Comparative Analysis of the Economies of Germany and the United Arab Emirates

Topics: Unemployment, United Arab Emirates, Gross domestic product Pages: 20 (2999 words) Published: December 5, 2014
University of Wollongong in Dubai
Faculty of Business
TBS 905 – Economic Analysis of Business
Instructor: Dr Asima Shirazi

The Economies of Germany and the United Arab Emirates: A Comparative Analysis Submitted by: Albert Ndaya AGHARIH (4681447)
Date: 3rd December 2014

Abstract
Economic stability and growth is the primary goal of every business and government in all countries in the world. In this write up, we shall examine some of the economic indicators over a ten year period (2003 to 2012) that affects the economies of the United Arab Emirates (UAE) and Germany. We shall analyze how world development indicators impact their respective economies as well as the private business establishments that operate in them. The Gross Domestic Product (GDP), which is the backbone for economic analysis for each country shall be analyzed and compared to see which of the two is more viable economically. These findings will end with a conclusion on the way forward to each country to gain and maintain economic stability to guarantee growth.

TABLE OF CONTENT

1. INTRODUCTION ------------------------------------------------------------------------------ 3 2. . A Comparative Analysis of the Germany and UAE Economies --------- 4 2.1 GROSS DOMESTIC PRODUCT (GDP) ----------------------------------------- 4 2.2 GOVERNMENT EXPENDITURE ------------------------------------------------- 5 2.3 INFLATION, GDP DEFLATOR (ANNUAL %) ---------------------------------- 6 2.4 EXPORT OF GOODS AND SERVICES ------------------------------------------ 7 2.5 IMPORT OF GOODS AND SERVICES --------------------------------------------- 8 2.6 UNEMPLOYMENT ----------------------------------------------------------------------- 9 2.7 LABOUR FORCE ------------------------------------------------------------------ 10 3. BUSINESS ENVIRONMENT -------------------------------------------------------------------- 11 4. CONCLUSION ---------------------------------------------------------------------------------- 11 5. REFERENCES ------------------------------------------------------------------------------------- 12 6. APPENDICES --------------------------------------------------------------------------------------- 13

1. Introduction
The United Arab Emirates (UAE) has the second largest economy in the Arab world. It was formed in December 1971 when the Emirates of Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, and Umm Al Quwain came together as a federation. However, Ras Al Khaimah join this federation a year later, in 1972. The UAE is a member of the Gulf Cooperation Council (GCC) - a group of oil rich nations in the Middle East, OPEC and World Trade Organization (WTO). According to the World Factbook, the UAE Gross Domestic (GDP) is ranked 50th in comparison to the world and its per capita GDP is on par with those of leading West European nations. The UAE is one of the least corrupt countries in the Middle East. UAE is rich in huge oil reserves which is the main driving for its flourishing economy. However, the capital, Abu Dhabi accounts for about 90% of the oil production. Oil and gas exports roughly constitute 80% of the government revenues but from 2010 when Burj Khalifa in Dubai and Ferrari World in Abu Dhabi amongst other tourist attractions are increasingly shifting a good proportion of government revenues to other sources. The expatriate community constitutes about 80% of the population. The UAE seeks a diversified economy by creating many free trade zones that allows 100% foreign ownership with no taxation. . Germany is the most populous nation in Western Europe and a key member of the European Union (EU) and the Euro zone as it has the most stable economy. The World...

References: Farnham, P. G., (2014) Economics for Managers, 2nd edition, London: Pearson.
Heritage (2013) German Economy: Facts, Population, GDP, Inflation, Unemployment, Business,
National Bureau of Statistics (2014) [Online] Available from: http://www.uaestatistics.gov.ae/ [Accessed: 24th November 2014].
http://www.tradingeconomics.com/germany/gdp-growth-annual. Accessed on 29th November 2014
The World Bank (2014) [Online] Available from: http://data.worldbank.org/ [Accessed: 20th November 2014]
The World Bank (2014) [Online]. Available from
http://databank.worldbank.org/data/views/variableSelection/selectvariables.aspx?source=world-development-indicators#s_g
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • United States Economy Analysis Essay
  • Germany: An Analysis Essay
  • Essay about Cybercrime in United Arab Emirates
  • Inflation and United States Economy Essay
  • Essay on United Arab Emirates and Entrance Fee
  • Australia Vs. United Arab Emirates Research Paper
  • Essay on Job Satisfaction in the United Arab Emirates
  • United Kingdom Economy Essay

Become a StudyMode Member

Sign Up - It's Free