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 combine Arab Emirates is into the fossil inunct and non-oil sphere of influences . While the mix widening remains qualified on oil production , the unite Arab Emirates is focusing on the development of its non-oil vault of heaven as start up of its diversification object However , its baron to develop full its non-oil sector depends on the performance of its oil sector . integrity consideration is the comparative contribution of the oil and non-oil sectors to the economy . The opposite 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 keister or 22 share of gross domestic help pr oduct .

However , eve if the contribution of crude oil production to aggregate make is less than a quarter , the impact of the sector on the economy is much large Oil exports contributed 37 pct of earnings in exotic exchange and 60 portion of humanity sector receipts . The oil sector contributes to the aggregate economy in 4 fronts , which are business investing household income and consumption , public spending , and net exports . This substantiates the asseverate that the oil sector comprises the ground tackle of the UAE economy . that growth occurred in the oil sector in 2006 with the Ministry of randomness and Culture (2006 ) reporting that the oil and ! fuck up sector contributed 28 percent to aggregate output . simultaneously on that point is also growth in the...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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