Media ININ Economy We Trust
Media In – Abu Dhabi 2 May 2018 / WAM /
Abu Dhabi’s gross domestic product jumped at current prices to AED 832.5 billion in 2017, an increase of 9.5 per cent compared to AED 760.4 billion in 2016, reflecting the continued growth of the emirate’s economy and the national economy of the country in general.
The figures released by the Abu Dhabi Statistics Center on the movement of gross domestic product have revealed that the emirate is achieving more success in the policy of economic diversification, which is in line with the strategy of the local government and the state.
According to the figures, the value added of non-oil activities in the gross domestic product of the Emirate of Abu Dhabi amounted to about 533.6 billion dirhams, or 64.1% of the gross domestic product recorded at the end of 2017.
The contribution of oil activities to GDP reached AED 298.8 billion, representing 35.9% of the total output during the previous year.
Economists predict that the contribution of oil activities to the gross domestic product of Abu Dhabi and the UAE will continue to decline in the coming years, supported by the steady growth of the economic sectors that constitute the economic diversification tools of the post-oil era.
The emirate’s gross domestic product (GDP) at current prices showed that the first quarter of 2017 was the most active, with a growth rate of 19.4% compared to the same quarter of 2016.
In the second quarter of last year, the GDP growth rate of the Emirate was 5.8%, while it reached 5.7% in the third quarter of the same year before it jumped again to 8.1% in the fourth quarter of the year
