United Arab Emirates
General presentation
Official name: State of the United Arab Emirates Nature of system: Federation of emirates. Each emirate is governed by an emir, power is hereditary.
Area: 82,880 km2
Capital: Abu Dhabi (federal capital)
Emirates: Abu Dhabi, Dubai, Sharjah, Umm al Quwain, Ajman,
Ras el Khaimah, Fujairah
Main cities: Dubai (3.3 million), Abu Dhabi (3.2 million), Sharjah
(1.5 million)
Official language: Arabic
National holiday: December 2
Population: 9.8 million in 2020 (of which 11.5% are nationals)
Density: 83.6 inhabitants/km2
Population growth rate: 1.4% (2019)
Literacy rate: 93)
Source: Ministry of Europe and Foreign Affairs
Economic situation
Economic activity in the United Arab Emirates strengthened in 2018, due to the recovery in hydrocarbon prices and the launch of several stimulus plans. It is expected to benefit in the coming years from significant hydrocarbon investments, major projects related to the Dubai 2020 World Expo, and measures improving the business environment.
The United Arab Emirates has managed to reduce the economy’s dependence on hydrocarbons thanks to the development of a services platform since the early 1980s, notably in Dubai (tourism, port and airport activities). Re-exports of goods represent 35% of total exports. The share of hydrocarbons in GDP has, since 2015, been below 30% of GDP. GDP growth firmed to 2.9 percent in 2018, after bottoming out at 0.8 percent in 2017. This recovery was largely driven by the recovery of “hydrocarbon” GDP, which grew by 2.9 percent in 2018, following a 3 percent contraction in 2017.
A more sustained recovery is expected in the coming years, 3.6% in 2020). The Emirates are expected to benefit from a dynamic fiscal policy .public investments related to the organization of the Expo 2020 in Dubai, which could welcome millions of additional visitors between October 2020 and April 2021). In addition, the adoption of measures to improve the business environment (possibility for non-Emiris to hold 100% of a company’s capital in certain sectors, easing of visa requirements, reduction of fees and charges) could stimulate foreign investors.
Source: DG Treasury
Bilateral Relations
Bilateral investment treaties
Work in process
Double taxation agreements
Work in process
Free trade agreements
Work in process
Leading sector for Swiss companies
– Agricultural products
– Transport equipment
– Chemicals, perfume and cosmetics
Indicators
2016 | 2017 E | 2018 E | 2019 E | |
---|---|---|---|---|
GDP (in billions of USD) | 357.05 | 382.58 | 432.61 | 455.59 |
GDP per capita (USD) | 36.226 | 37.733 | 41.476 | 42.889 |
Growth rate | 3 | 0.8 | 2.9 | 3.7 |
Unemployment rate | 1.64 | 1.716 | ||
Inflation rate | 1.6 | 2.0 | 3.5 | 1.9 |
Public debt (% of GDP) | 20.217 | 19.747 | 17.810 | 17.564 |
Budget balance (% of GDP) | -3.5 | -2.2 | ||
Current account balance (% of GDP) | 2.4 | 2.1 |
(Sources FMI, Banque Mondiale)
Main customers
India (3.8%), Iran (3%), Switzerland (2.5%), Iraq (1.8%), Oman (1.7%).
Source: IMF
Main suppliers
China (8.3%), USA (7.6%), India (6.9%), Germany (4.6%), Japan (3.6%).
Source : IMF
Swiss exports to
Work in process
Exports of …. to Switzerland
Work in process
Swiss direct investment in
Work in process
The business climate
Work in process