United Arab Emirates economy and international economic relations: current state and prospects

Abstract

In the article, various aspects of the economic development of the United Arab Emirates (UAE) in 2010s are examined. Particular attention is paid to Abu Dhabi and Dubai, which are the largest of the seven constituent emirates of the federation. The author focuses on analyzing the impact of
deteriorating global energy market conditions on the macroeconomic and financial situation of the Emirates. Besides, the features of economic diversification and the specifics of digitalization of the UAE economy are considered. Special emphasis is given to the prospects for expanding trade, economic and investment cooperation between Russia and the United Arab Emiratesthat has intensified significantly in recent years.