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UAE

Profile

Country data

Iran 2008 2009 2010 2011 2012f 2013f 2014f
Nominal GDP ($bn) 315.5 254.8 287.4 348.6 383.8 390.0 403.9
GDP per capita ($) 39.075 31.074 34.778 40.951* 43.774 43.185 43.424
Real GDP growth (annual change, %) 3.2 -4.8 1.7 3.9 4.4 4.0 3.9
Government revenue (% of GDP) 39.0 27.1 29.6 34.3 35.1 34.3 33.6
Government total expenditure (% of GDP) 17.5 27.6 25.0 23.3 21.8 23.3 22.7
Total government debt (gross, % of GDP) 12.5 23.9 22.1 17.4 16.6 16.7 16.8
Current account balance (% of GDP) 7.1 3.1 2.5 14.6 17.3 15.2 15.6
Value of oil imports 0 0 0 0 0 0 0
Value of oil exports 103 68.1 74.6 111.6 116.8* 116.4 113
Inflation (%) 6.6 1.2 0.9 0.8 1.1 2.0 2.5
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: June 2014

Doing business in...

A guide to doing business in the UAE

MEED’s guide to doing business in the UAE

An essential companion for anybody seeking to do business in or with the federation of the United Arab Emirates

UAE trends

Middle East contracts awarded June 2014

Middle East contracts awarded: June 2014 Subscription

31 July 2014

Over $6bn of contracts awarded in June in the Middle East

Middle East rig count on the rise

Middle East rig count on the rise Subscription

31 July 2014 | By

The region is now the world’s second-biggest market for operating oil rigs

The Louvre Abu Dhabi

The GCC’s growing art spend Subscription

24 July 2014 | By

Qatar and Abu Dhabi are among the states muscling in on the international art market

Dubai Mall

Dubai's 13 biggest shopping mall developments Subscription

21 July 2014 | By

Mall of the World tops the $2.7bn-worth of Dubai-based shopping centre projects in MEED’s list

UAE upstream

UAE upstream awards dominated by Petrofac and NPCC Subscription

16 July 2014 | By

Nasr award brings total National Petroleum Construction Company haul to $4.3bn since 2012

Additional capacity requirements 2013-20

Mirfa IWPP marks first private utility award of the year Subscription

9 July 2014 | By

Three independent utility schemes were awarded in 2013

Dubai Multi-Commodities Centre

DMCC fuels commodity flows through Dubai Subscription

8 July 2014 | By

Dubai’s diamond and gold trade soars

Markets

Market regulators must toughen up Subscription

3 July 2014 | By

The sharp fall in UAE contractor Arabtec’s share price has led to calls for tougher regulation

Al-Mahmoudi: Relationship with Dubai very important

Regional market key to Sharjah's economic growth Subscription

3 July 2014 | By

Hussain Mohamed al-Mahmoudi, the director-general of Sharjah Chamber of Commerce, highlights the role trade plays in Sharjah’s economic growth

Oil offshore

Oil exporters put the brakes on spending Subscription

12 June 2014 | By Dominc Dudley

Oil exporters are starting to trim spending to keep budgets more in line with oil prices

Filter UAE analysis by sector

MEED comment

Regional: Interest in contemporary art is growing

Art investors grow cautious

24 July 2014 | By

The global economic recession affected art sales as well. Its fallout has ensured the region’s art market is growing at a steady yet cautious pace

Drilling

Abu Dhabi moves on oil concession

24 July 2014 | By

Bids submitted for Adco onshore operations, but major contender ExxonMobil has left the race

Nakheel Nad al-Sheba

Dubai developers must end sales price concerns

19 July 2014 | By

Developing cash-generating assets requires funding, but delivers long-term revenues

Dubai Metro: Expansion could link to more areas

Metro progress is a promising sign

17 July 2014 | By

Both Dubai and Doha will benefit in the long term from the metro projects under way for World Cup and Expo

Biggest mall: Mall of the World is back on track

New mall depicts cautious approach

10 July 2014 | By

The change in location for Dubai’s Mall of the World shows developers are continuing to be risk-averse

Dubai construction

'Come and we will build' now Dubai's mantra

10 July 2014 | By

Risk averse developers break from ‘build and they will come’

The Mall of the World site as seen from Sheikh Zayed Road

Dubai must grow for world’s biggest malls

6 July 2014 | By

Almost every major shopping centre in the emirate is being expanded

UAE: Greater transparency needed in capital markets

UAE regulator under pressure

3 July 2014 | By

The dramatic slump in Arabtec Holding’s share price shows more action is needed to tackle suspicious behaviour on the stock markets

More MEED commentary

Special Reports

Sharjah

UAE: Dubai boom boosts northern emirates

29 May 2014

Spreading the wealth

GCC real estate

Real Estate: GCC property markets stabilising Subscription

18 March 2014

There is an uptick in demand for residential and commercial property across the region, with just one or two exceptions

UAE

UAE: Project spending picks up in Abu Dhabi Subscription

27 February 2014

Following a spending review in 2011, project activity is picking up in Abu Dhabi

UAE

Delivering Dubai Expo 2020

27 January 2014 | By

Big bang beginning to a year of fresh starts

More UAE special reports

Market presentations

Dubai creek

Managing the Boom: The Outlook for the Middle East Subscription

23 July 2014

Opportunities and challenges for businesses in the region created by the new projects boom

UAE

Webinar: Impact of Expo 2020 on Dubai construction Subscription

4 February 2014

Dubai is expected to spend more than $7bn on infrastructure in preparation for the World Expo

