1. Economic Diversification in the Non-Oil Sector
Its strategic location ranges from southern approaches to Strait of Hormuz, the transit point for world's crude oil. ... UAE's economic condition before and after the discovery of the oil has changed a lot. ... The wealthiest and the largest of the emirate, Abu Dhabi, is the principal type of petroleum producer and is considered as the financier of this alliance. ... Considering the strength of UAE real GDP growth to 5.2 percent in 2013, driven by the expansion in non-oil sector, strong momentum existed in 2014, as the real GDP growth forecasted at 4.3 percent according to the latest...
- Word Count: 1135
- Approx Pages: 5
- Grade Level: Undergraduate