Growth at all costs – a calculated gambit?

BB2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in January 2024.

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GDP USD507.5bn (World ranking 29, World Bank 2022)
Population 9.4mn (World ranking 96, World Bank 2022)
Form of state Constitutional Monarchy
Head of state Mohammed bin Zayed Al-Nahyan
Next elections 2027, legislative
  • Political and social stability reinforced through the appointment of the nation’s third president in May 2022 and the nomination of his eldest son as crown prince in April 2023
  • Exceptional endowment, thanks to an abundance of hydrocarbons that has allowed for continued current account surpluses and the build-up of large net foreign assets that can be used to absorb significant shocks
  • First-class financial and logistical hub
  • An absolute monarchy formed relatively recently and led by the emir of Abu Dhabi as the principal oil producer, which could fall apart if leadership is compromised
  • Regional instability may weigh heavily on import costs and the overall attractiveness of the UAE vis-à-vis regional peers
  • The anticipated decline in oil revenues may push the government to raise taxes, reducing the UAE’s competitive advantage over other countries in the region

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
India 13.9%
1
17.8% China
China 10.6%
2
9.0% India
Japan 10.4%
3
6.5% United States
Iraq 8.4%
4
4.1% Saudi Arabia
Saudi Arabia 4.2%
5
3.5% Japan

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Petroleum, petroleum products and related materials 42.2%
1
13.1% Gold, non-monetary (excluding gold ores and concentrates)
Gold, non-monetary (excluding gold ores and concentrates) 18.7%
2
9.4% Petroleum, petroleum products and related materials
Gas, natural and manufactured 6.1%
3
9.0% Telecommunication and sound recording apparatus
Non metallic mineral manufactures, n.e.s. 5.1%
4
6.3% Road vehicles
Telecommunication and sound recording apparatus 4.5%
5
5.9% Miscellaneous manufactured articles, n.e.s.
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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