Gulf News reported that the UAE Government attaches special attention to the activity of electricity, water, gas

and waste management, as a supporting activity for all other economic activities. This activity witnessed remarkable development following the issuance of the law No. 2 in March 1998, by which Abu Dhabi Water & Electricity Authority was founded to replace the former Abu Dhabi Water & Electricity Department. This was accompanied by the opening of free investment for the national private sector and foreign investors alike, which contributed to raising the level of competitiveness among companies to provide the best offers and services in the field of electricity and water. The government established the Centre of Waste Management Abu Dhabi in December 2008 under the umbrella of the Environment Agency Abu Dhabi, to act as the competent authority for monitoring and coordinating the activities of waste management across the emirate and overseeing the implementation of the governments ambitious strategy in this regard. The generation of electricity in the Emirate of Abu Dhabi grew at an annual rate of 10.4% on average over the last three years, reaching 46.4 thousand in 2011.The rate of production of desalinated water Abu Dhabi: The UAE Government attaches special attention to the activity of electricity, water, gas and waste management, as a supporting activity for all other economic activities. This activity witnessed remarkable development following the issuance of the law No. 2 in March 1998, by which Abu Dhabi Water & Electricity Authority was founded to replace the former Abu Dhabi Water & Electricity Department.This was accompanied by the opening of free investment for the national private sector and foreign investors alike, which contributed to raising the level of competitiveness among companies to provide the best offers and services in the field of electricity and water. The government established the Centre of Waste Management-Abu Dhabi, in December 2008 under the umbrella of the Environment Agency Abu Dhabi (EAD), to act as the competent authority for monitoring and coordinating the activities of waste management across the emirate, and overseeing the implementation of the governments ambitious strategy in this regard. The generation of electricity in the Emirate of Abu Dhabi grew at an annual rate of 10.4 per cent on average over the last three years, reaching 46.4 thousand (GW/h) in 2011.The rate of production of desalinated water increased to 219.8 billion gallons in 2011, rising at an average annual rate of 17.3 per cent during the period (2008 2011). The continuing rise in the rates of generation and production of electricity and water is compatible with the need to meet the increasing consumption, due to urbanisation and industrial expansion, where electricity consumption rose to 43.3 thousand (GW/h) in 2011, and the consumption of desalinated water was 211.5 billion gallons in 2011. The contribution of the electricity, gas, water and waste management activity to the total GDP of the Emirate of Abu Dhabi, amounted to about 2 per cent in 2011.
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Value added

The value added to the activity of electricity, gas, water and waste management activities, recorded a remarkable increase during the period (2006 - 2011), from Dh10.42 billion in 2006 to Dh16.13 billion in 2011, at an annual rate of 9.14 per cent on average during the period, while the growth rate of the value added to the activity stood at 10.5 per cent in 2011, compared to 2010. Total fixed capital formation The total fixed capital formation in electricity, gas, water and waste management activity increased from Dh6.6 billion in 2006 to Dh20.9 billion in 2011, at an annual rate of 25.6 per cent on average during the period (2006-2011), while the growth rate of capital formation in the activity reached 14.5 per cent in 2011, compared to 2010. No doubt that the steady growth demonstrates and justifies the interest paid to the activity of electricity, gas and water, and waste management activities on the part of investors in various government, public and private sectors; taking into consideration the feasibility of investing in this activity, which witnesses rapid development over time.

Construction and building

The construction and building activity is of particular importance, as one of the activities most linked to the national economy, as it implements projects required by other activities, in addition to carrying out the maintenance work for these projects. The activity includes a number of subactivities, according to the International Standard Industrial Classification of economic activities, such as site preparation, construction of complete facilities or parts thereof; and installation and finishing of buildings. The construction and building activity is mainly influenced by the demand resulting from population growth and direct investment. The activity contribution to GDP rose from 6.8 per cent in 2006 to more than 10 per cent in 2011, as a result of the construction boom witnessed by the emirate during the last five years, as several construction projects were completed, to meet the needs of population increase, and the growth of various economic activities. In 2011, the number of building permits for all purposes rose to 13559 licenses, increasing by 17.5 per cent compared to 2010.

Value added

The value added to the construction and building activity witnessed remarkable development during the last five years, as a result of the economic development and prosperity experienced by the Emirate of Abu Dhabi during that period, as the value added to the activity increased significantly from Dh36.9 billion in 2006 to Dh81 billion in 2011, at a rate annual growth rate of 17 per cent on average during the period (2006-2011).Total fixed capital formation

Many investment projects were carried out during the past five years, resulting in the increase of the total fixed capital formation in the activity of the construction of Dh2,805 million in 2006 to Dh4,862 million years 2011, recording an increase of Dh2,057 million, and a growth rate of 11.6 per cent on average during that period.

Print Email a friend 11/07/2012 Statistics Centre - Abu Dhabi (SCAD) has released the preliminary figures that highlight the key economic development trends in Abu Dhabi over the last year. These are the first detailed figures confirming that the Emirates economy has categorically overcome the repercussions of the global financial crises, posting significant growth across all oil and non-oil activities and sectors. The GDP growth at current prices during 2011 surpassed all previous forecasts and estimates made by local and international agencies. According to SCADs preliminary data, Abu Dhabi GDP at current prices grew by 29.9 per cent from AED 620 billion in 2010 to AED 806 billion in 2011, exceeding all earlier forecasts and estimates in this regard. These results demonstrate that the Emirates economy has bounced to levels seen before the global financial crisis, giving it a huge competitive advantage and boosting its appeal to local and foreign investors. Overcoming Repercussions of Financial Crisis According to SCAD, this robust growth presents unequivocal proof that the Emirate of Abu Dhabi has fully recovered from the impacts of the global economic crisis, with data indicating record gains of AED 186 billion during the year 2011, as the GDP grew to AED 806.031 billion at current prices, up from AED 620.316 billion in 2010. Supported by its remarkable resilience, huge financial surpluses, strong growth in non-oil sectors and activities, high oil prices, along with several other factors, the economy of the Emirate was fast to overcome the consequences of the global financial crisis, regain stability and, interestingly, achieve some benefits from it. For instance, inflation retreated to only 1.9 per cent during 2011. In addition, the crisis gave impetus to non-oil activities, which achieved strong growth rate of approximately 7 per cent during 2011. Diversification of Economy A thorough review of the economy of the Emirate of Abu Dhabi will confirm that it has made huge strides and achieved a high level of development and diversity in a short span

of time, making continuous gains under a wise management that learned from past experience in its endeavour to ta e best advantage of available opportunities. This is reflected in the fast-paced economic progress the Emirate has experienced over the past years, in the course of which many major projects were undertaken, translating a practical vision and an insightful outlook on the future. This impressive growth enhanced the attractiveness of the national economy to investors worldwide and established the Emirate as a hub for concluding major business deals. In recent years, Abu Dhabi economy has advanced in leaps and bounds towards the establishment of a solid infrastructure, founded on economic diversity and comprehensive development. It has become the most dynamic economy in the region and the third largest economy in the Arab world. Breaking through from an economy depending almost entirely on public spending, which is directly affected by fluctuating oil revenues, to a diversified economy that has evolved into a regional financial, commercial and tourist centre. Despite the importance of oil to the economy of Abu Dhabi, the Emirate pursues an ambitious strategy that seeks to expand and diversify the economy in order to fortify it against volatile oil prices. This is evident from the figures announced by SCAD, where oil accounted for only 58.5 per cent of the GDP of the Abu Dhabi in 2011, despite the considerable rise in oil prices during the same year. This confirms that the Emirates plans to expand the economic base and diversify the sources of income are progressing successfully. On the other hand, the figures released show that non-oil activities and sectors contributed 41.5 per cent of the Emirates GDP in 2011, achieving a relatively high growth rate of 7 per cent during the same year. A glance at historical trends shows that the relative share of the various non-oil activities and sectors in the GDP at current prices has doubled 3.4 times from AED 99.264 billion in 2001 to AED 334.256 billion in 2011, making such activities a major contributor to the Emirates economy. These developments demonstrate that the Emirates programmes to expand the economic base and diversify the sources of income are progressing successfully with non-oil sectors emerging as key components of the GDP. In parallel with this, the private sector has achieved impressive growth and gained numerous competitive advantages in the fields of production and exports, enabling it to play a more effective future role in addressing imminent economic uncertainties, both regionally and internationally. Particular attention is paid to empowering the private sector in the economic diversification process by creating the right investment climate to strengthen the role of the private sector in the economic development process. Positive Growth Across All Activities and Sectors The preliminary data on the GDP of the Emirate of Abu Dhabi over the past year indicate that all the activities and economic sectors achieved positive growth rates at varying degrees in 2011, most notably the mining and quarrying activity, which grew by 53.2 per cent, fuelled by the sharp rise in oil prices in world markets. The transport, storage and communications also recorded a high growth rate (22.4 per cent), while manufacturing grew by 21.5 per cent, financial and insurance sectors by 13.6 per cent, real estate and business services by 11 per cent, electricity, gas and water and education sectors by 10.5

