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Maritime Industry | UAE
Surrounded by the Arabian Gulf, the UAE has strong ties with the water and a rich maritime history. Prior to the discovery of oil in the Gulf, Dubai’s economy was integrally linked with the sea. The importance of trading by sea is fundamental to the economy of the Emirates today, and it has been a fundamental part of the economy of the UAE for many years.
Marine leisure industry
Ports throughout the UAE were home to fishing and pearling fleets and active boat yards where highly skilled craftsmen forged the traditional ‘dhow’. While container shipping and other industrial maritime segments have traditionally driven economic expansion, in recent years Dubai has also become a major player in the yacht and leisure craft segment, and the boat building industry has grown rapidly. The number of yachts in Dubai has doubled since 2009, and the number of boats manufactured locally has also risen steadily.
Offshore Oil & Gas
The UAE possesses nearly 10 per cent of the world’s total oil reserves and the world’s sixth-largest natural gas reserves. Abu Dhabi dominates the UAE’s oil and gas sector, accounting for 94% of its oil.