ic representation:
chief of mission: Ambassador William A. RUGH
embassy: Al-Sudan Street, Abu Dhabi
mailing address: P. O. Box 4009, Abu Dhabi; American Embassy Abu
Dhabi, Department of State, Washington, DC 20521-6010 (pouch)
telephone: [971] (2) 436691, 436692
FAX: [971] (2) 434771
consulate(s) general: Dubayy (Dubai)

Flag: three equal horizontal bands of green (top), white, and black
with a thicker vertical red band on the hoist side

@United Arab Emirates:Economy

Overview: The UAE has an open economy with one of the world's highest
incomes per capita and with a sizable annual trade surplus. Its wealth
is based on oil and gas output (about 40% of GDP), and the fortunes of
the economy fluctuate with the prices of those commodities. Since
1973, the UAE has undergone a profound transformation from an
impoverished region of small desert principalities to a modern state
with a high standard of living. At present levels of production, crude
oil reserves should last for over 100 years. Although much stronger
economically than most Gulf states, the UAE faces similar problems
with weak international oil prices and the pressures for cuts in OPEC
oil production quotas. The UAE government is encouraging increased
privatization within the economy.

National product: GDP - purchasing power parity - $62.7 billion (1994
est.)

National product real growth rate: -0.5% (1994 est.)

National product per capita: $22,480 (1994 est.)

Inflation rate (consumer prices): 5.1% (1994 est.)

Unemployment rate: NEGL% (1988)

Budget:
revenues: $4.3 billion
expenditures: $4.8 billion, including capital expenditures of $NA
(1993 est)

Exports: $24 billion (f.o.b., 1994 est.)
commodities: crude oil 66%, natural gas, re-exports, dried fish, dates

partners: Japan 35%, South Korea 5%, Iran 4%, Oman 4%, Singapore 4%
(1993)

Imports: $20 billion (f.o.b., 1994)
commodities: manufactured goods, machinery and transport equipment,
food
partners: Japan 12%, UK 10%, US 9%, Germany 7%, South Korea 5% (1993)

External debt: $11.6 billion (1994 est.)

Industrial production: growth rate 1.7% (1992 est.); accounts for 50%
of GDP, including petroleum

Electricity:
capacity: 4,760,000 kW
production: 16.5 billion kWh
consumption per capita: 5,796 kWh (1993)

Industries: petroleum, fishing, petrochemicals, construction
materials, some boat building, handicrafts, pearling

Agriculture: acc