per cent each. Furthermore, non-oil sectors and activities achieved positive growth rates, ranging from 1 per cent for agriculture, livestock and fisheries to 9.6 per cent in health and social services. Price Stability During the past three years, prices in the Emirate of Abu Dhabi have been remarkably stable. The highest annual inflation rate during this period never exceeded 3.1 per cent. The Emirate's inflation rate had hit an all-time high of 14.9 per cent in 2008, but bounced to the lowest level ever (0.8 per cent) in the following year, responding to a set of direct measures taken by the Government of Abu Dhabi to stabilise prices. In 2011, the inflation rate was 1.9 percent. Interestingly, easing inflationary pressures that is seen as one of the favourable outcomes of the global financial crisis. Preliminary Data SCAD stressed the need to treat the 2010 and 2011 data released as preliminary data, adding that more accurate estimate will be made in Q4 of the current year, following the analysis of the results of the economic surveys presently in progress, given the significance of these results in assessing the performance of the economy. SCAD further remarked that the preliminary 2011 GDP data released attest to the robust and stable standing of Abu Dhabi economy, enhancing prospects for sustained economic growth and stability. Abu Dhabi: The private sector made up nearly a third of Abu Dhabis overall gross domestic product of Dh691 billion last year, according to Mohammad Thani Murshed Al Rumaithi, chairman of the Abu Dhabi Chamber of Commerce and Industry. The sectors contribution to GDP was estimated at around Dh218 billion in 2011 and is forecast to reach Dh232 billion this year, Al Rumaithi told delegates at the annual Abu Dhabi conference organised by MEED in the capital. It is expected that the sector would grow by about 6.4 per cent this year while the nonoil public sector is projected to expand by 5.5 per cent. The non-oil public sector stood at about Dh126 billion but could grow to Dh133 billion this year, he added. By Himendra Mohan Kumar, Staff Reporter Contribution of extractive industries to Abu Dhabis GDP amounted to 5% 1 January 2013 The Value added to the activity of the extractive industry achieved a remarkable increase, from Dh 291.5 billion in 2006 to Dh 471.8 billion in 2011 at an annual growth rate of 10.1% on average during the period 2006-2011, while the growth rate of the value added to the activity reached 53% in 2011. This dramatic rise was attributed mainly to the increase in oil prices and oil production,according to Chapter IV of Productive Activities of Abu Dhabi Economic Report 2011 issued by the emirates Department of Economic Development. Extractive Industries: The extractive industry is the backbone of the economy of the Emirate of Abu Dhabi, and one of the most important components of the national income of the emirate, where oil revenues are used in construction of infrastructure projects, as well as other giant national industries. The contribution of extractive industry to the GDP of the Emirate of Abu

Dhabi reached 58.5% in 2011, as a result of high oil prices in world markets, and the increase in production of oil in Abu Dhabi. OPEC average oil price rose from $77.45 per barrel in 2010 to $107.46 per barrel in 2011. Total Fixed Capital Formation: The total fixed capital formation in the extractive industry activity rose from Dh 7.8 billion in 2006 to AED 48.8 billion in 2011 at an annual growth rate of 44% on average during the period, while fixed capital formation in the activity grew by 11.6% in 2011. Manufacturing Industries: The manufacturing industries activity is one of the vital economic sectors in the Emirate of Abu Dhabi. Abu Dhabi Vision 2030 focuses on the activity as an engine for diversifying the economic structure of the emirate, by investing in industries in which Abu Dhabi has more competitive advantage. This embodies the development of innovation and technology-based industries that are supportive of a shift towards a knowledge-based economy. The contribution of the extractive industries to Abu Dhabis GDP amounted to 5% in 2011. Value added: The value added to the manufacturing industry during the last five years increased significantly to reach Dh 32.9 billion in 2006, and continued to rise to Dh 40.5 billion in 2011, increasing at an annual growth rate of 4.2% on average during the period 20062011. The growth rate of the value added to the activity hiked to 22% in 2011, due to the great attention given by the Government of Abu Dhabi to this activity, and the efforts exerted to develop the activity according to best international practices. Total Fixed Capital Formation: The total fixed capital formation in the manufacturing activity rose from Dh 9.6 billion in 2006 to Dh 34.4 billion in 2011, growing at an annual rate of 29% on average during the period 2006-2011,. This was attributed to the investment boom witnessed by the activity during that period, when many giant industries were established, most importantly the EMAL, aluminum smelter complex and Strata aero structures manufacturing plant. Agriculture, Forestry and Fishing: The agriculture, forestry and fishing activity receives particular attention and great support from the government of Abu Dhabi, which seeks to raise levels of selfsufficiency, and achieve food security in the emirate. This concern prompted launching development and marketing plans, guidance and awareness programs, introduction of modern agricultural techniques for conservation of water resources, in addition to guiding farmers to adopt high productivity, non-water depleting species and varieties of agricultural crops, which suit the emirates prevailing climatic conditions. Abu Dhabi government had developed and initiated programs to improve and raise farmers incomes, introduce high quality mar etable agricultural products and enhance competitiveness of local products. It always hosts international events and encourages participation in such activities. Efforts continue to set comprehensive infrastructure, and maintain sustainable development in the agriculture sector. On the other hand, efforts are being made to realize Abu Dhabi government vision to develop a sustainable livestock sector. Important programs in this regard include supporting feed through the establishment of stores in feed distribution centers, and provision of feed at nominal prices, which will all contribute to maintaining the vitality of the livestock sector. Mentoring programs aimed at raising awareness and culture among

livestock owners, were initiated to introduce modern methods in management of farms, and disease fighting. Many programs were meant to develop the sector, including genetic improvement of animals and artificial insemination, with the aim of breeding high yielding local strains to help achieve rewarding economic returns. Abu Dhabi Government seeks protection and conservation of fisheries, by achieving balance between fishing practices; and ensuring sustainability and health of fish stocks, in order to promote economic development. Support is rendered to fishermen by providing needs, addressing difficulties and obstacles facing them, facilitating necessary funding for buying and renovating boat, and granting of interest-free loans. The protection of fisheries is carried out through several controls to fisheries management in the emirate, including the setting of I certain periods and specific seasons to catch some kinds of fish, and and banning fishing during fish reproduction periods, in addition to raising consumer awareness of extinction threatened fish species, with aim to reduce demand for them, and protect such species from overfishing. The Contribution of agriculture, forestry and fishing to Abu Dhabis GDP stood at 0.6% in 2011. The value added to agriculture, forestry and fishing increased slightly during the period (2006-2011), rising from Dh 4.4 billion to Dh 4.8 billion, up by 1.9% on average during that period. Despite fluctuations in the rate of growth of the activitys value-added from year to year during the period referred to; however, the total value added, remained relatively stable, since the activity did not achieve significant positive growth rates, and did not experience significant slow down during the same period. The growth rate of value added to agriculture, forestry and fishing, reached 0.9% in 2011, which was less than the average annual growth rate during the period (2006-2011). Total fixed capital formation: The total fixed capital formation in the activity of agriculture, forestry and fishing, experienced successive hikes during the period (2006-2011). The average annual growth rate during that period amounted to 1.6%, while the annual growth rate of total fixed capital formation in the activity remained around 1% in 2011. Electricity, Gas, Water and Waste Management Activity: Abu Dhabi Government attaches special attention to the activity of electricity, water, gas and waste management, as a supporting activity for all other economic activities. This activity witnessed remarkable development following the issuance of the law No. 2 in March 1998, by which Abu Dhabi Water & Electricity Authority was founded to replace the former Abu Dhabi Water & Electricity Department. This was accompanied by the opening of free investment for the national private sector and foreign investors alike, which contributed to raising the level of competitiveness among companies to provide the best offers and services in the field of electricity and water. The government established the Center of Waste Management-Abu Dhabi, in December 2008 under the umbrella of the Environment Agency Abu Dhabi (EAD), to act as the competent authority for monitoring and coordinating the activities of waste management across the emirate, and overseeing the implementation of the governments ambitious strategy in this regard. The generation of electricity in the Emirate of Abu Dhabi grew at an annual rate of 10.4% on average over the last three years, reaching 46.4 thousand (GW / h) in 2011.The rate of production of desalinated water increased to 219.8 billion gallons in 2011, rising at an average annual rate of 17.3% during the period (2008 2011).

