Media ININ Economy We Trust
MEDIA IN, Abu Dhabi, July 26, 2018 (WAM)
The UAE economy achieved 8 gains as a result of the policy of diversifying the resources of the national economy by the end of 2017 according to the monitoring of the movement of sector indicators that formed the main nerve of this rational approach aimed at preparing for the post-oil era.
The list of sectors – which contributed to the increase of the country’s gains in terms of economic diversification – included the manufacturing industries in addition to the knowledge industries, the aerospace industry, transport, storage, financial services, tourism, new and renewable energy and other sectors.
Economists agree that the development of these sectors has played an important role in providing the suitable environment for attracting foreign direct investment and promoting innovation at all levels. This development is a catalyst for establishing industrial zones and free zones, forming partnerships with multinational companies and developing legislative and regulatory structures. generally.
And detailed .. The digital reading of the list of gains achieved by the UAE as a result of diversification of the economic base to the evolution of gross domestic product at current prices from 58.3 billion dirhams in 1975 to 1.405 trillion dirhams in 2017. The contribution of non-oil sectors in the current output increased to 1.092 trillion dirhams compared to 25 Billion during the same monitoring period.On the level of gross domestic product at constant prices, it increased from 77.5 billion dirhams in 1975 to 1.422 trillion dirhams in 2017. Non-oil sectors’ contribution in fixed prices increased from 32.2 billion dirhams to 1.003 trillion dirhams during the same period.
The contribution of the non-oil sectors in the gross output to fixed prices increased to 70.5% in 2017 from 41.5% in 1975. In contrast, the contribution of the oil sectors to the gross output decreased at constant prices from 58.5% in 1975 to 29.5% in 2017.
