this post was submitted on 03 Jun 2025
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Oil makes up 30% of UAE’s GDP and an even smaller percentage of Dubai’s: only 1% according to this Wikipedia article. Dubai is one of seven emirates that make up the UAE. Dubai has existed prior to the discovery of oil as a fishing and trade port, and has been rich before due to pearl diving. It was a major source of pearls before the Japanese invented cultured pearls.
Yeah, I don't think pearls or trade is making Dubai that rich anyhow any more. Especially after the Suez and like you said "cultured pearls.”
Trade makes up 26% of it's GDP. That's the largest contributor.
Trade in what, that makes no sense... Oil and gas exports make up 85% of its economy