The continuing rise in the rates of generation and production of electricity and water is compatible with the need to meet the increasing consumption, due to urbanization and industrial expansion, where electricity consumption rose to 43.3 thousand (GW / h) in 2011, and the consumption of desalinated water was 211.5 billion gallons in 2011. The contribution of the electricity, gas, water and waste management activity to the total GDP of the Emirate of Abu Dhabi, amounted to about 2% in 2011. Value added: The value added to the activity of electricity, gas, water and waste management activities, recorded a remarkable increase during the period (2006 - 2011), from Dh 10.42 billion in 2006 to Dh 16.13 billion in 2011, at an annual rate of 9.14% on average during the period, while the growth rate of the value added to the activity stood at 10.5% in 2011, compared to 2010 Total Fixed Capital Formation: The total fixed capital formation in electricity, gas, water and waste management activity increased from AED 6.6 billion in 2006 to Dh 20.9 billion in 2011, at an annual rate of 25.6% on average during the period (2006-2011), while the growth rate of capital formation in the activity reached 14.5% in 2011, compared to 2010. No doubt that the steady growth demonstrates and justifies the interest paid to the activity of electricity, gas and water, and waste management activities on the part of investors in various government, public and private sectors; taking into consideration the feasibility of investing in this activity, which witnesses rapid development over time. 5 Construction and building: The construction and building activity is of particular importance, as one of the activities most linked to the national economy, as it implements projects required by other activities, in addition to carrying out the maintenance work for these projects. The activity includes a number of sub-activities, according to the International Standard Industrial Classification of economic activities, such as site preparation, construction of complete facilities or parts thereof; and installation and finishing of buildings. The construction and building activity is mainly influenced by the demand resulting from population growth and direct investment. The activity contribution to GDP rose from 6.8% in 2006 to more than 10% in 2011, as a result of the construction boom witnessed by the emirate during the last five years, as several construction projects were completed, to meet the needs of population increase, and the growth of various economic activities. In 2011, the number of building permits for all purposes rose to 13559 licenses, increasing by 17.5% compared to 2010. Value added: The value added to the construction and building activity witnessed remarkable development during the last five years, as a result of the economic development and prosperity experienced by the Emirate of Abu Dhabi during that period, as the value added to the activity increased significantly from Dh 36.9 billion in 2006 to Dh 81 billion in 2011, at a rate annual growth rate of 17% on average during the period (2006-2011). Total fixed capital formation: Many investment projects were carried out during the past five years, resulting in the increase of the total fixed capital formation in the activity of the construction of Dh 2805 million in 2006 to Dh 4862 million years 2011, recording an increase of Dh 2057 million, and a growth rate of 11.6% on average during that period.

THE ECONOMY - GROSS DOMESTIC PRODUCT, GDP

Dubai sees 2013 GDP growth above 4%
Posted on 06/03/2013 Dubai, owner of the world's biggest airline by international traffic, expects the economy to expand at a "relatively high rate in 2013, driven by a tourism boom, a senior government official said. Gross domestic product may grow more than 4 percent this year, Sami Al Qamzi, director general of Dubai Department of Economic Development, said in an e-mailed answer to questions. Figures for the first six months of 2012 point to growth of 4.1 per cent for the full year, he said. "Hotel occupancy ... >>MORE

Dubais GDP to sustain growth target

Posted on 05/02/2013

The economy of Dubai looks set to sustain its growth momentum with investor confidence on the return and increasing activity across core sectors such as trade, tourism, manufacturing and even real estate as reflected in the overall business sentiment in the emirate. The composite Business Confidence Index for Dubai reached 135.9 points in the last quarter of 2012, a 10.8 per cent increase compared to the previous quarter and a two per cent growth from the same quarter of 2011. Optimism was ... >>MORE

Contribution of extractive industries to Abu Dhabi's GDP amounted to 5% in 2011

Posted on 02/01/2013

The Value added to the activity of the extractive industry achieved a remarkable increase, from Dh 291.5 billion in 2006 to Dh 471.8 billion in 2011 at an annual growth rate of 10.1% on average during the period 2006-2011, while the growth rate of the value added to the activity reached 53% in 2011. This dramatic rise was attributed mainly to the increase in oil prices and oil production, according to Chapter IV of Productive Activities of Abu Dhabi Economic Report 2011 issued by the emirate's ... >>MORE

UAE GDP set to grow by 4 per cent

Posted on 27/12/2012

The UAE's real gross domestic product (GDP) is expected to grow by an average of 3.5 per cent this year and 4 per cent next year compared with 4.9 per cent in 2011 and 3.2 per cent in 2010, according to a recent report by the World Bank. The UAE is slated to register a financial surplus of up to 5 per cent of the GDP this year, the bank said, adding that the surplus is expected to rise by 7 per cent of the GDP in 2013. According to the bank's estimates, the financial surplus of the UAE touched ... >>MORE

Dubais 2011 GDP growth surges to 3.4%

Posted on 27/12/2012

An economic report issued on Wednesday shows that Dubai's economy has recorded steady growth over the past two years with an increase in the GDP growth rate from 2.8 per cent in 2010 to 3.4 per cent in 2011 versus a contraction of 2.4 per cent in 2009. This rebound in economic growth was largely due to fiscal and monetary stimulus packages undertaken by the UAE federal authorities as well as the Government of Dubai. Moreover, the resilience of Dubai's major trade partners, especially India ... >>MORE

UAE GDP growth to hit 4.5% in 2012

Posted on 10/12/2012

The UAE's gross domestic product (GDP) growth is expected to reach 4.5 per cent by the end of the current year, surpassing last year's estimates of 4.1 percent, the Ministry of Economy said. The latest projection for the country's economic growth in 2012 is in line with the estimates of the UAE central bank, which, in September, had forecast that the country's economic growth this year may better the International Monetary Fund's (IMF) UAE GDP growth estimates of 3.5 per cent, Gulf News ... >>MORE

Abu Dhabis GDP estimated to grow at 5.7% between 2013-2016

Posted on 20/11/2012

The emirate of Abu Dhabi's gross domestic product (GDP) is estimated to grow at an average annual rate of 5.7 per cent between 2013-2016, Mohammad Omar Abdullah, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED) said here yesterday. Speaking at the annual Abu Dhabi Conference organised by MEED in the capital, Abdullah said the estimate for the oil-rich emirate's GDP growth during this fiscal year is 3.9 per cent. "Forecasts for non-oil GDP reflect an average growth ... >>MORE

Abu Dhabi may beat 2012 GDP growth forecast

Posted on 23/10/2012 Abu Dhabi's economic growth this year will probably beat the government's estimates as non-oil industries in the emirate expand, the Department for Economic Development said. "I expect it will be better than 3.9 per cent, Undersecretary Mohamed Omar Abdulla said in an interview. "We encourage banks to go for productive activity to encourage the manufacturing and industry sectors. The Abu Dhabi government, which runs one of the world's richest sovereign wealth funds is seeking to bolster ... >>MORE

