ECONOMY OF UAE AND JAPAN

Economy of UAE and Japan

[Name of the Institute]

Economy of UAE and Japan

Introduction

The economy of countries consists of an economic system, which includes the production, distribution, consumption and trade of goods and products in the country. The economy of the country is affected by several factors, and the economy is developed with the technological changes and evolution mainly. The economy of countries differs on the basis of different aspects, and in order to analyze the economic aspects of any country it is necessary to evaluate all the factors associated with it. There are different views and perspectives related to the economy of the country, and this helps in evaluating the economic conditions. There are different economists who have analyzed the economic conditions of the countries, and have also helped in recommending the necessary changes.

This report will focus on the economy of UAE and Japan, and will compare it so as to analyze the similarities and differences between the economies. Both Japan and UAE are growing economies and have shown progress in the past years. In order to evaluate the economy, it is necessary to look at the different aspects which contribute to the economy and affect it positively and negatively. UAE is generally known as the Emirates, which is an Arab country which has shown continuous growth and development in the past decades. Japan is considered as having the third largest economy in the world. UAE and Japan are different in may ways, and they contribute differently to the world's economy.

There are different variables which need to be studied for the purpose of analyzing the economic condition of the country. These variables include inflation, employment, income and many more. These variables differ from country to country and help in differentiating between the economic conditions of the different countries. The government of the countries needs to take necessary actions and decisions which can help in the betterment of economic conditions.

Economy of UAE

The economy of UAE has changed dramatically in the past decades, and is considered as the most diversified economy. The location of the country is strategically enjoyable, as it provides the country with several opportunities of growth and development. In the Middle East, UAE is considered as one of the most developing countries which are growing continuously. The growth and development of UAE is recommendable, and it is expected that in the coming years the economy and the country will grow and expand greatly. Today, UAE is undergoing several changes in terms of economy, which helps in attracting high foreign direct investment. Firstly the country was highly dependent on its oil revenues for the growth of economy, but the government and industries did not restrict themselves and expanded into different sectors. The oil revenues account to around 37% of the nominal gross domestic product of UAE as recorded in 2010. Since 1995, the country is focusing on its infrastructure which is now being considered as amazing, and has helped the economy by attracting several ...