The United Arab Emirates (UAE) is a federation of seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al-Khaimah, Sharjah, and Umm Al-Quwain, which when combined, houses over 9.8 million people.
The UAE has maintained its top spot for a fourth year as the most competitive economy in the Middle East and North Africa, trading over AED 1,536,082 million in 2018 alone, further asserting its status as an emerging global power with an increasing say and influence in world affairs.
As the second largest Arab economy, the UAE ranked 25th globally out of 140 countries in the annual 2019 Global Competitiveness Report which measures performance across 12 key economic pillars. The Emirates scored a perfect 100 in macroeconomic stability, joining Singapore to become the most competitive country globally. The UAE also scored second in information and communications technology adoption and fourth in product market; an indicator that assesses domestic market competition and openness for trade.