Abu Dhabi's GDP grows 6.8 percent in real terms in 2011: SCAD
Posted on 15/10/2012

Statistics Centre - Abu Dhabi (SCAD) released yesterday preliminary data that Abu Dhabi GDP at constant prices grew from Dh 567.8 billion in 2007 to Dh 606.6 billion in 2011, achieving an annual growth rate of 6.8 percent. These results demonstrate that the emirate's economy has bounced to levels above those that dominated prior to the global financial crisis, giving it a huge competitive advantage and boosting its appeal to local and foreign investors. The report shows the first figures of ... >>MORE

Central Bank estimates UAE 2012 GDP growth to top 3.5%

Posted on 11/09/2012

The UAE's economic growth this year may better the International Monetary Fund's (IMF) gross domestic product (GDP) growth estimates of 3.5 per cent for the country, the Central Bank said yesterday in its first-ever Financial Stability Review. Citing reasons for its optimism, the apex bank said: "Dubai may achieve 4 per cent growth or more as it was

stated in the Dubai Economic Outlook for the year 2012; an equally high growth is expected in the emirate of Abu Dhabi following the recent ... >>MORE

UAE GDP to grow 3.1% in 2012

Posted on 09/09/2012 The UAE's real GDP is projected to expand by around 3.1 per cent in 2012, driven by strong performance in both the hydrocarbon and non-oil sectors, according to Saudi Arabia's largest bank. Growth in 2012 will be below the 4.9 per cent GDP rise in 2011, when average oil prices climbed to a record high of more than US$105 a barrel and the UAE pumped at one of its highest crude output levels. Forecasts by National Commercial Bank (NCB) showed the UAE's GDP, the second largest in the Arab world ... >>MORE

UAE GDP to pick up in 2012

Posted on 27/08/2012

The UAE's real economy expanded by around 3.2 per cent in 2011 mainly because of higher oil prices and production and is projected to pick up by about 3.5 per cent in 2012, according to a UN group. The other members of the six-nation Gulf Cooperation Council (GCC) are also expected to record strong GDP performance through 2012 in contrast with other Arab nations which have been hit by political unrest, the UN Economic and Social Commission for Western Asia (Escwa) said in a report. It showed ... >>MORE

Abu Dhabi's GDP at current prices above Dh800 billion, says SCAD
Posted on 08/07/2012

The Statistics Centre - Abu Dhabi (SCAD) on Saturday released preliminary figures shedding light on the key developments in Abu Dhabi economy over the last year. These are the first detailed figures confirming that the Emirate's economy has evidently overcome the repercussions of the global financial crises, posting significant growth all activities and sectors, both oil and non-oil. Growth in the GDP at current prices during 2011 surpassed all the forecasts and estimates made by local and ... >>MORE

UAE GDP up US$62 billion in 2011: IMF

Posted on 20/05/2012

Strong crude prices allied with high oil production by the UAE to boost its nominal gross domestic product by nearly US$62 billion in 2011 and allow it to maintain its position as the second largest Arab economy. Oil prices averaged a record high of nearly US$110 in 2011 while the UAE pumped around 2.6 million barrels per day, one of its highest crude production levels since it began exporting oil five decades ago. Given its heavy reliance on oil exports, higher prices and output expanded ... >>MORE

Abu Dhabi private sector at third of GDP

Posted on 16/04/2012

Abu Dhabi's private sector has steadily grown over the past years to reach nearly a third of the emirate's GDP and largely surpass the government sector. Figures by the Abu Dhabi Chamber of Commerce and Industry showed the private sector would grow by around 6.4 per cent in 2012 while the non-oil government is projected to expand by 5.5 per cent. The private sector's contribution to GDP was estimated at around Dh218 billion in 2011 and is forecast to climb to Dh232 billion in 2012, the ... >>MORE

UAE GDP to climb to US$358 billion in 2012

Posted on 04/04/2012 The UAE's GDP will climb to its highest level of around US$385 billion in current prices in 2012 to maintain its position as the largest Arab economy after Saudi Arabia, regional data showed on Wednesday. At that level, the UAE will account for more than a fifth of the combined GDP of the six-nation Gulf Cooperation Council (GCC), forecast at around

US$1.46 trillion this year, its highest ever, the Saudi-based Federation of GCC chambers of commerce and industry (FGCCI) said in a report, ... >>MORE

UAE GDP grew by almost 5% in 2011: IMF

Posted on 15/03/2012

The UAE economy swelled by 4.9 per cent in 2011 to surpass earlier expectations due to higher oil output and expansion in the non-hydrocarbon sector, according to the IMF. Real GDP growth is projected to moderate to 2.5 per cent this year but non-hydrocarbon growth will remain strong, said Harald Finger, who led an IMF mission to the UAE during February 28-March 14 to conduct discussions for the Article IV consultation with the country. The mission met with Minister of State for Financial ... >>MORE

Dubai GDP to grow by 5% in 2012

Posted on 16/02/2012

Dubai's GDP is expected to grow between 4.5 and five per cent in 2012, Sheikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, said at the Dubai Economic Outlook 2012 conference yesterday. "In spite of the difficulties Dubai has experienced, particularly in 2009 and early 2010, its strategy of creating new opportunities through diversification has succeeded in bringing about economic prosperity and stability," he said. Sheikh Ahmad said Dubai's economy returned ... >>MORE

Dubai's GDP forecast to grow 4.1% in first quarter

Posted on 24/01/2012

Dubai's GDP is expected to grow 4.1 per cent in the first quarter of this year, according to the Dubai Economic Outlook 2011 report released by the Dubai Economic Council yesterday. However, the report also suggested that GDP growth might decline as the year wears on. Abdul Razak Al Faris, chief economist and CEO of research at the Dubai Economic Council, said any such decline would be brought on by an economic slowdown in Dubai's trade partners such as the EU members, China, India and other ... >>MORE

Abu Dhabi GDP expected to grow 4% in 2012

Posted on 27/12/2011

The gross domestic product (GDP) of the emirate is expected to grow 4 per cent to Dh750 billion next year, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) said yesterday. The contribution of oil industry revenues to GDP is expected to rise to Dh385 billion in 2012 from Dh347 billion in 2011. Of the projection for oil-based revenue in 2012, crude oil accounts for Dh345 billion, compared with Dh309 billion in 2011. Refining and gas liquefaction will account for the remaining Dh40 ... >>MORE

UAE GDP to peak at Dh1.248 trillion in 2011

Posted on 18/12/2011 The UAE's GDP is expected to peak at Dh1.248 trillion in current prices this year to maintain its position as the largest in the Arab world after Saudi Arabia's economy, according to an official study. The expected level this year will be nearly 198 times the country's nominal gross domestic product of Dh6.5 billion when it was established in 1971, the Dubai Economic Council said in the study, dubbed "the document of the union era. Real GDP is forecast to grow by around 3.3 per cent in ... >>MORE

Non-oil input to Abu Dhabi GDP growing

Posted on 20/11/2011 Abu Dhabi's oil-dependent economy is diversifying fast as the share of its non-oil sector has grown for the second year in a row. In 2010, oil contribution to gross domestic product, or GDP, was 49.7 per cent as the emirate is on the right track towards achieving sustainable development, said Nasser Ahmed Al Suwaidi, chairman of the Abu Dhabi Department of Economic Development. He said Abu Dhabi has come a long way in diversifying the economic base in a manner consistent with the goals of ... >>MORE

UAE to grow 4.4% in 2011

Posted on 23/10/2011

Strong oil prices will ally with high public spending to boost the UAE's real GDP by around 4.4 per cent in 2011 while its fiscal and current account balance will record large surpluses, according to a key Western financial centre. Growth this year is higher than the 3.2 per cent increase in the GDP of the second largest Arab economy but growth is projected to slow down to around 3.1 per cent in 2012 as a result of an expected fall in crude prices, the Washington-based Institute for ... >>MORE

