UAE has the second largest economy in the Arab world (after Saudi Arabia), with a gross domestic product (GDP) of $377 billion (AED1.38 trillion) in 2012.
Around a third of the GDP is from crude oil based revenues. Since independence in 1971, UAE's economy has grown by nearly 231 times to AED1.45 trillion in 2013. The non-oil trade has grown to AED1.2 trillion, a growth by around 28 times from 1981 to 2012.With a population of just under 900,000 Abu Dhabi was labeled "The richest city in the world".
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