United Arab Emirates' Currency
By Michael Cordes
Summarization of the Overveiw
The economy in the UAE is an open economy with a high per capita income and outcome. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. A crisis hit Dubai the hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares.
The GDP (PPP) in the UAE is $269.8 billion (2013 est.)
GDP- per capita
The GDP per capita in the UAE is $29,900 (2013 est.)
% below poverty level
The % below the poverty level in the UAE is 19.5%.
What is Import and Export?
Import is when your country brings goods and supplies into a country for sell. When you export something, your country is sending goods and supplies to other countries for sale. It is important to all countries because the UAE needs cotton for clothes and another country has cotton but needs fruits which the UAE has. Then they trade and then another country needs some fruit and cotton so then those two countries help them and they get something from them. This helps everyone get the supplies they need.
What is Wrong When the Price of Imports is Greater Than the price of the Exports?
It is wrong because Imports should be the same or less than exports because the exports, are being worked on but imports is when you just buy it or trade something for it without doing much work at all.