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
Saudi Arabia–United Arab Emirates border dispute Saudi Arabia–United Arab Emirates border dispute The Saudi Arabia–United Arab Emirates border dispute was apparently resolved with the Treaty of Jeddah, which was signed at Jeddah, Saudi Arabia, on 21 August 1974. The provisions of the treaty were not publicly disclosed until 1995, when it was lodged with the United Nations. However, the United Arab Emirates never ratified the agreement. In 1949, Saudi Arabia under the rule of Ibn Saud and ARAMCO had made incursions to the Western Region of the Emirate of Abu Dhabi, due to the prospect of getting oil. Ibn Saud was also interested in ruling the