Media ININ Economy We Trust
Media In / WAM April 21, 2018
The Dubai Statistics Center (DSC) pointed out that Dubai’s economy continued to grow during 2017 compared to 2016, with real GDP at constant prices of AED 389 billion compared to AED 379 billion for 2016.
The growth was driven by the performance of the strategic sectors, which contributed 72.2 percent of the total economic growth achieved in 2017. Among them, in terms of contribution to growth, the transport and storage activity contributed 18.5 percent of the total economic growth achieved to outperform the largest activity in the emirate’s economy. Which contributed to the economic growth achieved by 8.3% and defines the real GDP / constant prices / of the emirate as the total value added of all economic activities that are practiced within the boundaries of the Emirate of Dubai after removing the impact of price inflation.
Arif Al Muhairi, Executive Director of the Dubai Statistics Center, said that Dubai’s growth in light of regional and global economic challenges underscores the resilience of the emirate’s economy, supported by advanced policies and legislation that enable the business sector to adapt to the various external economic challenges and influences.
Al-Muhairi pointed out that the wholesale and retail trade activity, as usual, contributed to 26.6 percent of the gross domestic product (GDP) with a growth rate of 0.9 percent with an added value of 103.6 billion dirhams, contributing 8.3 percent to the overall economic growth. Accompanied by growth in foreign trade. Total imports and re-exports grew by 2.2 percent during 2017 compared to 2016. Al-Muhairi pointed out that growth in total imports and re-exports was due to growth in industrial inputs and capital goods, The growth rate of foreign trade is 1.8, 1.6 percentage points respectively, which confirms the vital role of the Emirate of Dubai in supporting trade between the region and the rest of the world and strengthens the trade sector in the emirate.
The infrastructure that supports aviation and air transport services in Dubai is the best in the world, which in turn has contributed to the promotion of tourism activity in the emirate in particular and in the country in general and explained Muhairi that the data confirms that the national carriers: “Emirates” and flydubai ” The largest proportion of passengers through Dubai airports.
Al-Muhairi said that the manufacturing activity achieved an improvement in its performance. This activity contributed 9.4% of the real GDP with an added value of AED 36.8 billion in 2017 compared to AED 36.1 billion in 2016 with a growth rate of 2% The industry has played a key role in achieving growth and sustainability in the emirate’s economy. The government has given special importance to the launch of Dubai Industrial 2030 strategy to ensure sustainable growth in the emirate that enhances social well-being. Some of the industries in the emirate of Dubai are classified as one of the world’s leading and competitive industries such as the aluminum and cable industry as well as many other industries.
