United Arab Emirates

Economy

Industries involving the area's oil and natural-gas deposits are still critical to the economy, and provide the bulk of export earnings. However, the country's increasingly diversified economy relies also on international banking, financial services, regional corporate headquarters, and tourism. The traditional occupations of fishing and pearling are still practiced, and there is some agriculture (dates, vegetables, watermelon, poultry). Aluminum, fertilizer, and textiles are manufactured, and there is commercial ship repair. Imports include machinery and equipment, chemicals, and food; trading partners are Japan, India, Great Britain, South Korea, and China. The UAE has a large trade surplus.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.