The oil sector and related activities have historically formed the bulk of Abu Dhabi's econommic activity. While Abu Dhabi has a healthy overall trade surplus, economic diversification is a key pillar of the Economic Vision 2030 and the Emirate is setting ambitious targets for the performance of the non oil sector.
Abu Dhabi, the capital of the United Arab Emirates, is aglobal leader in energy. The emirate, one of the world's leading producers of oil and gas, is investing heavily to become a regional and international powerhouse in renewable and sustainable energy knowledge, technology and capacity.
Ranked as the richest city in the world, Abu Dhabi sits on one-tenth of the planet's oil and has almost $1 trillion invested abroad. Abu Dhabi houses federal government offices, is the seat of the United Arab Emirates Government. Its rapid development and urbanisation, coupled with relatively high average income of its population, has transformed Abu Dhabi to a larger and advanced metropolis. Today the city is the country's center of political and industrial activities, and a major cultural and commercial centre, due to its position as the capital. Abu Dhabi accounts for about two-thirds of the roughly $400 billion United Arab Emirates economy.