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
Flag of the United Arab Emirates Flag of the United Arab Emirates The flag of the United Arab Emirates () contains the Pan-Arab colors red, green, white, and black. It was adopted on December 2, 1971. Merchant ships may fly the alternative civil ensign, a red flag with the national flag in the canton. All Emirates use the federal flag interchangeably as the flag of the emirate. Each of the seven emirates within the United Arab Emirates originally had a common red plain flag as each emirate's banner, the red banner represents the descension and allegiance to the prophet Muhammad. In 1820, six out of the