uae economy
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Title: uae economy

Essay Details:

Subject: Book Reports
Author: Samantha C
Date: March 16, 2015
Level: University
Grade: A
Length: 6 / 1771

Essay text:

In terms of real GDP, early estimates from MOE indicate that the UAE economy grew by 7.4% in 2007 to reach AED420.2bn. Oil prices continued to surge in 2007 with average oil prices increasing to US$69.1/b from US$63.5/b recorded in 2006. However, there were production cuts from OPEC and heavy maintenance work at the end of the year because of which oil production had come down in 2007. As a result of the above, the total value contribution in absolute terms from this sector is expected to have increased marginally by 9.4% to reach AED244.3bn in 2007 over AED223.4bn recorded in 2006. However, non-oil sector recorded a higher growth and as such the share of crude petroleum and natural gas in GDP came down to 35...

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