1996

The United Arab Emirates (UAE) is a federation of seven Emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain. Responsibility for policy, laws, and administration is shared among the federal authorities and the individual Emirates. Together, Abu Dhabi and Dubai account for over 85% of the country’s gross domestic product (GDP). The oil and gas sector accounts for around 30% of the UAE’s GDP, 41% of public revenues, and 26% of merchandise exports, excluding re-exports. Thus, economic diversification remains a priority of government policy.

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