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International trade and economy of United Arab Emirates

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  • Post Date 2018-11-07T10:48:24+00:00
  • Post Category Essays

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International trade and economy of United Arab Emirates

International trade and economy of United Arab Emirates

INSTRUCTIONS:
Dear Writer, Hi. Kindly Search & conclude the effect of international trade on UAE Economy taking into consideration the "analysis of the two periods a)before Recession b) after Recession" Guidelines: a)Collect the required statistics related to the above two periods (include graphs). b)Collect the statistics of GDP for the above two periods c)Find out the effect of international trade on macroEconomics trends with regards to those areas: a)GDP b)per capital income c)Aggregate demand d)aggregate supply e)corporate profit g)unemployment Thank you
CONTENT:
International trade and economy of United Arab EmiratesName:Institution:Date: International trade is vital as it builds trade relations and can lead to economic growth or improvement in terms of trade. For United Arab Emirates, international trade has been an important part of the nation before and after the discovery of oil. Historically, the main form of trading in the UAE has been pearl trading. Furthermore, international trade has expanded in the country following the merger of seven states in 1971 that now fall under the UAE, both Dubai and Abu Dhabi play significant roles in the country both politically and economically. In the economic development of UAE, the role of natural resources has been prominent especially oil and gas (Abed, 2001). Before the recession of 2008/2009, the UAE had undergone tremendous growth based on revenues from the petroleum industry. In essence, since the emergence of the country the reliance on oil revenue has allowed the country to participate in the global economy through the sale of oil to her trading partners and importation has also increased over the years. In addition, increased oil revenue has helped the country to build infrastructure as well as diversify from being oil dependent. According to the World Bank (2013) the current GDP in US$ of the UAE has increased th...

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