1. Historically UAE has trade links with most of the countries along the silk route. It has natural advantage of being positioned as a hub for international trade between Asia and Europe on an east-west axis and the CIS and Africa on north-south axis due to its strategic geographical location. Around the 6th century, when Islam was emerging as major religion and establishing Arab culture in the world, Arab merchants sailed long distances all around the sea routes in traditional wooden dhows trading spices along the Silk Route. At that time the major trading route emerged from China and ran through to the Mediterranean Sea. As early as 3000 BC, the UAE was rich in natural resources and traded copper with countries such as Persia and Mesopotamia. The discovery of oil in 1962 became a landmark in its economic history and the country has emerged as an important player in the world economy by exporting oil to the world economies. The country was importing food, technology, medicines and other vital products required for their growth and development. The table below provides the data on various factors which affect demand in the country for the products mentioned. You are required to forecast the demand for each of the products mentioned in the table taking the variable that impact the demand. Predict the demand for the cocoa, coffee and meat products for the years 2019, 21 and 22 given the population, Gross per capita income, Gross domestic product, inflation rate and the time period in years. After forecasting suggest which of the variable are significant for each of the products Coco, coffee and meat products. 5 marks Table 1: UAE economy and trade 2007 to 2017 GPI Years Population GDP in millions Billion $ Inflatio n rate Meat products Value in $ 736020 1084212 1162341 1269872 1358791 2007 6.05 2008 6.89 2009 7.67 2010 8.27 2011 8.67 2012 8.9 2013 9.03 2014 9.3 2015 9.58 2016 9.86 2017 10.14 2018 10.43 2019 10.75 2020 11.08 2021 11.42 2022 11.77 257.92 315.47 253.55 289.79 350.67 374.59 390.11 03.14 358.14 357.04 374.41 395.0 409.75 438.21 459.32 468.22 Coco products Coffee value in $ products Value in $ 183,429 475,224 228,458 659,549 245,328 702,665 285,557 785,321 312,265 843,285 386,669 966,425 441,248 1069004 545,746 1158764 499,369 969987 516,862 855049 559,939 734497 40,400 11.1 41,040 12.3 36,140 1.6 36,160 0.9 40,310 0.9 43,920 0.7 45,070 1.1 43,360 2.3 40,000 4.6 39,320 1.6 38,750 2.0 39,250 0.66 41,000 1.1 41,700 2.35 42,325 4.07 43,000 1.62 1498701 1604824 4089 1663314 1626971 1705968 1. Historically UAE has trade links with most of the countries along the silk route. It has natural advantage of being positioned as a hub for international trade between Asia and Europe on an east-west axis and the CIS and Africa on north-south axis due to its strategic geographical location. Around the 6th century, when Islam was emerging as major religion and establishing Arab culture in the world, Arab merchants sailed long distances all around the sea routes in traditional wooden dhows trading spices along the Silk Route. At that time the major trading route emerged from China and ran through to the Mediterranean Sea. As early as 3000 BC, the UAE was rich in natural resources and traded copper with countries such as Persia and Mesopotamia. The discovery of oil in 1962 became a landmark in its economic history and the country has emerged as an important player in the world economy by exporting oil to the world economies. The country was importing food, technology, medicines and other vital products required for their growth and development. The table below provides the data on various factors which affect demand in the country for the products mentioned. You are required to forecast the demand for each of the products mentioned in the table taking the variable that impact the demand. Predict the demand for the cocoa, coffee and meat products for the years 2019, 21 and 22 given the population, Gross per capita income, Gross domestic product, inflation rate and the time period in years. After forecasting suggest which of the variable are significant for each of the products Coco, coffee and meat products. 5 marks Table 1: UAE economy and trade 2007 to 2017 GPI Years Population GDP in millions Billion $ Inflatio n rate Meat products Value in $ 736020 1084212 1162341 1269872 1358791 2007 6.05 2008 6.89 2009 7.67 2010 8.27 2011 8.67 2012 8.9 2013 9.03 2014 9.3 2015 9.58 2016 9.86 2017 10.14 2018 10.43 2019 10.75 2020 11.08 2021 11.42 2022 11.77 257.92 315.47 253.55 289.79 350.67 374.59 390.11 03.14 358.14 357.04 374.41 395.0 409.75 438.21 459.32 468.22 Coco products Coffee value in $ products Value in $ 183,429 475,224 228,458 659,549 245,328 702,665 285,557 785,321 312,265 843,285 386,669 966,425 441,248 1069004 545,746 1158764 499,369 969987 516,862 855049 559,939 734497 40,400 11.1 41,040 12.3 36,140 1.6 36,160 0.9 40,310 0.9 43,920 0.7 45,070 1.1 43,360 2.3 40,000 4.6 39,320 1.6 38,750 2.0 39,250 0.66 41,000 1.1 41,700 2.35 42,325 4.07 43,000 1.62 1498701 1604824 4089 1663314 1626971 1705968