The paper "Comparative Analysis: the UAE and Japan" is a great example of a Macro & Microeconomics coursework. The United Arab Emirates (UAE) anticipates a slow recovery of its economy following a slowdown in economic growth that emanated from declines in oil prices. However, the country witnessed a 6% growth in the real gross domestic product (GDP) over the last decades. The country also continues to experience deteriorating external and fiscal balances. Even though the UAE managed to attain a 4.6% growth in 2014, the growth rate declined to 3.4% in 2015.
The country continues to witness increasing micro-financial risks from the reduced revenue obtained from hydrocarbons (MENA 2015). Similarly, Japan’ s economy is on a gradual recovery phase. In the second quarter of the 2015 financial year, the economic growth of Japan stood at 3.9%. The country had witnessed a positive economic growth for the second consecutive quarter; an indicator that the country was recovering from its previous economic slump. Private consumption suffices to be the main contributor to the growth in Japan’ s GDP. Currently, the country has maintained a 1% growth in its real GDP in both the 2015 and 2016 financial years.
The report compares the economies of both countries over a 10-year period. Gross Domestic Product The United Arab Emirates (UAE) It is evident that the UAE is the most developed economy in the Arabian Gulf. The country recorded a 3.90% expansion in its real GDP. UAE’ s average GDP growth from 2000 to 2015 was 4.76%. The country witnessed a 9.80% GDP growth in 2006. This turned out to be the highest recorded GDP growth of the country. In 2009, the UAE recorded -5.20% growth in its real GDP (Trading Economics 2016).
This reflected the least ever growth in the country’ s real GDP. GDP Growth Rate The chart below shows real GDP growth rates from 2006 to 2015. Figure 1: UAE’ s real GDP Growth Rate from 2006 to 2015 It is evident that the UAE records high values of real GDP per capita. The economy presents a commodity-based economy. Natural gas and oil shipments account for 38% of the country’ s GDP and 40% of the country’ s total exports. From the figures, it is evident that the UAE’ s GDP depends primarily on natural gas and oil shipments.
Agnese, P. and Sala, H., 2008. Unemployment In Japan: A Look At The'lost Decade'. The Asia Pacific Journal of Economics & Business, 12(1), p.15.
Albuainain, R.M., 2004, February. Unemployment Rate in the United Arab Emirates: The Case of Abu Dhabi. Economic Research Forum.
BBC., 2016. Japanese unemployment rate hits two decade low. Available at: http://www.bbc.com/news/business-37218507
Economy Watch., 2016. Japan Investment (% of GDP) Statistics. Available at: http://www.economywatch.com/economic-statistics/Japan/Investment_Percentage_of_GDP/
Economy Watch., 2016. United Arab Emirates (The UAE) Investment (% of GDP) Statistics. Available at: http://www.economywatch.com/economic-statistics/United-Arab-Emirates/Investment_Percentage_of_GDP/
Ito, K. and Fukao, K., 2005. Foreign direct investment and trade in Japan: An empirical analysis based on the Establishment and Enterprise Census for 1996. Journal of the Japanese and International Economies, 19(3), pp.414-455.
Japan Macro Advisors., 2016. Concise and Insightful Analysis on the Japanese Economy. Available at: https://www.japanmacroadvisors.com/page/category/economic-indicators/labor-markets/unemployment-rate/
MENA., 2016. United Arab Emirates Economic Outlook-Spring 2016. MENA Economic Monitor Report.
Mina, W., 2014. United Arab Emirates FDI Outlook. The World Economy, 37(12), pp.1716-1730.
Sorrentino, C., 1984. Japan's low unemployment: an in-depth analysis. Monthly Lab. Rev., 107, p.18.
Trading Economics., 2016. Final consumption expenditure – etc. (% of GDP) in Japan. Available at: http://www.tradingeconomics.com/japan/final-consumption-expenditure-etc-percent-of-gdp-wb-data.html
Trading Economics., 2016. Final consumption expenditure-etc (% of GDP) in the United Arab Emirates. Available at: http://www.tradingeconomics.com/united-arab-emirates/final-consumption-expenditure-etc-percent-of-gdp-wb-data.html
Trading Economics., 2016. Japan GDP per capita. Available at: http://www.tradingeconomics.com/japan/gdp-per-capita
Trading Economics., 2016. United Arab Emirates GDP Growth Rate. Available at: http://www.tradingeconomics.com/united-arab-emirates/gdp-growth
Trading Economics., 2016. United Arab Emirates GDP per capita. Available at: http://www.tradingeconomics.com/united-arab-emirates/gdp-per-capita
Trading Economics., 2016. United Arab Emirates Unemployment Rate. Available at: http://www.tradingeconomics.com/united-arab-emirates/unemployment-rate
United Nations Development Program (UNDP)., 2012. The Rise of the South: Human Progress in a Diverse World-United Arab Emirates. Human Development Report.
United Nations Development Program (UNDP)., 2015. Work for Human Development: Japan. Human Development Report.
United Nations Development Program (UNDP)., 2016. Human Development Indicators. http://hdr.undp.org/en/countries/profiles/JPN
United Nations Development Program (UNDP)., 2016. Human Development Indicators. Available at: http://hdr.undp.org/en/countries/profiles/ARE
Vancouver Community College Learning Centre (VCCLC)., 2013. Macroeconomics: GDP, GDP Deflator, CPI and Inflation. Economics.
World Bank., 2016. Exports of goods and services (% of GDP). Available at: http://data.worldbank.org/indicator/NE.EXP.GNFS.ZS?end=2014&locations=AE&start=2001&view=chart