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United Arab Emirates

Capital Abu Dhabi
Area Sq Km 82,820
Area Sq Miles 31,976
Population 8.19 million
Languages Arabic, English
Religions Shi’a Muslim, Sunni Muslim
Currency Dirham
National Day 2nd December

United Arab Emirates

Economy Overview
Oil and gas are the Emirates' main industries, and underpin the country's considerable prosperity. Although average annual revenues have declined in line with low prevailing world oil prices, the Emirates have had sufficient funds to invest in major industrial and infrastructural projects. Outside the oil and gas sector, which includes refining and the production of oil-derived chemicals, most economic activity is government-sponsored, and designed to diversify the economy and reduce dependence on oil. This strategy has been reasonably successful and the oil sector's contribution to GDP is now down to about 50 per cent. Chemicals, aluminium, and steel production are the most important of the new industries. Other newly-established industries produce consumer goods for the domestic market. There is some agriculture in what is an unfavourable climate, mostly livestock-rearing; fishing is also significant. It should be noted, however, that most of the country's economic development has been concentrated in the two richest and most powerful of the seven Emirates, Abu Dhabi and Dubai; the remainder are relatively underdeveloped. UAE is a member of OPEC, and of the Gulf Co-operation Council which is increasingly concerning itself with regional economic collaboration. Imports into the UAE are dominated by the Japanese (the main buyer of the Emirates' oil and gas), followed by the USA, the UK, Germany and South Korea.
Government
The highest federal authority is the Supreme Council of Rulers comprising the absolute rulers of the seven emirates. Decisions reached by the Council must have the agreement of at least five members including Abu Dhabi and Dubai, the two largest members. The Council appoints a President to act as head of state. There are no political parties

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