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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

Faced with an economic storm in 2015, Dubai’s response has been to plan for the long term

Dubai adopts cautious stance Subscription

18 December 2014 | By

Faced with an economic storm in 2015, the emirate’s response has been to plan for the long term

Sultan Ahmed bin Sulayem, chairman of DP World

Interview: Sultan Ahmed bin Sulayem, chairman, DP World Subscription

18 December 2014 | By

International ports operator DP World is cementing itself as a global trade player with major plans for future growth, according to its chairman. Rebecca Spong reports

Oil

Impact of falling oil prices on the UAE Subscription

17 December 2014

Like Kuwait and Qatar, the UAE is well prepared to deal with a period of low oil prices. It has substantial fiscal reserves, a relatively low breakeven price, and the strongest non-oil economy in the region

Oil, gas and chemical awards in the GCC

GCC oil and gas spending hits four-year high in 2014 Subscription

15 December 2014 | By

Kuwait leads spending as Saudi Arabia has weakest year for contracts since 2004

Cloud computing

Interview: Richard Longdon, CEO, Aveva Solutions Subscription

14 December 2014 | By

Cloud computing is the future for oil and gas, but customers have to adapt their mindset, says Aveva CEO Richard Longdon.

WTI spot price

Riding out low oil prices Subscription

4 December 2014 | By

GCC nations brace for budget deficits as Opec offers no oil price support

UAE Federal National Council

UAE federal union stronger than ever Subscription

4 December 2014 | By

After 10 years of leadership by Sheikh Khalifa bin Zayed al-Nahyan, the UAE’s profile regionally and internationally is at its highest

Dubai construction

Dubai opts for innovative funding Subscription

4 December 2014 | By

Developers and the government are looking to diversify how they finance construction projects in the emirate, with more initial public offerings and bond issues taking place

Proposed Etihad railway stations

National railway running on time Subscription

4 December 2014 | By

Etihad Rail is developing a double-track network across the UAE and the first phase is on schedule for completion by the end of the year

Ras al-Khaimah

Bringing business to Ras al-Khaimah Subscription

4 December 2014

The CEO of Ras al-Khaimah Investment Authority, Rino Sabatino, is responsible for steering the entity’s highly focused mandate to drive industrialisation in the emirate

Filter UAE analysis by sector

MEED comment

Saudi Aramco's Khurais oil field in Saudi Arabia

Why GCC producers are happy to see oil fall

18 December 2014 | By

The GCC’s oil producers will be the biggest winners from the 2014 oil price crash

Dubai Marina

Robust Dubai can weather 2015 storm

18 December 2014 | By

Challenging year ahead is not cause for worry yet

Opec secretary-general Abdullah al-Badri

Opec sets the tone for 2015

15 December 2014 | By

Regional producers are not about to cut oil production and the assumptions that have underpinned forecasting in recent years have to be revisited

The planned Dubai World Expo 2020 site

Expo progress will reverse declining sentiment

11 December 2014 | By

Construction companies are less optimistic about the future as 2015 approaches

The downwards revision of population estimates for Abu Dhabi means cuts in investment are likely to follow

Abu Dhabi government gets breathing space

11 December 2014 | By

The downwards revision of population estimates for the emirate means cuts in investment are likely to follow

The GCC’s well-funded security forces mean large-scale attacks on high-profile targets are unlikely

Security situation looks more uncertain in GCC

11 December 2014 | By

Recent terror attacks in the GCC show it will be hard to prevent attacks on Western interests

UAE President Sheikh Khalifa bin Zayed al-Nahyan

More confident UAE emerging

4 December 2014 | By

Sheikh Khalifa has continued father’s upward momentum despite economic challenges

While Abu Dhabi's decision to reform tariffs is a brave one, implementing them will prove the real challenge

Abu Dhabi leads the way with tariff reform

20 November 2014 | By

Enforcing new utility tariffs may provide stiff challenge for government

More MEED commentary

Special Reports

Opec secretary-general Abdullah al-Badri

Opec sets the tone for 2015

15 December 2014 | By

Regional producers are not about to cut oil production and the assumptions that have underpinned forecasting in recent years have to be revisited

The Burj al-Arab, in Dubai

UAE: Funding Dubai's new building boom

4 December 2014

Economic diversification is essential to the future of the UAE

Abu Dhabi, capital city of the UAE

UAE: Abu Dhabi adopts more assertive foreign policy Subscription

10 September 2014

Rapid development over the past 20 years has turned the UAE into an economic powerhouse in the Middle East

Region: Political stability a must to be able to go nuclear

Nuclear: Backing key to plans Subscription

7 August 2014

The highly regulated nature and requirements of the nuclear power industry means foreign support is key to the region’s ambitions

