96% increase in the number of commercial licenses in Abu Dhabi within 3 months

MEDIA IN-ABU DHABI, July 10, 2018 (WAM)
The total number of commercial licenses in the Emirate of Abu Dhabi jumped to 46993 at the end of the first quarter of 2018, an increase of 96% compared to 23981 in the same quarter of 2017, according to the latest official statistics.
The growth in Abu Dhabi in terms of the number of commercial licenses during the first three months of this year is the highest in several years, reflecting the extent of the development of commercial activities of different categories in the emirate.
The strong growth in commercial licenses coincided with the continued increase in the GDP of the Emirate, which reached 8.9% during the first quarter of this year, reaching AED 223.58 billion compared to AED 205.31 billion in the same quarter of 2017.
In terms of gross domestic product (GDP) at constant prices, it increased from AED 196.6 billion in the first quarter of 2017 to AED 196.8 billion in the first quarter of 2018.
Economic experts said that Abu Dhabi’s economic and trade activity has continued since the beginning of this year and reflects the strength of the economy despite the slowdown in the economic situation in the world in general, and they believe that growth will continue in the coming period at a good rate.
The number of commercial licenses registered in the first quarter of this year constitutes 51.2% of the total number of licenses registered throughout 2017 in Abu Dhabi Emirate, reflecting an increase in license activity during the coming period of 2018