Flag description:
three equal horizontal bands of green (top), white, and black with
a wider vertical red band on the hoist side
Economy United Arab Emirates
Economy - overview:
The UAE has an open economy with a high per capita income and a
sizable annual trade surplus. Its wealth is based on oil and gas
output (about 33% 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, oil and gas reserves
should last for more than 100 years. The government has increased
spending on job creation and infrastructure expansion and is opening
up its utilities to greater private sector involvement.
GDP:
purchasing power parity - $53.97 billion (2002 est.)
GDP - real growth rate:
1.8% (2002 est.)
GDP - per capita:
purchasing power parity - $22,100 (2002 est.)
GDP - composition by sector:
agriculture: 3%
industry: 46%
services: 51% (2000 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
2.8% (2002 est.)