Abu Dhabi GDP to top Dh1.5trn in 2030

Posted on 11/10/2011

Abu Dhabi's real GDP could rocket above Dh1.5 trillion in 2030 while the non-oil sector will leap to nearly Dh976 billion to maintain its share of more than half the overall economy, according to government data. The GDP in 2030 will be more than five times its level of Dh285bn in 2005 and nearly triple the 2010 GDP of Dh517bn, showed the figures by the Abu Dhabi Department of Economic Development (DED). A study presented to an economic seminar in Abu Dhabi last week forecast steady GDP ... >>MORE

UAE may see 3.3% real GDP growth

Posted on 06/09/2011

The UAE is expected to achieve a 3.3 per cent real GDP growth in 2011 as the country continues to improve its economy during the year on increased trade, tourism, consumer confidence and rising oil prices, according to a new study and recent forecasts. "We have left our 2011 real GDP growth forecast of 3.3 per cent unchanged for now, and reiterate our belief that the UAE is among one of the only countries that has seen its growth outloo improve since the start of 2011, Business Monitor ... >>MORE

Al Suwaidi sees 2011 GDP growth at 4%

Posted on 27/06/2011

The United Arab Emirates prefers to use dollar-based instruments such as deposits rather than low-yielding US Treasuries to manage foreign reserves, its central bank governor said on Sunday. Sultan Nasser Al Suwaidi also told Reuters in an interview on Sunday that he expected the UAE economy to grow by up to 4 per cent this year, driven by the tourism and trading sectors. Concerns over US Treasuries, one of the favourite instruments for the world's central banks in managing reserves, are ... >>MORE

UAE GDP expected to grow 3-3.5 % in 2011: Economy Minister

Posted on 02/06/2011

Based on indicators in the first five months of 2011, the United Arab Emirates' gross domestic product is expected to grow between 3 to 3.5 percent this year, Sultan bin Saeed Al Mansouri, Minister of Economy, said yesterday. Speaking to reporters on the sidelines of the 21st meeting of GCC ministers for planning and development in Abu Dhabi, Al Mansouri said the GCC invitation for Jordan and Morocco to join the group would, if takes place, contribute to expanding the GCC Common Market and ... >>MORE

UAE's GDP grow 1.4% in 2010, says report

Posted on 15/05/2011

The United Arab Emirates' economy grew 1.4% in real terms in 2010 after shrinking 1.6 percent in 2009, according to the National Bureau of Statistics' data released on Saturday. The statistics office said in the statement that higher oil prices were a key factor driving the OPEC member's economy out of the global financial crisis. The National Bureau of Statistics also said it changed its base year for economic indicators to 2007 from the previous benchmark of 2000. - Emirates News Agency, WAM ... >>MORE

UAE GDP to grow around 3.5% in 2011

Posted on 11/05/2011

The United Arab Emirates' gross domestic product (GDP) is expected to grow by between 3 and 3.5 per cent in 2011, economy minister Sultan Bin Saeed Al Mansoori said on Tuesday. "We are expecting for this year the GDP of the UAE to range between 3 to 3.5 per cent, Al-Mansoori told reporters on the sidelines of an investment event. "Inflation will be under control. So far we predict it will be hovering between 1 to 1.5 per cent, he also said. "But I am not worried about it. Analysts polled ... >>MORE

Dubai GDP growth seen at 3 to 5% in 2011

Posted on 01/03/2011

Dubai's economy may expand by up to 5 per cent this year, the head of its chamber of commerce said on Monday, adding that it is too early to quantify the local business impact of uprisings elsewhere in the region. "We expect 3 to 5 per cent of real gross domestic product (GDP) growth in 2011," Hamad Bu Amim, director general at the Dubai Chamber of Commerce and Industry, said. "I don't want to call Dubai an escape haven, but Dubai should be viewed as a very stable entry point into the Middle ... >>MORE

UAE nominal GDP up 1.5% to reach Dh928b

Posted on 25/01/2011

The nominal gross domestic product, or GDP, of the UAE is estimated to have reached Dh928 billion, up 1.5 per cent in 2010, while the real GDP grew 0.6 per cent to Dh517.6 billion in the same year, Global Research reveals in its latest Economic Review. Refuelling the economic growth in 2010 was the hydrocarbon sector, accounting for 34 per cent of the GDP, up from 29 per cent in the previous year, the review shows. The difference between the nominal GDP, which is based on current prices, and ... >>MORE

Abu Dhabi real GDP to grow 3.8% in 2011

Posted on 12/01/2011

Abu Dhabi's economy is projected to grow by nearly 3.8 per cent in 2011 and the nonhydrocarbon sector will likely drive that growth, a local report has shown As the emirate is pushing ahead with expansion projects in its hydrocarbon sector, oil investments are forecast to climb to a record high of around Dh33.7 billion in 2011, nearly Dh4 billion above 2010, said the report by the Abu Dhabi Chamber of Commerce and Industry (ADCCI). From around Dh546.7 billion in 2010, Abu Dhabi's real GDP ... >>MORE

Abu Dhabi GDP to grow 8% in 2011

Posted on 30/12/2010

Strong oil prices will boost Abu Dhabi's economy by nearly eight per cent in current prices next year while investments will surge by 15 per cent, nearly half of which will come from the private sector, according to a local study. Exports are also projected to swell by nearly 9.5 per cent in 2011 and imports by around eight per cent, indicating a continued recovery in domestic business, said the study by the Abu Dhabi Chamber of Commerce and Industry. From an estimated Dh546.7 billion in ... >>MORE

Abu Dhabi is planning to achieve growth by 6-7% in real GDP over the period 2008-2012
Posted on 15/11/2010 Abu Dhabi is planning to achieve growth by 6-7% in real GDP over the period 20082012, according to the annual economic report on Public Finance and Economic Planning released by Department of Economic Development in Abu Dhabi. 'That aim corresponds to a large extent the main objectives of the Vision of an overall growth target of 7%. The non-oil economy would be an important contributor to the overall growth of the economy of Abu Dhabi. Similarly, it is expected to match the rates of ... >>MORE

IMF raises UAE's growth outlook to 2.4%

Posted on 10/10/2010

The IMF has upgraded its GDP forecast for the UAE this year as the economy benefits from a strong rebound in Asia and agreement over Dubai Worlds US$24.9 billion (Dh91.45bn) debt restructuring plans. Economic expansion would reach 2.4 per cent, faster than the 1.3 per cent it previously forecast. The IMFs latest forecasts are contained in its revised world economic outlook report released yesterday. Masood Ahmed, the director of the Middle East and Central Asia department of the IMF, ... >>MORE

IMF doubles UAE growth projections

Posted on 07/10/2010 The UAE's gross domestic product (GDP) is expected to grow 2.4 per cent this year, a strong turnaround from its 2.5 per cent decline last year, according to the International Monetary Fund (IMF) Wednesday. This is nearly double the earlier projection of 1.3 per cent for the UAE economy by the IMF and close to a projection by the UAE Ministry of Economy of about 2.5 per cent. The latest edition of the IMF's half yearly status report, Global Economic Prospects (GEP), also projected 3.2 per ... >>MORE

UAE GDP likely to grow 2% in 2010: AMF

Posted on 01/09/2010 The Arab Monetary Fund (AMF) expects the UAE gross domestic product (GDP) to grow by two per cent this year against a contraction of one per cent over 2009. The periodical bulletin of the Arab Capital Markets performance and economic indicators for the first half of the year said that developments in the Abu Dhabi Securities Exchange

and Dubai Financial Market indicated that the consolidated budget, based on the current oil prices, would register a total surplus of Dh 14 billion as compared to ... >>MORE

GDP is growing steadily: Tayer tells FNC

Posted on 16/06/2010

The state's financial situation is 'sound' and economic indicators are 'positive', Obaid Humaid Al Tayer, Minister of State for Financial Affairs, affirmed yesterday. 'The Gross Domestic Product (GDP) is growing steadily and the situations are positive in general as there is state indebtedness at all,' the minister told a Federal National Council session held to discuss the policy of the ministry of finance. Al Tayer said his ministry had reaped interests amounting to Dh3.2 billion from 39 ... >>MORE

