Industry & Trade

Industry and Trade in the UAE
What are the traditional UAE industries, and how have they changed
overtime?
The main traditional industries in the United Arab Emirates were trading, agriculture, pearl diving, and fishing. Until oil
was found, the UAE's main source of fortune was pearl diving. A significant portion of the labour force were employed by
the pearl diving business, that performed a vital role in the UAE's economy and contributed to the nation's cultural
identity. However the Great Depression and the development of cultured pearls, which reduced consumer demand for
natural pearls, caused the business to collapse in the 1930s.
In the United Arab Emirates, producing dates, fruits, and vegetables was a popular habit, providing agriculture a crucial
business. Another significant source of revenue was fishing, as the nation's coastline regions supplied an abundance of
seafood.
Another important industry was trade, with the United Arab Emirates acting as a key conduit for trade between
the East and the West.
But the 1950s witnessed the discovey of oil, which significantly changed the UAE's economy. As the main engine
of the nation's economy, the oil and gas sector grew to dominate national attention. Since then, the UAE's
economy has been dominated by the oil and gas sector, which also propels the nation's economic growth whilst
contributing a major contribution to its GDP.
What are the key industries driving the modern economy in the
UAE?
Currently, a variety of important industries, like the oil and gas sector, real estate, tourism, banking, and logistics, are
contributing to the UAE's economy. The UAE's economy still heavily depends on the oil and gas sector, which also provides a
sizable amount of the nation's GDP and government revenue. The UAE's property market draws investors from all over the
world, and the real estate sector plays a major role in the nation's economy.
Another important sector is tourism, with millions of tourists arriving to the UAE every year. Travellers from all over the world
choose to visit the nation because of its warm climate, modern facilities, and diverse heritage.
The UAE is one of the biggest financial centres in the region, and the finance sector provides
substantially to the country's economy. The UAE's advantageous position makes it a major hub
for transport and logistics services, making the logistics industry a significant business.
What efforts are there to promote sustainable practices
in UAE industries, and what challenges do they face?
The UAE has worked actively to encourage environmentally friendly business

practices across its sectors. The nation has launched numerous programmes to
support sustainable practices and renewable energy in a range of industries, and it
has set aggressive goals for lowering its carbon emissions. The United Arab
Emirates (UAE) has initiated various measures to foster sustainable tourism, such
as the establishment of environmentally conscious hotels and the advocacy of
sustainable practices within the hospitality sector.
However, encouraging sustainable practices throughout its industries presents a

number of difficulties for the UAE. Due to the nation's heavy reliance on fossil fuels
for its energy needs and its quick economic expansion, there are serious
environmental problems and carbon emissions.
What are the emerging trends in UAE industries, and how do they impact the future economy?
A variety of new developments are currently being observed by the UAE's sectors,
such as the expansion of the digital economy, the creation of smart cities, and
increasing utilisation of renewable energy. The UAE has made major investments in
the expansion of its digital infrastructure and the promotion of e-commerce, which is
projected to fuel the growth of the digital economy and accelerate the nation's
economic growth.
The UAE is investing in the development of smart cities, which use technology to
enhance the quality of life for its residents. This is anticipated to be another
significant trend. A significant trend that is anticipated is the growing use of
renewable energy, as the UAE sets high goals for both boosting and lowering its
carbon emissions
How can the UAE make its industries better for the
environment and people?
Through the promotion of sustainable practices, the reduction of carbon emissions,

and the advancement of renewable energy, the UAE may improve the environmental
and social impact of its sectors. The nation might also make investments to support
sustainable tourism and the growth of eco-friendly enterprises. Additionally, the UAE
may encourage its sectors and inhabitants to learn about environmental challenges
and the value of sustainable practices.
Which sustainable development goal(s) does your topic
link to and why?
Several sustainable development goals (SDGs), such as SDG 7 (Affordable and

Clean Energy), SDG 9 (Industry, Innovation and Infrastructure), SDG 11
(Sustainable Cities and Communities), SDG 12 (Responsible Consumption and
Production), and SDG 13 (Climate Action), are related to the subject of UAE
industries and their impact on the environment and people. While the development
of smart cities and the promotion of sustainable tourism are connected to SDG 11,
the UAE's efforts to promote renewable energy and sustainable practices in its
industries are linked to SDG 7. SDGs 12 and 13 are related to the UAE's attempts to
encourage sustainable behaviours and lower carbon emissions, while SDG 9 is
related to the nation's emphasis on innovation and infrastructure development.
Sources
• 1. "Pearl Diving in the UAE" - Abu Dhabi Culture (<
https://abudhabiculture.ae/en/discover/traditions/pearl-diving>)
• 2. "UAE Economy" - The National News (<https://www.thenationalnews.com/uae/economy/>)
• 3. "Year of the 50th: UAE's journey to prosperity" - Gulf News (<
https://gulfnews.com/uae/year-of-the-50th/>)
• 4. "UAE's Sheikh Hamdan approves Dubai Silk Road strategy" - The National News (<
https://www.thenationalnews.com/uae/sheikh-hamdan-approves-dubai-silk-road-strategy>)
• 5. "UAE on a Silk Road to trade success" - The National News (<
https://www.thenationalnews.com/business/economy/2023/09/27/uae-economy-to-expand-4-in-20
24-on-non-oil-sector-growth-sp-says/>)
• 6. "Sustainable Development Goals" - United Nations (<
https://www.un.org/sustainabledevelopment/sustainable-development-goals/>)

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Industry & Trade

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Industry and Trade in the UAE

The UAE has worked actively to encourage environmentally friendly business

However, encouraging sustainable practices throughout its industries presents a

Through the promotion of sustainable practices, the reduction of carbon emissions,

Several sustainable development goals (SDGs), such as SDG 7 (Affordable and

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