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Emirates Towers

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Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Emirates Towers
Address:
Sheikh Zayed Rd, Dubai, United Arab Emirates

The economy of the United Arab Emirates is the second largest in the Arab world , with a gross domestic product of $403.2 billion in 2014. The Emirates have been successfully diversifying its economy.Although the UAE has the most diversified economy in the GCC, its economy remains extremely reliant on petroleum . With the exception of Dubai, most of the UAE is dependent on oil revenues. Petroleum and natural gas continue to play a central role in the economy, especially in Abu Dhabi. More than 85% of the UAE's economy was based on the oil exports in 2009. While Abu Dhabi and other UAE emirates have remained relatively conservative in their approach to diversification, Dubai, which has far smaller oil reserves, was bolder in its diversification policy. In 2011, oil exports accounted for 77% of the UAE's state budget.Tourism is one of the bigger non-oil sources of revenue in the UAE, with some of the world's most luxurious hotels being based in the UAE. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy. Nationwide, there is currently $350 billion worth of active construction projects.The UAE is a member of the World Trade Organization and OPEC.
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