UAE nominal GDP to expand 8% in 2010

Posted on 10/06/2010

A marked increase in the UAE's private consumption, investments and net exports will bring the country's nominal GDP to Dh843 billion by the end of this year, eight per cent higher than the estimated Dh780bn in 2009. The country is also set to see a two per cent employment growth, with Dubai touching positive territory again. Figures from the Dubai Chamber of Commerce and Industry show that the UAE's private spending, which dropped 12.5 per cent last year, is expected to increase by two per ... >>MORE

UAE's real GDP expected to grow 2%: IIF

Posted on 18/05/2010

The UAE's real GDP is expected to grow at moderate rates of two per cent this year and 2.7 per cent in 2011, forecast the Washington-based Institute of International Finance (IIF). "With a successful resolution of Dubai World's debt issues, especially if this sparks an acceleration of reforms, growth could reach 2.7 per cent this year and 4.3 per cent next year," said IIF in its latest "GCC Regional Overview" released yesterday. Dubai World's debt refinancing challenges should be viewed in ... >>MORE

UAE likely to see real GDP growth of 2.5% in 2010

Posted on 26/01/2010

The UAE is likely to see real GDP growth of 2.5 per cent this year and double to five per cent next year as risk appetite grows and investments begin to flow into Dubai's real estate sector, analysts said yesterday. Emirates NBD Chief Economist Tim Fox and Chief Investment Officer Gary Dugan said in a media roundtable yesterday that "an increasing number of our clients have started to put money towards real estate, Dubai's real estate. "The interest is really huge, it's not small money. The UAE is likely to see real GDP growth of 2.5 per cent this year and double to five per cent next year as risk appetite grows and investments begin to flow into Dubai's real estate sector, analysts said yesterday. Emirates NBD Chief Economist Tim Fox and Chief Investment Officer Gary Dugan said in a media roundtable yesterday that "an increasing number of our clients have started to put money towards real estate, Dubai's real estate. "The interest is really huge, it's not small money. ... >>MORE

Sharjah's GDP grows by 11% over five years

Posted on 18/11/2009

Sharjah's Gross Domestic Product (GDP) has risen to Dh71 billion by the end of 2008 from Dh41bn in 2005, with a recorded annual growth rate of 11 per cent over the past five years, according to Marwan Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq). Participating in the UAE Businessmen's Forum organised by Sharjah Chamber of Commerce and Industry, Sarkal said Sharjah is one of the most important destinations for investors in the tourism sector. "We believe that ... >>MORE

Abu Dhabi's GDP grew 30% in 2008: Report

Posted on 05/11/2009

Defying challenges, implications of the international financial crisis and sharp surge in prices of most food commodities, the Abu Dhabi's GDP rose at current prices to 30 per cent in 2008 from 17.2 per cent in 2007, according to the Abu Dhabi Economic Report 2009. The Report was released yesterday at a press briefing held by the Department of Economic Development in Abu Dhabi (DED). DED Chairman Nasser Al Suweidi said in the forward of the report that "The DED has made a raft of measures ... >>MORE

Dubai's GDP rises 0.3% in first quarter despite global downturn

Posted on 28/10/2009

Dubai's GDP rose in the first quarter of the year despite the global financial downturn, according to newly released figures by the Dubai Statistical Centre. GDP in constant prices rose 0.3 per cent in the first quarter of 2009 compared with the first quarter of 2008. In the first quarter last year it was Dh68.21 million. It rose to Dh68.397 million. The five most predominant sectors which have shown resilience to the economic downturn and led to this first quarter rise are the wholesale ... >>MORE

RAK's GDP grows 14%

Posted on 31/08/2009 Gross domestic product of Ras Al Khaimah grew by 14% to hit Dh13.65 billion, according to the Economic Development Department in Ras Al Khaimah. The figures were revealed in the 10th edition of the statistics book, published annually by the Department. - Emirates News Agency, WAM ... >>MORE

UAE GDP soars 23% to Dh934 billion in 2008

Posted on 28/07/2009

The UAE economy raced by more than 23 per cent in nominal terms to more than Dh934 billion in 2008 and the surge was in both the oil and non-oil sectors, official estimates showed yesterday. Abu Dhabi and Dubai remained the dominant economies with the UAE, accounting for nearly 87 per cent of the total gross domestic product of the seven emirates, the Ministry of Economy said in a new report. Revising earlier figures for the GDP, which was previously estimated at Dh927bn, the report put the ... >>MORE

Real GDP grew 7.4% in 2008

Posted on 26/07/2009

The UAE economy grew by about 7.4 per cent in real terms in 2008 despite a sharp decline in oil prices in the second half of the year because of the global financial downturn, said the Central Bank yesterday. Releasing its annual report for 2008, the bank said the high growth was a result of strong oil prices in the first half of 2008 and steps

taken by the government in the second half to counter the impact of the crisis. The rate was higher than the 5.3 per cent real growth recorded in ... >>MORE

UAE economy records 7.4% growth in 2008

Posted on 26/03/2009 The UAE economy recorded a growth of 7.4% in 2008. Preliminary data issued by the Central Statistics Department of the Economy Ministry indicates that total Gross Domestic Product (GDP) at fixed price amounted to Dh 535.6 billion in 2008, representing a growth rate of 7.4 per cent, against Dh 498.7 billion, and a growth rate of 5.2 per cent in 2007, whereas the GDP at current price totaled to about Dh 929.4 billion in 2008 over Dh 729.7 billion in 2007. According to Sultan Bin Saeed Al ... >>MORE

Sharjah's GDP grows to Dh68.4 billion in 2007

Posted on 23/10/2008

Ali Bin Salem Al Mahmoud, Sharjah Economic Development Department (SEDD) General Manager stated that the government financial tools and the wise leadership of HH Dr Sheikh Sultan bin Mohammed Al Qasimi, UAE Supreme Council member and ruler of Sharjah have significantly contributed to buffer the local economic activities from the impacts of global financial crunch. This was apparent as the Government sector has grown its share of the emirate's GDP from Dh60.4 billion in 2006 to Dh68.4 billion ... >>MORE

UAE's GDP doing well despite global inflation: Minister

Posted on 18/09/2008

The UAE GDP in 2007 reached Dh 729.7 billion, with a growth of 7.4% from last year's figures, while the contribution of non-oil sectors to the GDP for the same year was a healthy Dh 467bn, which constitute 64.1% of the total UAE GDP for 2007, according to Minister of Economy H.E Sultan Al Mansouri. The Minister was addressing Dubai's Business Councils and Groups at the Business Networking Suhoor organized by Dubai Chamber of Commerce and Industry (DCCI) as part of their regular monthly ... >>MORE

UAE's GDP grew by 5.2pc during last year - Report

Posted on 17/09/2008 The real Gross Domestic Product of UAE grew by 5.2% during 2007, showed a report released by the Ministry of Economy. The country's economy expanded to Dh729.7

billion during last year, according to the report. It said that the GDP in the non-oil sector achieved a growth rate of 16.8 pc, rising into Dh 467.9bn. This accounted for 64.1% of the total GDP during 2007. The report asserted the success of UAE in covering a long distance in its march towards economic growth, and in diversifying its ... >>MORE

Abu Dhabi's GDP seen at US$179 billion in 2010

Posted on 27/08/2008

Buoyed by robust growth in non-oil sectors, high oil revenues, strong investor confidence in the local economy, Abu Dhabi's real GDP is projected to quadruple to US$315 billion by 2025, according to a top official said on Tuesday. "Comfortable oil-backed financial status, innovative business environment, ultra-modern infrastructure and vibrant performance of macro-economy will keep Abu Dhabi economy on track of powerful growth, said Dr. Ahmed Menawi, an economist at Department of Planning ... >>MORE

