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THE ECONOMY - GROSS DOMESTIC PRODUCT, GDP

U.A.E.’s GDP to grow 4.2% in 2014 and 4.5% in 2015, total exports to increase 6% this year – Euler Hermes report

Posted on 28/10/2014

Thanks to the U.A.E.'s strong logistics and infrastructures, the U.A.E.'s GDP is expected to grow at 4.2% in 2014 and 4.5% in 2015, while the country's exports are expected to grow 6% in 2014 from US$379 billion in 2013. This is according to a report by Euler Hermes, the leading trade credit insurance provider in the world, and also the headline sponsors of the 2nd Annual Trade Credit Insurance Summit, being held at the Address Hotel, Dubai Mall from 27th-29th October. Since 2007, Euler Hermes ...  >>MORE

RAK's GDP at Dh30.9 billion in 2013: Report

Posted on 10/10/2014

The Emirate of Ras Al Khaimah's Gross Domestic Product (GDP) grew in 2013 to Dh 30.9 billion from Dh 24.1 billion in 2012, according to the emirate's Statistical Year Book 2014 released by the Department of Economic Development (RAK DED). data showed that Gross fixed capital formation (GFCF) rose to Dh 6.9 bn in 2013 from Dh 6.7 bn in the previous year. The emirate's population were estimated at 438,000. Ahmed Obeid Al Tunaiji, acting Director General of RAK DED, said the Statistical Book ...  >>MORE

Thriving aviation sector to contribute 32 percent to Dubai’s GDP by 2020

Posted on 04/08/2014

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman of Emirates Group, has said that completion of the runway refurbishment at Dubai International Airport will bring in a significant surge in air traffic. Speaking in a message published in the August edition of Via Dubai, the official bi-lingual newsletter of Dubai Civil Aviation Authority, H.H. Sheikh Ahmed said, "Flight operations at the Dubai International Airport were ...  >>MORE

Dubai’s GDP grew 4.6% 2013, as per Statistics Centre

Posted on 19/06/2014

Dubai's economy expanded 4.6 per cent year on year in 2013, up from 4.1 per cent in 2012 according to Dubai Statistics Centre (DSC). The DSC report showed that the fastest growing sector in Dubai last year was once again hospitality, which recorded 13 per cent growth, the third consecutive year of double-digit growth in this sector. This was followed by manufacturing sector which grew 8.1 per cent year on year, social and personal services with 6.8 per cent growth and transport, storage and ...  >>MORE

Dubai to sustain 5% GDP growth in 2014, says DSC

Posted on 06/05/2014

Billions of dollars worth of realty projects to support economy Dubai's economy is expected to grow around five per cent this year, a similar pace to 2013, the head of its statistics office said on Monday. Growth in the Gulf emirate, the region's trade and business hub, picked up strongly last year, buoyed by the prospect of government real estate projects worth tens of billions of dollars. "It is expected that growth... will reach around five per cent in 2013,” executive director Arif ...  >>MORE

SCAD: Dh953.2 billion GDP estimates at current 2013 prices

Posted on 18/03/2014

The Statistics Centre-Abu Dhabi (SCAD) announced yesterday during a press conference held at the Abu Dhabi Economic Media Club, the final results and economic surveys for 2012, which computed the GDP for the Emirate of Abu Dhabi, and GDP estimates for 2013. The Conference was attended by Mr. Nasser Dayan, Director of Economic Statistics Department, Dr. Mohammed Al Dhaheri, Director of Field Surveys, Ms. Shamma Al Rumaithi, Director of National Accounts, and Mr. Osama Al Zugbi, Assistant ...  >>MORE

Abu Dhabi's GDP up 5.6% in 2012

Posted on 12/01/2014

GDP in current prices rises 7.7% but was fraction of the 32% surge in 2011 Abu Dhabi's real GDP grew by around 5.6 per cent in 2012 due to strong performance of the non-hydrocarbon sector, but it was below the 9.3 per cent growth achieved in 2011, official data showed on Sunday. The emirate's GDP, which accounts for more than two thirds of the UAE economy, also swelled by 7.7 per cent in current prices in 2012, less than a fourth of the growth rate recorded in 2011 when it stood at 32 per ...  >>MORE

