United Arab Emirates

United Arab Emirates – May 2021

The United Arab Emirates is the third largest economy in the Middle East, behind Saudi Arabia and Iran. The UAE has higher per capita incomes, business climate rank, and creditworthiness score compared to MENAP neighbours (Middle East, North Africa, Afghanistan and Pakistan), while growth lags. The UAE is a major hub for Australian firms looking to conduct business in the Middle East and North Africa. Most of the UAE is highly dependent on energy exports—petroleum and natural gas continue to play a central role in the economy.

This chart is a cobweb diagram showing how a country measures up on four important dimensions of economic performance—per capita income, annual GDP growth, business climate and creditworthiness. Per capita income is in current US dollars and is the five-year average between 2021 and 2025 as provided by the IMF. Annual GDP growth is the five-year average between 2021 and 2025. Business climate is measured by the World Bank’s latest Ease of Doing Business ranking of 190 countries. Creditworthiness attempts to measure a country's ability to honour its external debt obligations and is measured by its OECD country credit risk rating. The chart shows not only how a country performs on the four dimensions, but how it measures up against other regional countries.