GDP growth likely to be at 7.2% for 2008

Posted on 14/07/2008 The UAE's real GDP growth rate is projected to slow down to 7.2 per cent this year against 7.4 per cent in the previous year, says a new Merrill Lynch report. The forecast by the world's leading financial and advisory company is in line with the UAE's Ministry of Economy statement last week that real GDP grew by 7.4 per cent last year. The report said the UAE's nominal gross domestic product (GDP) growth is expected to rise from last year's US$190 billion (Dh697.3bn) to US$237.5bn in 2008. ... >>MORE

Investments into Abu Dhabi set to reach Dh1 trillion

Posted on 02/06/2008

Abu Dhabi has attracted nearly Dh300 billion in cumulative investments over the past five years and the capital is projected to triple to more than Dh1 trillion in the next five years, semi-official data showed yesterday. But the total value of projects to be carried out in the emirate could exceed Dh1.3trn in the next few years and more than half of them would be in the construction sector, said the Abu Dhabi Chamber of Commerce and Industry. In a 50-page report on Abu Dhabi's economy, the ... >>MORE

UAE's nominal GDP to surge 24.5pc in 2008

Posted on 13/05/2008 The International Monetary Fund (IMF) yesterday said inflation in the UAE, estimated at 11 per cent in 2007, is set to drop to nine per cent in 2008, but cautioned that dirham's depegging from the dollar or revaluation could have little impact in controlling escalating prices. Mohsin Khan, Director of IMF's Middle East and Central Asia Department (MCD), said the UAE would see a sustained growth with its nominal Gross Domestic Product (GDP) achieving 24.5 per cent growth from US$192.6 ... >>MORE

Abu Dhabi GDP projected to hit US$300 billion by 2025: DPE weekly report
Posted on 11/05/2008

With steady growth of non oil sector, Abu Dhabi GDP will hit US$300 billion by 2025. Non oil sector is predicted to touch 60 per cent of Abu Dhabi GDP, while oil sector is projected to reach 40 per cent of GDP, according to the weekly report released by Department of Planning and Economy (DPE). "The Abu Dhabi emirate is faring steadily and forcefully into future under master strategic plans and guidelines aiming at a radical transformation in the local economic structure", it added. The report ... >>MORE

Ajman GDP surges 27% to hit Dh10bn

Posted on 01/05/2008

Ajman's gross domestic product (GDP) grew by 27 per cent in 2007 over the year before to touch Dh10 billion, according to the emirate's Chamber of Commerce and Industry. Obaid Ali Al Muhairi, Chairman of Ajman Chamber of Commerce and Industry, told Emirates Business the increase, which he termed significant, could be attributed to the growth of investments in various sectors in the emirate. He added that over the past five years from 2003 to 2007 the volume of trade, or exports and ... >>MORE

UAE's CPI expected 8% by end-2009

Posted on 29/04/2008 The consumer price index (CPI) in the UAE is expected to decline to 8 per cent by the end of 2009 after hitting 12 per cent this year, Merrill Lynch said on Monday. The UAE's real gross domestic product is likely to decline to 6.1 per cent for the coming year after registering a rise to 6.4 per cent this year, it added. According to Merrill Lynch, the UAE's nominal gross domestic product is expected to touch US$220 billion (Dhs807.4 billion) this year, up from nearly US$190 billion, and is ... >>MORE

Dubai set to sustain 11pc GDP growth

Posted on 29/03/2008 Dubai's real gross domestic product (GDP), which surged to a record Dh198 billion in 2007, is predicted to sustain an average growth rate of 11 per cent for the next eight

years. The main driver of this remarkable growth - outpacing the average growth rate forecast for the GCC - will be the non-oil sector, growing at a spectacular pace. According to Hisham Abdullah Al Shirawi, Second Vice-Chairman, Dubai Chamber of Commerce and Industry, the key sectors fuelling the growth include tourism, ... >>MORE

RAK GDP grows by more than 50 % over the last four years.
Posted on 28/01/2008

Ras Al Khaimah's Gross Domestic Product (GDP) has grown by more than 50% over the last four years and the fast- growing emirate, riding a wave of massive inward investments, is expected to clock an annual growth rate of over 15% in the next few years, Ras Al Khaimah Investment Authority (RAKIA) announced at the Ras Al Khaimah Conference 2008 which started off at the Al Hamra Fort Hotel here today. Delivering the keynote address at the conference, Dr. Khater Massaad, Advisor to RAK Crown ... >>MORE

UAE's non-oil GDP to exceed 70%

Posted on 08/01/2008

The UAE's non-oil gross domestic product is expected to exceed 70 per cent by 2010, according to forecasts by NCB Capital, a Saudi Arabia-based investment bank. The country's GDP is believed to have reached Dh698 billion last year from Dh599 billion in 2006, according to the UAE Ministry of Economy. "The UAE economy has been largely hydrocarbon-independent. Going forward, on the back of continued diversification efforts, we expect the growth in non-oil sectors to surpass that of the oil ... >>MORE

Emirates GDP up 16.48%

Posted on 06/01/2008

The UAE economy will surpass expectations and grow at 16.48 per cent in nominal terms in 2007, driven by higher-than-forecast expansion of the non-oil sectors and record crude prices, the Ministry of Economy said Saturday. Earlier expectations of increase in the country's gross domestic product, or GDP, had peaked at 16 per cent in October when the

International Monetary Fund had predicted a GDP of Dh679.1 billion in 2007. The Ministry of Economy said it expects the GDP for 2007 to reach ... >>MORE

IMF sees 7.7% growth in UAEs GDP

Posted on 18/10/2007 The real Gross Domestic Product, GDP, of the UAE is expected to grow by 7.7 per cent this year compared to 9.4 per cent in 2006 and 8.2 per cent in 2005, according the International Monetary Fund, IMF. In its Article 4 Report on the performance of the UAE economy, the IMF said the oil gross domestic product of the UAE was likely to grow to 3.5 per cent this year compared with 6.5 per cent in 2006. According to the report, the nominal gross domestic product of the UAE is expected to grow to ... >>MORE

UAE's GDP records 23.4% rise in 2006 to Dh599.2b

Posted on 10/09/2007

UAE's gross domestic production (GDP) increased by 23.4 per cent at current prices in 2006 to amount to Dh599.2 billion when compared to the preceding year, according to the country's central bank. The increase in the non-oil sectors surged to 20.3 per cent, to constitute 62.7 per cent of the total GDP, while revenues from oil and gas production increased by 29 per cent to Dh223.4 billion. The balance of payment achieved a surplus in both the trade and current balances, with the latter's ... >>MORE

UAE revises 2006 GDP growth to 9.4%

Posted on 21/08/2007

The UAE revised up its 2006 economic growth rate to 9.4 per cent on faster expansion in the oil and gas sector, the economy ministry said. The second-largest Arab economy expanded to Dh391.16 billion (US$106.5 billion) last year, from Dh357.59 billion in 2005, according to the latest data published on the Ministry of Economy website. The ministry said in March real gross domestic product grew 8.9 per cent last year. The ministry revised the growth rate to account for higher growth in the oil ... >>MORE

UAE's GDP to surge to Dh584b in 2010: report

Posted on 25/07/2007 Gross Domestic Product, GDP, of the emirate of Abu Dhabi is projected to rise by 8.2% in 2007 and will maintain a steady growth rate of no less than 13% to hit Dh584 billion in 2010, according to a recent report by the Abu Dhabi Chamber of Commerce and Industry, ADCCI. The report which was published today expected non-oil sectors to keep

a steady annual growth of at least than 18%. The share of non-oil sectors in the GDP is expected by the report to rise to Dh163 billion in 2007 up from Dh138 ... >>MORE

UAE's GDP predicted to reach Dh697b in 2007

Posted on 21/05/2007 UAE's Gross Domestic Product is projected to rise to Dh 697 billion in 2007, according to the country's Investment Climate report for 2006, published by the Ministry of Finance & Industry. The report, which was prepared by the ministry in collaboration with the Arab Investment Guarantee Corporation, provides indicators for macro economy, investment promotion activities, legislative and corporate developments, tourism sector and the new economy initiatives. According to the report, the ... >>MORE

