UAE finance ministry: Economy should continue to boom
Investors in the United Arab Emirates (UAE) may be heartened to hear that the country's economic growth looks set to continue strongly through to the end of 2007, according to recent reports.
The country's finance ministry has revealed that the UAE's gross domestic product is expected to grow by 8.5% in 2007, continuing the relatively high increases observed in recent years.
Furthermore, the statistics also show that the trade surplus has continued to increase, reaching Dh206.1 billion (£28.5 billion), compared to a previous figure of Dh139.6 billion, the Gulf News provider has reported.
Foreign direct investment is also growing, with European firms accounting for more than a third of inward investment, while tourist numbers continue to expand with a number of high-profile property and commercial properties in construction.
Currently, the economy of the UAE is primarily driven by oil revenues - although in recent times the country has attempted to diversify into various services industries, helping to create the Arab world's most advanced economy, according to the World Economic Forum.
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