The UAE economy is growing at a fast pace, its GDP has increased more than 236-fold from AED 6.5 billion in 1971 to AED 1,540 billion in 2014.
Currently, the UAE is implementing policies for a post-oil economy. The UAE plans to increase the contribution of the non-oil sector to 80 per cent of the nation's GDP in the next 10 to 15 years.
For this purpose, it has employed several strategies to promote its overall economic and social position and diversify its national income based on a sustainable and knowledge-based economy, away from the dependency on oil. Read about strategies and plans here.