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Insurance Companies Logos in UAE
Insurance Companies Logos in UAE. A logo is immediately recognizable as a synonym for the brand and allows the customer to associate the company with the useful qualities such as trust, fair price, and many other key questions about finding the best insurance.
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Economy In United Arab Emirates
The economy of the United Arab Emirates is the second largest in the Arab world (after Saudi Arabia), with a gross domestic product (GDP) of $570 billion (AED2.1 trillion) in 2014. The United Arab Emirates has been successfully diversifying its economy.
Although UNITED ARAB EMIRATES has the most diversified economy in the GCC, the UAE’s economy remains extremely reliant on oil. 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 UNITED ARAB 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.
Dubai suffered from a significant economic crisis in 2007-2010 and was bailed out by Abu Dhabi’s oil wealth. Dubai’s current prosperity has been attributed to Abu Dhabi’s petrodollars. Dubai is currently in extreme debt. Tourism is one of the main sources of revenue in the UAE, with some of the world’s most luxurious hotels being based in the UAE.
Although the UAE is now less dependent on natural resources as a source of revenue, petroleum and natural gas exports still play an important role in the economy, especially in Abu Dhabi. 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.
External Trade
With imports totaling $273.5 billion in 2012, UAE passed Saudi Arabia as the largest consumer market in the region. Exports totaled $314 billion, which makes UAE the second largest exporter in the region.
UAE and India are each other’s main trading partners, with the latter having many of its citizens working and living in the former. The trade totals over $75 billion (AED275.25 billion).
The report, GCC Trade and Investment Flows, found that China and India in particular have the greatest potential to drive the region’s economic profile. China especially is touted as a “game-changer”: GCC-China trade grew faster than with any other significant trade partner in the three years to 2013, according to the study by the Economist Intelligence Unit (EIU). Asia as a whole accounted for 67 per cent of GCC exports and 40 per cent of imports in 2013.
The UAE is the main trading partner of Africa within the GCC, with approximately 80% of the UAE’s imports from Africa being primary products, such as food produce and beverages. In Q3 2014, Dubai’s total non-oil trade with Africa reached a value of AED89 billion, according to Dubai Customs. Vision (Magazine) stated that total non-oil trade between Dubai and Africa has grown by over 700% over the last decade.
The UAE also has significant economic ties with the USA, UK and other European countries.
From Wikipedia
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