- The UAE has a growing economy based primarily on oil and gas exports. Oil production accounts for around 30% of GDP.
- GDP has grown significantly in recent decades due to increased oil production and diversification efforts. However, GDP declined in 2020 due to the COVID-19 pandemic and lower oil prices.
- The government's fiscal policy focuses on developing the non-oil sector through infrastructure projects, economic zones, and public services to reduce reliance on oil revenues over time.
- Sovereign wealth funds invest oil revenues domestically and abroad to support continued economic growth beyond the oil sector.