United Arab Emirates economy

United Arab Emirates economy - UAE economic indicators, GDP, 2024/2025 outlook | AGBI
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May 13, 2026
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Economy
United Arab Emirates economy
The latest economic indicators and demographic trends for the United Arab Emirates, including the UAE's GDP, inflation, oil prices, trade, population, expats, unemployment and more
February 16, 2026, 5:49 PM
Getty Images via Unsplash
UAE economic indicators at a glance
Financial services, tourism, trade and real estate are among the most important industries in the UAE’s non-oil economy , which is growing much faster than its hydrocarbon sector. This is helping to diversify the economy and reduce the country’s reliance on hydrocarbon revenues.
The UAE’s rising population – especially when it comes to expatriates – underpins the country’s long-term outlook for annual GDP growth .
UAE G DP
The charts below provide an overview of the UAE economy, including indicators such as nominal GDP, GDP per capita and annual GDP growth. These show the size of the UAE’s economy and the pace of economic expansion.
UAE nominal GDP
UAE G DP per capita
GDP per capita dipped sharply in 2020 before recovering, although it has yet to sustainably surpass its 2022 peak of nearly $50,000. The IMF forecasts steady growth to 2028, when output is projected to reach just over $59,000 — though with the population rising rapidly, strong headline growth will be needed just to keep pace.
UAE GDP growth
The UAE’s economy contracted by nearly 9 percent in 2020 before rebounding strongly to about 8 percent growth in 2021-22. The IMF forecasts a gentle oscillation through to 2028. It did not issue updated projections for oil and non-oil GDP in April 2026, as the Iran war continues to roil Middle Eastern economies.
UAE inflation
The UAE experienced mild deflation in 2019 and 2020 before a brief spike of 4.8 percent in 2022, in line with the global trend after the Covid pandemic. The consumer price index has since settled, with inflation forecast to stabilise at 2 percent up to 2028.
UAE debt & current account balance
The UAE’s public finances remain in robust shape, with the current account balance more than doubling between 2019 and 2024. Gross debt, at about 35 percent of GDP, is modest by international standards and is forecast to dip below 30 percent by 2028. The current account surplus is expected to narrow from its 2024 peak, but remain positive throughout the forecast period.
UAE trade
After the Covid years, UAE import and export volumes hit peaks above 18 percent in 2023. Growth moderated sharply in 2024 before a forecast cliff-edge this year, as the Iran war takes its toll on international trade . A rebound is projected for 2027, with imports and exports forecast to grow at close to 18 percent.
Over the longer term, the growth of imports and exports reflects the UAE’s rising population and buoyant economy. Much of its goods exports are re-exports.
The UAE’s top 10 trade partners
China dominates UAE imports at $84 billion, more than twice the value of goods arriving from second-placed India. On the export side, the picture is more evenly spread, with India, Iraq and Saudi Arabia all receiving around $33 billion.
The UAE’s top exports include oil and mineral fuels, plus re-exported goods such as precious stones, metals and electronic equipment. This is reflected in its top imports featuring many of the same categories.
UAE foreign direct investment
Foreign direct investment into the investor-friendly UAE has soared since 2018. Annual outward investment is more varied, hovering between $15 billion and $25 billion.
UAE credit rating s
The three major ratings agencies – Fitch, Moody’s and S&P Global – all give Abu Dhabi high investment-grade ratings with stable outlooks.
In June 2025, S&P Global joined Moody’s and Fitch in assigning a separate rating for the UAE overall. These high ratings reflect the country’s creditworthiness and economic stability.
UAE governance
Within the GCC , the UAE has the highest ranking on the Corruption Perceptions Index and currently is also above the US. The higher the score, the lower the corruption levels in a country, according to business executives and other experts.
UAE population
The UAE’s population increased by nearly 2.5 million between 2015 and 2024, driven by a steady influx of additional foreign workers. This is reflected in a male-to-female ratio of roughly 7:4. The share of under-14s has edged down slightly, which also suggests most of the growth is coming from working-age arrivals.
UAE life expectancy
UAE life expectancy remained steady from 2015 to 2019, then declined sharply during the Covid pandemic. It is now above pre-pandemic levels and above the 80-year average for high-income countries.
Expats in the UAE
UAE expats’ country of origin
Expats constitute about three-quarters of the UAE’s population, reflecting the private sector’s reliance on foreign workers particularly in industries such as construction, healthcare and services.
About a third of expat residents are from India. The large majority of UAE expats live in Dubai and Abu Dhabi.
UAE employment
The UAE’s labour market weathered the pandemic well, with unemployment peaking at 4.3 percent in 2020 before returning to 2.2 percent by 2023. Youth unemployment tells a similar story, spiking at 13.5 percent then falling to about 6.5 percent. Female workforce participation is rising gradually, from 49 percent in 2016 to 53 percent in 2025.
Education in the UAE
The UAE’s Pisa scores are significantly below the OECD averages across all three subjects, highlighting the need for additional investment in education and further improvements in teaching methods.
The 2022 results for the UAE and the 80 other countries that take part in the tests show the impact of Covid lockdowns on students.
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The charts and tables on this page are for general information purposes only. AGBI aims to keep the information up-to-date and correct, but makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information. Any reliance you place on such information is therefore strictly at your own risk. All  IMF ,  World Bank  and  United Nations  data on this page is publicly available. The latest IMF World Economic Outlook was published on October 14, 2025
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