Peculiarities of economical

development of the United Arab

Emirates

By Fyodorova Marina

group 288

Language supervisor –

Lect. M.Nedogibchenko

Plan

to give the complete estimation of economic development

to select weak and strong sides, designate operating organizations like large production processes

to expose internal and external problems and prospects of their permission

Development of economy characterizes the permanent acceleration of evolutional processes. These processes are characteristic for all spheres of human activity, including sphere of economy.

Studying the economy of the United Arab Emirates a picture lines up clear – modern position of country which for such short period was able to make the enormous tearing away out of transitional to the market economy.

OAE occupied one of leading places in a world economy due to a carefully thought out and effective trade and financial policy. It is an open economy, free trade and investing of profits from the export of oil in other not oil industries

GDP made 248,9 milliards of dollars in 2009,, that on 10% higher, than by a year before. Notably, that the stake of oil made only 30% GDP, while four years back this index exceeded 35% . As a result of large capital investments the last years the stake of trade and tourism, building, manufacturing industry, transport, electro energy and water-supply, agriculture and fishing grows in the structure of GDP.

Traditional employments of off-shore habitants were building of mini-ports, fishing and pearl-fishery.

Exactly due to the export of amazing pearls of Dubay purchased a fame as a trade center. By the end of 70th Dubay already was a large port on the coast of Bay. Due to trade, he attracted merchants from Iran, India and other countries.

Thank you for attention