The economic side of the issue is very interesting for a lot of people because the UAE is a kind of economic miracle, built in the desert for a couple of decades.
The UAE economy is determined by a large oil production, which provides the greater part of government revenue and nearly all foreign exchange earnings. Main industries: oil and gas, petrochemical, fishing, metallurgy, shipbuilding and other small preserved traditional sectors of the economy in the UAE economy (oasis agriculture, fisheries, trade, transit trade).. Due to the accelerated development of the oil and gas industry in the UAE achieved the highest among the countries of the Arabian Peninsula, the average annual per capita income of the indigenous population.
In recent years, the share of oil and petrochemical industry in GDP is gradually reduced, giving way to such industries as real estate, trade, agriculture. GDP grew 8 times over the past quarter of a century.
GDP 370,293 bil. dollars
GNI per capita 43,170
GNI, PPP 646,194 billion
Government debt to GDP is 15.68
The inflation rate is now at 0,60, the previous rate was 1,76.
Unemployment Rate is 4,2 percent.
Сitizens are not taxed, but Corporate income tax rate is up to 55% for oil and gas corporations and foreign bank branches. 0 for others corporations.
Source: Worldbank, Trading economics, Worldwide Tax Summaries