Author: Salah Salameh
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Time Lapse Video Awesome UAE Dubai & Abu Dhabi Edit by : Salah Salameh Music : N'to - Trauma (Worakls Remix) UAE has the second largest economy in the Arab world (after Saudi Arabia),[110] with a gross domestic product (GDP) of $377 billion (AED1.38 trillion) in 2012.[111] A third of the GDP is from oil revenues. The economy was expected to grow between 4–4.5% in 2013, compared to 2.3–3.5% over the past five years. Since independence in 1971, UAE's economy has grown by nearly 231 times to AED1.45 trillion in 2013.The non-oil trade has grown to AED1.2 trillion, a growth by around 28 times from 1981 to 2012.[110] The UAE has a relatively high Human Development Index among the Asian continent, ranking forty-first globally.[112] In 2011, UAE is ranked as the 14th best nation in the world for doing business based on its economy and regulatory environment, ranked by the Doing Business 2011 Report published by the World Bank Group[113] The GDP growth rate for 2010 was 3.20%.[114] CPI inflation in the April 2008 — April 2009 year was 1.9%.[115] The national debt as of June 2009 was $142 billion.[116] In 2009, its GDP, as measured by purchasing power parity, stood at US$ 400.4 billion.[1] With a population of just under 900,000 Abu Dhabi was labeled "The richest city in the world" by a CNN article.[117] Petroleum and natural gas exports play an important role in the economy, especially in Abu Dhabi. More than 85% of the UAE's economy was based on the exports of natural resources in 2009.[1][118] The UAE has tried to reduce its dependency on oil exports by diversifying the economy, particularly in the financial, tourism and construction sectors. While Abu Dhabi remained relatively conservative in its approach, Dubai, which has far smaller oil reserves, was bolder in its diversification policy.[10]