Middle East Outlook 2013

A region in transition: Middle East outlook 2013 and beyond Subscription

18 August 2013

Insight and analysis on the economic and projects outlook for the Middle East

Project Finance

Webinar: Middle East project finance outlook Subscription

17 June 2013

Market constraints to continue, with deals flowing to most stable markets in the region

Mena renewables 2013

Webinar: MENA Renewable Energy Subscription

12 May 2013

In this presentation, MEED discusses the trends and prospects for renewable power in the region

After the Uprisings webinar

After the Uprisings: The outlook for business in the Middle East in 2013 and beyond Subscription

4 March 2013

A webinar on the region’s business environment, providing current data and exclusive expert analysis drawn from MEED’s team of experts

Top 100 projects 2012

Top 100 projects: The Middle East market gains momentum Subscription

3 February 2013

This webinar examines projects market trends in the region and forecasts which countries and sectors will grow in 2013

Wastewater

Webinar: Project opportunities in GCC wastewater Subscription

15 May 2012

Join MEED for an exclusive online seminar looking at the Gulf wastewater sector

Barzan: The gas project raised $5.7bn

Rebuilding the Middle East: Prospects for the projects market 2012 Subscription

6 February 2012

MEED’s webinar looks at expected growth in the Middle East and North Africa

More MEED webinars

Top 10 projects

Rank

Rank Project Name Sector Contract value ($m)
1 Baraka Nuclear Power Plant: Reactor 3 Power 4,000
2 Upper Zakum Full Field: Early Production Facility: Offshore: EPC 2 Oil 3,790
3 Ajman International Airport Transport 3,267
4 Ruwais Refinery Expansion Project: Process Package 2 (RFCC) Oil 3,109
5 Barakah Nuclear Power Plant 1 Power 3,100
6 Abu Dhabi Airport Expansion: Midfield Terminal Complex Transport 2,960
7 Ruwais Refinery Expansion Project: Package 3: Offsites & Utilities Oil 2,700
8 Barakah Nuclear Power Plant 2 Power 2,500
9 Ruwais Carbon Black and Delayed Coker Project Oil 2,470
10 Ruwais Refinery Expansion Project: Process Package 1 (CDU) Oil 2,100
Click through to the full data table on the UAE's biggest projects in construction
Click through to MEED's Q1 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: April 2014; All projects are in execution

Project awards

Six Construct wins Ferrari World Abu Dhabi expansion

Six Construct wins Ferrari World Abu Dhabi expansion Subscription

31 July 2014 | By

Attraction already the world’s largest indoor theme park

Actco to build Dubai Bollywood theme park

Actco to build Dubai Bollywood theme park Subscription

30 July 2014 | By

Project being built in Jebel Ali area

Dubai Electricity & Water Authority

Dewa awards contract to improve water networks Subscription

16 July 2014 | By

Dubai Electricity & Water Authority project is aimed at boosting efficiency of emirate’s water transmission services

Solar panels

Dewa awards contract for solar centre Subscription

16 July 2014 | By

Innovation centre will be located at Mohammed bin Rashid Al-Maktoum Solar Park

NPCC and Petrofac lead UAE awards

NPCC awarded package one of Nasr field development Subscription

15 July 2014 | By

Local group considers remarkable run of contracts in Abu Dhabi offshore sector

Joint venture wins Dubai Expo metro line contract Subscription

14 July 2014 | By

Parsons and Systra to complete preliminary engineering for rail project

Honeywell technology selected for Fujairah biofuels refinery Subscription

10 July 2014 | By

Project owner Petrixo to use US group’s jet fuel and diesel knowhow at $800m facility

Abu Dhabi energy awards 2009-2014

Consortium wins $2bn-plus contract on Nasr field Subscription

9 July 2014 | By

Relief for South Korean group with major award after long drought in Abu Dhabi offshore market

Arabian Construction Company wins Emaar towers deal Subscription

9 July 2014 | By

Contract marks second major order secured by the contractor in the Downtown Dubai development this year

Brookfield Multiplex wins Majid al-Futtaim mall construction deal Subscription

8 July 2014 | By

New retail centre will be built at the International Media Production Zone

Projects trends

Gulf Projects Index

Iraq war weighs on Gulf index Subscription

24 July 2014

Increasing instability causes Iraq projects market to contract by $13bn

Gulf Projects Index

Dubai’s Mall of the World boosts index Subscription

17 July 2014

UAE and Bahrain are the outstanding markets of the week

Gulf Projects Index

Four Gulf states keep index stable Subscription

10 July 2014

Growth in Oman, Iraq, the UAE and Saudi Arabia cancels out decline in Kuwait

More Gulf Projects Index

People

John Abi-Hanna Subscription

27 July 2014

John Abi-Hanna is business development director, water, Middle East for Black & Veatch

Mazen Alami Subscription

27 July 2014

Mazen Alami is managing director, Middle East at Black & Veatch

Vishesh Bhatia Subscription

22 July 2014

Vishesh Bhatia is CEO Jumbo Group

Sam Mitchelle Subscription

20 July 2014

Sam Mitchelle is regional general manager, energy, Middle East at Black & Veatch

Pradeep Dhal Subscription

20 July 2014

Pradeep Dhal is director oil & gas sales, Middle East and India at Black & Veatch

Alain Renaud Subscription

12 July 2014

Alain Renaud is general manager for corporate, commercial and investment banking at Commercial Bank of Dubai

More UAE biographies

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MEED events

Smart Cities

Smart Cities 2014

Integrating Cities and Services. Strategies for implementing innovative services and enabling people, connections and networks.

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