United Arab Emirates Government Polices To Encourage Economic Diversification From The Oil Base

Oil and Non-Oil Economy of the UAEThe general dichotomization of the economy of the desegregate Arab Emirates is into the fossil oil colour and non-oil domains . While the aggregate sidetrack form unfree on oil production , the United Arab Emirates is focal point on the development of its non-oil vault of heaven as part of its variegation image However , its major power to develop richly its non-oil sector depends on the performance of its oil sector . unitary consideration is the relational contribution of the oil and non-oil sectors to the economy . The another(prenominal) consideration is the ability to the oil-sector to support the diversification plan in the non-oil sector . abed and Hellyer (2001 explained that in 1998 the production of crude oil accounted for less than a take out or 22 partage of gross inter nal product .

However , make up if the contribution of crude oil production to aggregate output is less than a quarter , the impact of the sector on the economy is much bigger Oil exports contributed 37 percent of earnings in remote exchange and 60 percent of globe sector tax revenue . The oil sector contributes to the aggregate economy in quadruple fronts , which are cable investment household income and consumption , public spending , and can exports . This substantiates the claim that the oil sector comprises the spikelet of the UAE economy . only growth occurred in the oil sector in 2006 with the Ministry of study and Culture (2006 ) reporting that the oil and ordnance sector contributed 28 percent to aggregate output ! . at the same succession there is also growth in the...If you want to moderate a full essay, order it on our website: OrderEssay.net

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