This guide provides an overview of the United Arab Emirates’ (UAE) economy, including the country’s primary imports and exports.
Contents
UAE Economy Overview
Currently ranked as the 28th largest economy in the world, the UAE has annual exports of $242 billion and imports of $232 billion, resulting in a positive trade balance of $9.67 billion.
The GDP of the UAE is $414 billion. This equates to a GDP per capita of $43,005.
Top UAE Exports
Here is a breakdown of the most important products exported by the UAE, both commodities and other notable exports.
Commodity Exports
- Crude petroleum – $58.1 billion
- Refined petroleum – $32.3 billion
- Gold – $15.4 billion
- Diamonds – $10.2 billion
- Petroleum gas – $6.51 billion
If you’re interested in trading some of these commodities, you can jump to our list of recommended regulated brokers in at the end of the page.
Other Notable Exports
- Jewelry – $12.2 billion
- Broadcasting equipment – $9.99 billion
- Cars – $7.87 billion
- Raw aluminum – $6.18 billion
- Rolled tobacco – $3.71 billion
Top export destinations of the United Arab Emirates are India ($23.8 billion), Japan ($21.7 billion), China ($17.4 billion), Saudi Arabia ($17.2 billion), and Oman ($11.7 billion).
Top UAE Imports
Here is a breakdown of the most important products imported by the UAE, both commodities and other notable imports.
Commodity Imports
- Gold – $27.3 billion
- Refined petroleum – $12.8 billion
- Diamonds – $11.1 billion
- Crude petroleum – $3.48 billion
- Refined copper – $2.78 billion
Other Notable Imports
- Broadcasting Equipment – $15.5 billion
- Jewelry – $13.4 billion
- Cars – $11.3 billion
- Gas Turbines – $5.16 billion
- Computers – $4.02 billion.
Details on the UAE Imports/Exports
Gold
As the country’s leading export product, gold is a significant commodity for the UAE, representing 6.36% of its total exports.
The global export market for gold is worth $305 billion. The UAE is ranked as the 6th largest exporter in the world with a 5.04% share of the market, behind leaders Switzerland (20.9%) and the UK (8.46%).
Diamonds
Global diamond exports total $116 billion annually. The UAE is the 5th largest exporting country, with an 8.8% market share.
Almost half of the UAE’s diamonds are destined for India (49.3%), with Belgium-Luxembourg (21.1%) and Hong Kong (15.3%) the 2nd and 3rd biggest export partners.
Aluminum
The worldwide aluminum export market is worth $61.1 billion. The UAE is ranked as the 2nd largest exporter, with a 10.1% market share.
Aluminum exports have grown rapidly for the United Arab Emirates in recent years. Between 2017 and 2018, growth of 29% was recorded when exports increased from $4.79 billion to $6.18 billion.
Copper Wire
Copper wire exports represent 0.9% of the UAE’s total export value. The country also has a 10.5% share of a worldwide market that is worth $20.7 billion annually. This makes the United Arab Emirates the 2nd largest exporter of copper wire in the world after Germany.
Rolled Tobacco
The global export market for rolled tobacco is worth $27 billion each year. The UAE is the biggest exporter with a 13.8% share of the market, followed by Poland (12.7%) and Germany (11.3%).
Iraq and Iran are key destinations for the United Arab Emirates’s rolled tobacco exports, receiving almost 50% of its total exports of this commodity.
Interesting Facts About the UAE
- The Burj Khalifa is 818 meters high and has held the record as the tallest building in the world since 2008.
- The Dubai police’s fleet of cars includes a Bentley, Ferrari, and Lamborghini.
- Dubai has no postal address system, no zip codes, and no area codes. Senders have to include precise instructions on how to find the destination.
Interested in Trading Commodities?
Interested in trading gold, petroleum, aluminum, and other important commodities from the United Arab Emirates? Start your research with reviews of these regulated brokers available in .
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Sources and Further Reading
- All figures are based on OEC 2018 calculations and projections unless otherwise stated.
- Learn more about the state of world government debt from our country debt clock pages.
- See our global economic indicator guide to more than 45 other countries.
- Get our full guide to trading commodities.
Also see our guides on stock, CFD, and commodity brokers to find out which online trading platforms are available in .
All currency is reported in US dollars.
