Economic Factors Affecting The Economic Activity Of The Uae

998 WordsApr 30, 20164 Pages
Next we should discuss some of the similarities and contrasts between the two countries. the most important contrast between these countries that is related to the study objective, UAE statistical SMEs report, shows that the dominate SMEs sector is the trade sector (60%) such as retail sector, consumer goods trading or garments trading. the second sector is services (35%) such as contracting industry and tourist-focused services. the Sector that is ripe for development in the UAE, is manufacturing (5%), such as auto parts or IT components. On the other hand, SMEs GDP contributions in Canada were highest from agriculture, then health, and then education. Where mining, information, and manufacturing are less contributions to the GDP. However, the concentration in the economic activity in UAE are in sectors with limited productivity growth, such as tourism, retail trade, and construction. In addition, exports are concentrated in gold and jewelry as well as tourism and transportation services. While in Canada the concentration in the economic activity in sectors with higher productivity growth such as agriculture. Another major contrast, is that Canada has a liberal developed economy with an emphasis on market based resource allocation. In contrast, UAE as an economy, the development has just taken place and have short history in job quality with limited rules, rights and labor standards. This may have arisen due to oil revenue, a base of few institutions and a basic economy.

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