The report of the United Nations Conference on Trade and Development (UNCTAD) revealed that the UAE is able to increase the value added in its final production sectors, which helped avoid any recession or any economic instability, unlike most countries that rely on energy as a commodity in the basic economy, which added value in their final activities was low or unreal, making them vulnerable to international economic volatility.
According to an UNCTAD report entitled "Read on the UNCTAD Report: State of Commodity Dependence 2019", the UAE has adopted development plans and strategies to diversify its economy and reduce its dependence on specific commodities, increasing its share of exports by increasing value added in the refining sectors, with a revolution in its ability to manufacture value-added products and derivatives.
The report showed that the UAE has engaged its potential and energy resources to develop the energy-intensive aluminum sector to lead the energy-dependent countries in the production of aluminum followed by Bahrain and Saudi Arabia, noting that the UAE has managed to achieve a jump in its production of oil derivatives to reach 900 thousand barrels in 2017 Compared to 200 thousand barrels in 1998.
Source (Al-Ittihad newspaper – UAE, Edited)
