Bank Annual Report Assignment - Economics - Essay Example

Running head: ANNUAL Bank Annual Report Assignment - Economics ___________ ________________________ ________________Bank Annual Report Assignment - Economics Contribution of the oil sector to the UAE economy in 2004 Annual Report of the Central Bank of United Arab Emirates for the year 2004 states that the total Gross Domestic Product (GDP) at base price and constant prices of 2000 was ASD 323.60 billions for the year 2004. Table (2-1) of the Annual Report shows that the oil and natural gas sector accounted for 28.

93 % at ASD 93.63 billions. Other mining activities accounted for ASD 0.79 billions forming 0.24% of the total GDP.Thus taking the contribution of mining industries to 29.2 %.The year 2004 GDP at current prices was reckoned at ASD 378.61 billions. Table (2-1) of the Annual Report further shows that the oil and natural gas sector accounted for 32.56 % at ASD 123.26 billions. Other mining activities accounted for ASD 0.83 billions forming 0.22% of the total GDP.Thus taking the contribution of mining industries to 32.

78 %( Annual 2004).Percentage contribution of Manufacturing and Construction Sectors to 2004 GDP Annual Report of the Central Bank of United Arab Emirates for the year 2004 has the data at Table (2-1) that Manufacturing and Construction Sectors contributed ASD 70.43 billions to 2004 GDP at constant prices of ASD 323.60 billions. In percentage terms this contribution came to 21.76 %( rounded off to 22%). Table(2-2) of the Annual report further shows that Manufacturing and Construction Sectors contributed ASD 78.

02 billions to 2004 GDP at current prices of ASD 378.61 billions. In percentage terms this contribution came to 20.61 %( Annual 2004).Percentage Comparison of the UAE workforce employed in the public (Government services) sector to that in Oil& Gas, and Manufacturing Table(2-8) ,captioned 'Employees by Economic Sectors' , of the Annual Report of the Central Bank of United Arab Emirates for the year 2004 has the data that UAE had a total of 2.46 million employees in UAE in 2004.Of this 0.

27 million were engaged in the Government Sector forming about 10.98% of the total employees. As against this Oil& Gas, and Manufacturing sectors deployed 0.35 million employees which formed about 14.23 % of the total employees (Annual, 2004).Thus more number of employees were deployed in Oil& Gas, and Manufacturing sectors when compared to the Government Sector.ReferencesAnnual Report of the Central Bank of United Arab Emirates,2004.