Part 859

Diplomatic representation from the US: chief of mission: Ambassador David C. LITT embassy: Al-Sudan Street, Abu Dhabi mailing address: P. O. Box 4009, Abu Dhabi; American Embassy Abu Dhabi, Department of State, Washington, DC 20521-6010 (pouch); note - work week is Saturday through Wednesday telephone: (2) 436691, 436692 FAX: (2) 435441 consulate(s) general: Dubai

Flag description: three equal horizontal bands of green (top), white, and black with a thicker vertical red band on the hoist side

Economy

Economy - overview: The UAE has an open economy with one of the world's highest incomes per capita and with a sizable annual trade surplus. Its wealth is based on oil and gas output (about 33% of GDP), and the fortunes of the economy fluctuate with the prices of those commodities. Since 1973, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. At present levels of production, crude oil reserves should last for over 100 years. The UAE Government is encouraging increased privatization within the economy, and industrial development is expected to pick up in 1997.

GDP: purchasing power parity - $72.9 billion (1996 est.)

GDP - real growth rate: 1.4% (1996 est.)

GDP - per capita: purchasing power parity - $23,800 (1996 est.)

GDP - composition by sector: agriculture: 2% industry: 43% services : 55% (1994 est.)

Inflation rate - consumer price index: 5.2% (1996 est.)

Labor force: total: 794,400 (1993 est.) by occupation: industry and commerce 56%, services 38%, agriculture 6% (1990 est.) note: 75.73% of the population in the 15-64 age group is non-national (July 1997 est.)

Unemployment rate: NA%

Budget: revenues: $5.1 billion expenditures: $5.4 billion, including capital expenditures of $NA (1997 est.)

Industries: petroleum, fishing, petrochemicals, construction materials, some boat building, handicrafts, pearling

Industrial production growth rate: NA%

Electricity - capacity: 5.29 million kW (1994)

Electricity - production: 17.74 billion kWh (1994)

Electricity - consumption per capita: 5,724 kWh (1995 est.)

Agriculture - products: dates, vegetables, watermelons; poultry, eggs, dairy products; fish

Exports: total value: $31.3 billion (f.o.b., 1996 est.) commodities: crude oil 66%, natural gas, reexports, dried fish, dates partners: Japan 38%, India 6%, South Korea 6%, Singapore 5%, Iran 4%, Oman 4% (1995)

Imports: total value: $22.3 billion (c.i.f., 1996 est.) commodities: manufactured goods, machinery and transport equipment, food partners : Japan 9%, US 8%, UK 8%, Italy 7%, Germany 7%, South Korea 5% (1995)

Debt - external: $14 billion (1996 est.)

Economic aid: $NA

Currency: 1 Emirian dirham (Dh) = 100 fils

Exchange rates: Emirian dirhams (Dh) per US$1 - 3.6710 (fixed rate)

Fiscal year: calendar year

@United Arab Emirates:Communications

Telephones: 677,793 (1993 est.)

Telephone system: modern system consisting of microwave radio relay and coaxial cable; key centers are Abu Dhabi and Dubai domestic: microwave radio relay and coaxial cable international: satellite earth stations - 3 Intelsat (1 Atlantic Ocean and 2 Indian Ocean) and 1 Arabsat; submarine cables to Qatar, Bahrain, India, and Pakistan; tropospheric scatter to Bahrain; microwave radio relay to Saudi Arabia