Abu Dhabi - About Abu Dhabi
Making of UAE
The discovery of oil in the late 1950s and early 1960s reversed the whole economic formula in the Gulf region, as it marked the real start of its development. In 1962, as the Emirate began exporting oil, it was immediately obvious that a new vision of governance was required to address the new challenges and to optimise the use of oil revenues. The Al Nahyan family unanimously chose Sheikh Zayed as the new ruler of the emirate on August 6, 1966. He implemented major reforms such as modern education, healthcare, public housing, and general urban development.On December 2, 1971, Sheikh Zayed was elected the first President of the new state by Their Highnesses the Rulers of the Emirates, who are simultaneously members of the Federal Supreme Council (FSC). Every five years, the FSC renewed its confidence in Sheikh Zayed and re-elected him.Sheikh Zayed, convinced of the benefits of a federation between not only the seven emirates of the UAE but between all Gulf States, was a leading force in the foundation of the Gulf Cooperation Council (GCC). His vision was to bring together the Gulf countries which shared not only a similar economy but a history based on common tribal social structures. On these common grounds, Sheikh Zayed aimed and succeeded in establishing a formal regional and political entity. The charter of the Council was signed on May 24, 1981 in Abu Dhabi by the heads of its member states, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and, of course, the UAE.
Abu Dhabi Facts
Abu Dhabi is the federal capital of the United Arab Emirates and the largest of the seven emirates. The Emirate lies on the borders with the Kingdom of Saudi Arabia, the Sultanate of Oman and the Arabian Gulf. The emirate comprises 200 islands and has 700 kilometres coastline.
UNITED ARAB EMIRATES GDP The Gross Domestic Product (GDP) in the United Arab Emirates was worth 360 billion US dollars in 2011. The GDP value of the United Arab Emirates represents 0.58 percent of the world economy. GDP in the United Arab Emirates is reported by the The World Bank Group. From 1973 until 2011, the United Arab Emirates GDP averaged 94.4 USD Billion reaching an all time high of 360.0 USD Billion in December of 2011 and a record low of 2.9 USD Billion in December of 1973. The gross domestic product (GDP) measures of national income and output for a given country's economy.