Oil Real GDP Growth in Constant Prices for United Arab Emirates
ARENGDPORPCHPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.73
Year-over-Year Change
109.84%
Date Range
1/1/2000 - 1/1/2025
Summary
This trend measures the real GDP growth rate of the oil sector in the United Arab Emirates, providing insights into the performance and contribution of the country's vital energy industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Oil Real GDP Growth in Constant Prices for United Arab Emirates tracks the year-over-year change in the real gross domestic product generated by the oil and gas sector in the UAE. It serves as a key indicator of the health and development of the UAE's energy-driven economy.
Methodology
The data is calculated by the International Monetary Fund based on official national accounts statistics.
Historical Context
This trend is closely monitored by policymakers, investors, and analysts to assess the UAE's economic diversification efforts and the impact of global energy market dynamics.
Key Facts
- The UAE is one of the world's largest oil producers.
- Oil and gas account for over 30% of the UAE's GDP.
- The UAE aims to diversify its economy beyond hydrocarbons.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real GDP growth rate of the oil and gas sector in the United Arab Emirates, providing insights into the performance of the country's vital energy industry.
Q: Why is this trend relevant for users or analysts?
A: The oil sector is a critical driver of the UAE's economy, and this trend is closely monitored by policymakers, investors, and analysts to assess the country's economic diversification efforts and the impact of global energy market dynamics.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund based on official national accounts statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers in the UAE and globally to gauge the performance and contribution of the country's energy sector, which is a key component of its economic strategy and development plans.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and statistical methodologies of the International Monetary Fund, which may result in occasional delays or revisions.
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Citation
U.S. Federal Reserve, Oil Real GDP Growth in Constant Prices for United Arab Emirates (ARENGDPORPCHPT), retrieved from FRED.