Higher Education Process List

UAE and Global Trade: Impact of global trade on UAE’S economy.

9g1-American by: Jawaher Alkhoori, Alia Humaid, Salama Alneyadi Baina Alameri

UAE's Economy

The UAE's economy is the 3rd largest in the Middle East after Turkey and Saudi Arabia.

with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023.

While oil remains a vital pillar of the country’s economy, the UAE has been recording impressive growth in its non-oil sector like: Real estate , tourism , some of heavy industries such as Aluminum.

Importance of trade in a countries economic development:

International trade between different countries is an important factor in raising living standards, providing employment and enabling consumers to enjoy a greater variety of goods.

2. Top trading partners in the UAE

The UAE and China have created various initiatives to further strengthen their trade relationship. In addition to the free trade agreement, the two countries created the China-UAE Industrial Capacity Cooperation Demonstration Zone in 2017. The zone focuses on a number of sectors, including energy, finance, infrastructure, and manufacturing. The zone also provides Chinese companies with access to the UAE’s markets.

1. China2. India 3. USA 4. Japan

The economic ties between the UAE and India date back to the early 1990s, when the UAE began to invest in India’s oil and gas sector. Since then, bilateral trade between the two countries has grown rapidly. Indiais the second largest UAE trading partner in the Middle East, and India is the UAE’s second largest trading partner in Asia.

The UAE exports a variety of goods such as diamonds, oil and gas, electronics, and machinery to the USA. The USA exports a variety of goods such as aircraft, motor vehicles, chemicals, and machinery to the UAE.

The UAE-Japan trade partnership is a mutually beneficial one, with both countries enjoying the benefits of increased trade and investment. The UAE has become an increasingly attractive destination for Japanese firms, while Japan has become an important part of the UAE trading partner.

Exporting in UAE

UAE has various goods to export such as: 1. Crude petroleum 2. Gold 3. Refined Petroleum 4. Boardcasting equipment 5. Dimonds 6. Pearls and other precious metals and stones. Most of UAE"s exporting goes to India China Saudi Arabia japan and iraq.

Importing in UAE

UAE imports various goods from different countries such as: 1. Food due to the challenge of food production in heat climate 2. Transportation equipment 3. electronic equipment 4. Medical and Technical equipment 5. fruits and nuts

International trade and it's effects on the UAE

The UAE is known to be very rich with oil and precious stones and metals that they trade with other countries for goods or money.

by selling those goods the UAE gets a good amount of cash thats gets spend on the countries living standards.

Positive and negative things about international trade

Negative : countries that are dependent on crops trade might suffer complete loss due to weather change

Positive : Trading with other countries improves the relationships of nations

Challenges that may occer in UAE future trade

The UAE depends on oil trade so a problem might happen in the future if the uae gets replaced by another country that may sell petroleum way cheaper then the UAE but we can over come this problem in two ways 1. lower the prices of petroleum 2. depand on selling other goods.

Opportunities in the future of the UAE

As the UAE continues growing in the trading industry in the future we may need more working hands so there will be a lot of job opportunities .

tysmmm!!

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