UAE GDP in 2007 expected to touch Dh689 billion

Posted on 14/05/2007 The gross domestic product (GDP) growth of the United Arab Emirates (UAE) is projected to rise to US$186.2 billion (Dhs689 billion) in 2007 against US$168.5 billion (Dhs623.45 billion) last year. According to International Monetary Fund's (IMF) latest report, the non-oil GDP growth of the UAE is expected to drop by one per cent to 10.1 per cent in 2007 against 11.1 per cent in 2006; the oil GDP growth is estimated to substantially decline by 2.5 per cent in 2007 against six per cent last ... >>MORE

UAE's GDP surges ahead

Posted on 19/03/2007

The UAE's Gross Domestic Product (GDP) grew in nominal terms by 23.5 per cent in 2006 to Dh599 billion, compared to Dh485 billion in 2005, according to a report issued by the Ministry of Economy yesterday. The economic growth rate reached 33.4 per cent at current prices, while in terms of fixed prices the rate was 8.9 per cent. "The base year for the fixed prices based growth calculation is 2000," said Sultan Bin Nasser Al Suwaidi, governor of the UAE Central Bank. The non-oil sector's ... >>MORE

Abu Dhabi GDP likely to touch Dh584b by '10

Posted on 11/03/2007 The gross domestic product (GDP) of Abu Dhabi emirate is expected to touch Dhs584 billion by 2010, growing annually by 13 per cent, according to a report. In 2006, the GDP of Abu Dhabi amounted to Dhs367 billion and is expected to average around 8.2 per cent

growth in 2007. The GDP growth in the emirate in 2006 was mainly attributed to high oil prices. A report published by the Abu Dhabi Chamber of Commerce and Industry (ADCCI) said that oil prices hovered around US$64.5 a barrel, and ... >>MORE

Nominal UAE GDP rises 23% to Dh599b

Posted on 15/02/2007

The UAE's nominal gross domestic products (GDP) rose 23 per cent to Dh599 billion last year, according to a top government official. "Our economy is going ahead in leaps and bounds. Growth for the UAE has been 23 per cent in nominal terms for 2006 and GDP was Dh599 billion for 2006. This is another record year for the UAE," Mohammad Ahmad Bin Abdul Aziz, undersecretary for Planning at the Ministry of Economy told delegates at the Greece Business Forum yesterday. "Oil prices have reached ... >>MORE

Tourism contributes 18% to Dubai's GDP per year

Posted on 14/02/2007

The director of operations and marketing at the Dubai Department of Tourism and Commerce Marketing (DTCM) Mohammad Khamis Bin Hareb said that tourism contributes around 18 per cent of Dubai's direct gross domestic product and 29 per cent of its indirect GDP. He said this comes as a result of the tremendous efforts exerted by the government of Dubai in activating tourism. Bin Hareb made these remarks while

speaking at an inaugural ceremony of a symposium for the promotion of tourism and real ... >>MORE

Sharjah GDP climbs an impressive 19%

Posted on 25/01/2007

Sharjah's gross domestic product grew 19 per cent to Dh42.5 billion last year compared with Dh37.5 billion in 2005, according to a top official. "This is further proof of the success of our investment plans which we have prepared and which have now translated into generating continuous economic growth for our emirate," Ali Bin Salem Al Mahmoud, director-general of the Sharjah Economic Development Department (SEDD), said in a statement. SEDD issued 40,215 licences in 2006, a 10.2 per cent ... >>MORE

Abu Dhabi GDP to touch Dh584b

Posted on 23/01/2007

The Gross Domestic Product (GDP) of Abu Dhabi is projected to rise significantly by 8.2 per cent in 2007, according to Salah Salim Bin Omeir Al Shamsi, Chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI). Al Shamsi also predicted the growth of the GDP in the emirate to maintain the uptrend to around 13 per cent in the few years to come until it reaches Dh584 billion by 2010. The ADCCI chief added: "The 2006 GDP which stood at Dh367 billion, was driven by high average price ... >>MORE

Abu Dhabi GDP may hit Dh367bn in 2006

Posted on 27/12/2006

Abu Dhabi's gross domestic product (GDP) this year is expected to go up to Dh367 billion and then increase by 8.2 per cent in 2007, according to a report released yesterday by the Abu Dhabi Chamber of Commerce and Industry (ADCCI). The emirate's economy will continue in its upward trajectory to log growth rates of at least 13 per cent per annum until 2010, the report said. The volume of development projects in the emirate has reached some Dh923bn in 2006, the chamber said, and added that ... >>MORE

Sheikha Lubna predicts 23 percent GDP growth in 06

Posted on 25/11/2006 The United Arab Emirates is set to keep the pace of economic boom during 2006 with the country's Gross Domestic Product expected to rise by 23 percent to Dh 597 billion, according to Economy Minister Sheikha Lubna Al Qasimi. Addressing a celebration held in commemoration of the Dubai Office of the Japan Bank for International Cooperation, Sheikha Lubna quoted the International Monetary Fund forecasts as suggesting a massive 36 percent growth in GDP to Dh 648 in 2006. "In 2005, the UAE ... >>MORE

Abu Dhabi and Dubai lead in contributions to GDP

Posted on 09/11/2006 Abu Dhabi and Dubai contributed 59 per cent and 28.9 per cent respectively to the UAE's GDP last year, according to the latest report by the Dubai Chamber of Commerce and Industry (DCCI). Sharjah and Ajman contributed 7.4 per cent and 1.2 per cent to the UAE's GDP, Umm al-Qawain, Ras Al-Khaimah, and Fujairah contributed 0.4 per cent, 1.9 per cent and 0.4 per cent respectively Sector-wise, oil contributed 27 per cent while manufacturing fetched 20 per cent, trade 17 per cent, real estate ... >>MORE

Abu Dhabi's GDP likely to grow 13.25% this year

Posted on 08/11/2006

Abu Dhabi's GDP is expected to grow by 13.25 per cent to Dh341 billion this year compared to Dh301 billion in 2005, on the back of a robust non-oil sector. According to the Abu Dhabi Chamber of Commerce and Industry (ADCCI), the non-oil sector contributed more than Dh105.6 billion to GDP in 2004, Dh122.3 billion in 2005, and it is projected to rise to Dh139.4 billion in 2006. "Over the past six months, the emirate of Abu Dhabi has announced investments in excess of Dh587.2 billion (US$160 ... >>MORE

RAK GDP rises 18% to Dh9.25b

Posted on 08/11/2006

Ras al-Khaimah's economy has made a significant jump in terms of growth with the emirate's gross domestic product (GDP) rising by 18 per cent to Dh9.252 billion in 2005 compared with Dh7.834 million in 2004, according to a special report issued by the Ras Al Khaimah Economic Department on Monday. The report showed that Ras Al Khaimah's economy depended significantly on the wholesale and retail trade, which claimed 16 per cent, followed by government spending at 14 per cent of the emirates ... >>MORE

UAE GDP will grow by 23% this year: Economy Minister

Posted on 02/11/2006

Sheikha Lubna Bint Khalid Al Qasimi, Minister of Economy, has anticipated that this year's Gross Domestic Product (GDP) of the UAE will jump by 23 per cent to touch Dh 597 billion at current prices compared to figures recorded in 2005. She estimated that local investment would grow by 24.9 per cent to reach Dh 117 billion given the volume of projects under construction around the country, which include roads, airport expansions and other development activities. The minister said non-oil ... >>MORE

UAE's GDP to grow 24 per cent

Posted on 25/09/2006 The UAE's nominal gross domestic product is expected to grow by 24 per cent to US$161.3 billion (Dh592 billion) this year compared with US$129.8 billion (Dh476.4 billion in 2005, according to a report issued recently by the National Bank of Abu Dhabi. The nominal gross domestic product is likely to grow by up to 10.4 per cent to US$178 billion (Dh653.3 billion) by next year, the report said. According to the report, the assets of the UAE banking sector is estimated at US$194 billion (Dh712 .