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
Politics of the United Arab Emirates the rulers of their respective emirates, and hold all of the council's political power. The other half, who have only advisory tasks and serve two-year terms, are elected by a 6,689-member electoral college whose members are appointed by the emirates. Members are required to be citizens of the emirate they represent, a minimum twenty-five years of age, and literate. Members of the Federal National Council are drawn from each emirate based on population and presided over by a speaker who is elected from among the Council's members. The council carries out the country's main consultative duties and has both a