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 commix Arab Emirates is into the fossil oil colour and non-oil domains . While the aggregate fruit body unfree on oil production , the United Arab Emirates is guidance on the development of its non-oil area as part of its variegation image However , its major power to develop fully its non-oil sector depends on the performance of its oil sector . matchless consideration is the relational contribution of the oil and non-oil sectors to the economy . The early(a) 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 take out or 22 share of gross internal product .

However , rase if the contribution of crude oil production to aggregate output is less than a quarter , the impact of the sector on the economy is much bigger Oil exports contributed 37 percent of earnings in remote exchange and 60 percent of globe sector tax revenue . The oil sector contributes to the aggregate economy in quadruple fronts , which are telephone circuit investment household income and consumption , public spending , and moolah exports . This substantiates the claim that the oil sector comprises the spikelet of the UAE economy . bring forward growth occurred in the oil sector in 2006 with the Ministry of knowledge and Culture (2006 ) reporting that the oil and ordnance sector contribut ed 28 percent to aggregate output . at the ! same conviction there is also growth in the...If you want to train a full essay, order it on our website: OrderEssay.net

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