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

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 Baraka Nuclear Power Plant: Reactor 1 Power 3,100
4 Abu Dhabi Airport Expansion: Midfield Terminal Complex Transport 2,960
5 Baraka Nuclear Power Plant: Reactor 2 Power 2,500
6 Ruwais Carbon Black and Delayed Coker Project Oil 2,470
7 Dubai Pearl: Towers Construction 2,400
8 Baraka Nuclear Power Plant: Reactor 4 Power 2,000
9 Nasr: Phase 2: Full Field Development: Package 2: Platforms & Wellheads Oil 1,900
10 Umm Al Lulu Field Development: Full Field Development: Phase 2: Package 2 Oil 1,690
Click through to the full data table on the UAE's biggest projects in construction
Click through to MEED's Q3 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: November 2014; All projects are in execution

Project awards

Building works

Al-Jaber wins $125m Upper Zakum contract Subscription

16 December 2014 | By

UAE contractor to carry out civil works on artificial islands at Abu Dhabi offshore oil field

Tecnimont wins $2.3bn Al-Dabbiya field deal

Tecnimont wins $2.3bn Al-Dabbiya field deal Subscription

15 December 2014 | By

Italian firm to carry out third-phase expansion of surface facilities at Abu Dhabi field

Petrochemicals plant

Tebodin wins UAE oil and chemical design deals Subscription

10 December 2014 | By

Projects include carbon dioxide recovery for Abu Dhabi Gas Industries

The Al-Mina area of Dubai (foreground) with Dubai Maritime City (background)

Omniyat maritime city project commences Subscription

10 December 2014 | By

Omniyat announce details of new project

CH2M Hill wins Al-Ain carriageway contract

CH2M Hill wins Al-Ain carriageway contract Subscription

1 December 2014 | By

US consultancy will carry out design and feasibility studies for Sarooj-Sanaiya project

Aluminium smelter

GE wins services deal on Abu Dhabi aluminium smelter turbines Subscription

27 November 2014 | By

US group awarded long-term contractual services agreement from Emirates Global Aluminium

Sheikh Mohammed bin Zayed Road, in Dubai

Dubai awards road upgrade contract Subscription

27 November 2014 | By

Work will involve upgrading roundabout on Sheikh Mohammed bin Zayed Road

Bam International has been awarded a contract to build marine infrastructure works for the third-phase expansion of the Al-Dabbiya oil field in Abu Dhabi

Bam wins $88m deal on Al-Dabbiya marine works Subscription

20 November 2014 | By

Dutch company to carry out work on shallow-water oil field development in Abu Dhabi

Technip wins Abu Dhabi offshore project management deal

Technip wins Abu Dhabi offshore project management deal Subscription

17 November 2014 | By

French engineering group to oversee three construction packages on Nasr field

GE Oil & Gas wins Abu Dhabi gas turbine deal

GE Oil & Gas wins Abu Dhabi gas turbine deal Subscription

12 November 2014 | By

US group to supply technology for Umm al-Lulu full-field development

Projects trends

Gulf projects index

Iran decline pulls down Gulf index Subscription

18 December 2014

Islamic Republic’s fall in value cancels out growth in UAE, Oman and Kuwait

Value of projects planned or under way 2 Dec.jpg

Kuwait growth fails to lift Gulf index Subscription

4 December 2014

UAE records biggest decline in value of projects market since August

Gulf projects index

Qatar and UAE buoy Gulf index Subscription

27 November 2014

All other Gulf countries except Oman record declines in value

More Gulf Projects Index

Clients

People

Stuart Bowie Subscription

16 October 2014

Stuart Bowie is managing director at GAC Dubai

Nicholas Browne Subscription

16 October 2014

Nicholas Browne is global director at GAC Bunker Fuels Ltd.

Meena Mathews Subscription

16 October 2014

Meena Mathews is Gulf Agency Company’s regional manager, P&I for the Middle East Region

Nabil Ibrahim

Nabil Ibrahim Subscription

22 September 2014

Nabil Ibrahim

Valerie Lindsay

Valerie Lindsay Subscription

22 September 2014

Valerie Lindsay is dean of faculty of business, University of Wollongong in Dubai

Christopher Abraham

Christopher Abraham Subscription

22 September 2014

Christopher Abraham is head of Dubai campus, senior vice-president of institutional development, S P Jain School of Global Management

More UAE biographies

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MEED events

Arabian Hotel Investment Conference 2014

Arabian Hotel Investment Conference 2015

Over a decade of defining the hotel investment landscape

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