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The United Arab Emirates is a federation of seven Emirates located in the Arabian Peninsula. The UAE has an open economy and one of the highest per capita incomes in the world. The economy is largely supported by petroleum and natural gas exports and cpr144449003101 there has been a massive construction boom in recent years. This growing construction sector is expected to help diversify the nation's economy further, as the exportation of aluminum, steel and iron is expected to surpass the country's petroleum exports within the next 40-60 years.