic monarch styled emir. It also means "kingdom". Etymologically emirate or amirate ( ', plural: ') is the quality, dignity, office or territorial competence of any emir (prince, commander, governor etc.). In English, the term is pronounced or in British English and or in American English. The United Arab Emirates is a federal state that comprises seven federal emirates, each administered by a hereditary emir, these seven forming the