UAE GDP to gain over US$11bn in 2013

Posted on 22/10/2013

The UAE's nominal GDP is expected to gain more than US$11 billion in 2013 to peak at an all-time high before hitting another record of more than US$400bn for the first time in 2014, according to a Saudi bank. Real GDP is also projected to perform well through those years, with growth of about 3.5 per cent in 2013 and 3.4 per cent in 2014, the Saudi American Bank group (Samba) said in its quarterly bulletin. Real growth will be driven mainly by expansion in the non-hydrocarbon sector as the ...  >>MORE

UAE's GDP growth forecast at almost 4 per cent

Posted on 25/09/2013

A new forecast has pegged UAE's GDP growth at 3.9 per cent, reinforcing the strong sentiment that the economic recovery in the emirates is well underway. The forecast is put out in the latest Bloomberg Middle East Economic Survey, which is based on a median estimate of 18 economists. The new estimate is a revision of a 3.4 per cent forecast in the previous quarter and the biggest revision among Gulf Cooperation Council (GCC) countries in the report. Sultan Al Mansoori, UAE Minister for ...  >>MORE

UAE real GDP exceeds Dh1trn for first time

Posted on 05/08/2013

The UAE real GDP grew by around 4.4 per cent in 2012 to jump above Dh1 trillion for the first time since the country was founded more than 40 years ago. Official data showed real GDP stood at around Dh1.02 trillion and the non-oil sector accounted for more than two thirds of the economy. In current prices, GDP surged by about 10 per cent, fuelled by a sharp rise in oil prices which hit their highest average, the figures showed. "Real GDP expanded by around 4.4 per cent in 2012 to reach ...  >>MORE

UAE GDP set to grow by up to 3.6%

Posted on 31/07/2013

A recent report by the International Monetary Fund has confirmed the robust economic performance of the UAE. According to the report, the UAE gross domestic product (GDP) is expected to grow by up to 3.6 per cent this year, while the non-oil domestic product is likely to grow by up to 4.3 per cent compared with 3.8 per cent last year. The report said that the IMF has positive expectations as regards the performance of the UAE economy in the medium and long terms, adding that the risks of ...  >>MORE

Dubai's GDP sharply up by 4.7% in Q2

Posted on 21/07/2013

Dubai's economy continued its post-crisis recovery and expanded by around 4.7 per cent in the second quarter of 2013, driven by strong performance in trade and most non-hydrocarbon sectors, according to official data. The emirate's real GDP grew by 4.1 per cent in the first quarter before picking up in the second quarter, indicating a steady recovery following a slowdown in the wake of the 2008 global financial distress that hit most world economies, the government said in its latest report ...  >>MORE

Dubai’s GDP grew 5.3% in Q4 of 2012

Posted on 30/06/2013

The real gross domestic product (GDP) of Dubai during the fourth quarter of 2012 increased by 5.3 per cent relative to the fourth quarter of 2011. This growth reflects the outcome of the growth of the two key sectors in Dubai: construction and manufacturing, in addition to transport and storage, wholesale and retail trade, real estate, and the financial sector, which altogether contributed to about 90 per cent of Dubai's GDP, said a recent report from Dubai Economic Council. On the ...  >>MORE

Abu Dhabi's GDP at current prices above Dh900 billion in 2012

Posted on 20/06/2013

Abu Dhabi's GDP at current prices reached a record Dh911.591 billion in 2012, up from Dh846.684 billion in 2011, marking an annual growth of 7.7 percent, according to a report released by Statistics Centre - Abu Dhabi (SCAD). The preliminary data, announced by the centre in a press release yesterday, also indicate a rise in the annual growth rate of non-oil sectors to 9.6 percent, surpassing all earlier forecasts and estimates in this regard. These results underline the robustness, stability ...  >>MORE

