Media ININ Economy We Trust
02-04-2019 Media in \Abu Dhabi
The gross domestic product of the Emirate of Abu Dhabi rose to AED 931.2 billion at current prices during the year 2018 with a growth of 14.5% compared to AED 813.6 billion in 2017.
Statistics from the Abu Dhabi Statistics Center showed that the emirate’s GDP at constant prices reached AED 797.3 billion in 2018, an increase of almost 2% compared to 782 billion dirhams in 2017.
GDP at current prices measures the value of goods and services produced by the economy at the prices of the same period, ie, the value of production over a given period of time minus the value of inputs of production of goods and services used as input to the production process. Economy, where the effect of price changes is eliminated.
On a quarterly basis, GDP at current prices of Abu Dhabi increased by 12.9% during the fourth quarter of 2018 compared to the fourth quarter of 2017, while GDP in 2007 fixed prices rose by 3.7% during the same period.
The changes in the GDP of oil and non-oil at current prices during the fourth quarter of 2018 compared to the fourth quarter of 2017 as a result of the increase in the value added of non-oil activities by 1.6% and increase the value added of oil activities by 33%.
Gross Domestic Product (GDP) at constant prices rose by 3.7% during the last quarter of 2018 compared to the same quarter of 2017. The growth was supported by a rise in the value added of non-oil activities by 8.9% compared to the decrease of oil activities by 1.1%.
In any case, the contribution of non-oil activities to the GDP of the Emirate reached 57.7% during the last quarter of last year compared to the same quarter of 2017.
At the sector level, the value added at current prices of the non-financial sector increased from AED 178.62 billion during the last quarter of 2017 to 2014.2 billion dirhams in the fourth quarter of 2018 with a growth of 14.3%. The contribution of the sector to the emirate’s GDP increased from 83% in the last quarter of 2017 to 84% at the end of the same quarter last year.
The value added of the financial sector at current prices reached 20.6 billion dirhams in the last quarter of 2018 compared to 18.9 billion dirhams in the same quarter of 2017. Thus, its contribution to GDP reached 8.5% last year.
The value added of the general government sector increased from AED 16.2 billion during the last quarter of 2017 to AED 16.5 billion in the same quarter of 2018. The contribution of the sector to the GDP of the Emirate was 6.8%.
In the household sector, the value added of the sector increased from AED 1.43 billion during the last quarter of 2017 to AED 1.55 billion during the last quarter of 2018. The contribution of the sector to GDP reached 6%.
