Economics of the UAE Research Paper Example | Topics and Well Written Essays - 3000 words

Economics of the UAE - Research Paper Example accord to the estimation made in July2012, the total population of the nation stood at 5,314,317. The majority of the population be to the UAE has been viewed to be the Muslims, apart from other religious groupings such as Hindus and Sikhs. The currency of the country has been recognized to be Emirati Dirham and Arabic is regarded as its official language. Apart from Arabic language, the other languages that prevail in the UAE allow English, Urdu, Persian and Hindi. Most importantly, the country emphasizes upon educating both men on with women and is making considerable investments in this special(prenominal) sector. The UAE government is a federal one that is structured with specified legal powers (The Cultural Division of the Embassy of the unify Arab Emirates, UAE Facts in Brief).The UAE possess an open sort of economy bearing a high per capita income along with a large yearly trade surplus. The country has undergone a deep transf ormation from the region of desiccate desert to a modern state since the detection of oil in the country. With this detection, the living standards of people of the UAE had raised by a significant level. It has been viewed that the government of the UAE has enlarged its spending in two significant arenas that overwhelm infrastructure development and job creation with the intention of enhancing the economy of the country at large. The various vital factors such as the worldwide financial crisis, deflated prices of the assets and the tight international credit contributed in contract the economy of the UAE in the year 2009. The different industries that prevail in the UAE which comprise petrochemicals, transport, real estate, pharmaceuticals, cement, aluminum and ceramics among others good affect the economy of the country by a greater extent. With regard to assess the economic check off of the UAE, it has been observed