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Background The Trucial States of the Persian Gulf coast granted the UK control of their defense and foreign affairs in 19th century treaties. In 1971, six of these states - Abu Zaby, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn - merged to form the United Arab Emirates (UAE). They were joined in 1972 by Ra's al Khaymah. The UAE's per capita GDP is on par with those of leading West European nations. Its generosity with oil revenues and its moderate foreign policy stance have allowed the UAE to play a vital role in the affairs of the region. For more than three decades, oil and global finance drove the UAE's economy, however, in 2008-09, the confluence of falling oil prices, collapsing real estate prices, and the international banking crisis hit the UAE especially hard. Population 4,975,593 Government type 7 emirates (imarat, singular - imarah); Abu Zaby (Abu Dhabi), 'Ajman, Al Fujayrah, Ash Shariqah (Sharjah), Dubayy (Dubai), Ra's al Khaymah, Umm al Qaywayn (Quwayn) Administrative divisions federation with specified powers delegated to the UAE federal government and other powers reserved to member emirates Independence Independence Day, 2 December (1971) International organization participation three equal horizontal bands of green (top), white, and black with a wider vertical red band on the hoist side; the flag incorporates all four Pan-Arab colors, which in this case represent fertility (green), neutrality (white), petroleum resources (black), and unity (red); red was the traditional color incorporated into all flags of the emirates before their unification Economy - overview Market value of publicly traded shares petroleum and petrochemicals; fishing, aluminum, cement, fertilizers, commercial ship repair, construction materials, some boat building, handicrafts, textiles Agriculture - products -5.6% (2009 est.) Industries 71.54 billion kWh (2007 est.) Industrial production growth rate 65.98 billion kWh (2007 est.) Electricity - production 0 kWh (2008 est.) Internet country code 2.922 million (2008) WebCam