UAE ranks 28th worldwide in GDP

Posted on 18/06/2013

The UAE has ranked 28th worldwide among the largest economies of the world in terms of gross domestic product (GDP), according to the World Bank data. By this, the UAE has the second largest Arab and regional economy after Saudi Arabia, which ranked 20th worldwide. According to the World Bank's estimates, the UAE's gross domestic product stood at US$360.25 billion (Dhs1.32 trillion), based on 2011 data adopted by the World Bank for evaluating the largest economy in the world. The US topped ...  >>MORE

Dubai’s GDP climbs 4.4%

Posted on 13/06/2013

Dubai's economy continued to record strong recovery in 2012 as its gross domestic product jumped 4.4 per cent, the highest growth since 2009, the government's statistics centre said on Tuesday. In value terms, the emirate's real GDP grew to Dh318.4 billion compared to Dh304.9 billion in 2011, indicating an increase of Dh13.4 billion to Dubai's economy last year. The emirate's GDP accelerated to 5.3 per cent year-on-year in the last quarter of 2012, according to the Dubai Statistics Centre. ...  >>MORE

UAE’s GDP to top $395b this year

Posted on 15/05/2013

The UAE's gross domestic product (GDP) will touch $395 billion (Dh1.45 trillion) this year, before growing further to $410 billion next year, Sultan bin Saeed Al Mansouri, the Minister of Economy, said in his keynote address on Tuesday at the 6th Annual Arabian World Construction Summit in the capital. Al Mansouri said the country's GDP has grown more than 200 times since 1971 — from $1.77 billion to $360 billion in 2012. "Today, the UAE is a major contributor to the growth of the Middle East ...  >>MORE

IIF projects 3.6% UAE GDP growth in 2013

Posted on 14/05/2013

The UAE's economic growth is projected to moderate to 3.6 per cent in 2013 from an estimated growth of 4.8 per cent last year, forecasts by Institute of International Finance (IIF), the Washington-based global association of financial services firms with more than 470 member institutions showed. According to the latest forecast from IIF, the whole of the GCC region is expected to witness a lull in growth to 3.8 per cent in 2013 compared to an average estimated growth of 5.8 per cent in 2012 ...  >>MORE

Al Gharbia's GDP projected to reach more than Dh500 billion in 2030

Posted on 28/03/2013

Abu Dhabi's Western Region is poised to become the UAE's next development hotspot, with economic output expected to reach more than Dh 500 billion in 2030 according to the Al Gharbia Investment Roadmap. The projected rise in the region's GDP, up from just Dh243 billion in 2010, will largely be driven by an estimated Dh240 billion worth of projects invested in key economic sectors such Oil '&' Gas (Dh120 billion), Power Generation (Dh62 billion), Infrastructure and Transportation (Dh54 billion) ...  >>MORE

Dubai sees 2013 GDP growth above 4%

Posted on 06/03/2013

Dubai, owner of the world's biggest airline by international traffic, expects the economy to expand at a "relatively high rate” in 2013, driven by a tourism boom, a senior government official said. Gross domestic product may grow more than 4 percent this year, Sami Al Qamzi, director general of Dubai Department of Economic Development, said in an e-mailed answer to questions. Figures for the first six months of 2012 point to growth of 4.1 per cent for the full year, he said. "Hotel occupancy ...  >>MORE

Dubai’s GDP to sustain growth target

Posted on 05/02/2013

The economy of Dubai looks set to sustain its growth momentum with investor confidence on the return and increasing activity across core sectors such as trade, tourism, manufacturing and even real estate as reflected in the overall business sentiment in the emirate. The composite Business Confidence Index for Dubai reached 135.9 points in the last quarter of 2012, a 10.8 per cent increase compared to the previous quarter and a two per cent growth from the same quarter of 2011. Optimism was ...  >>MORE

Contribution of extractive industries to Abu Dhabi's GDP amounted to 5% in 2011

Posted on 02/01/2013

The Value added to the activity of the extractive industry achieved a remarkable increase, from Dh 291.5 billion in 2006 to Dh 471.8 billion in 2011 at an annual growth rate of 10.1% on average during the period 2006-2011, while the growth rate of the value added to the activity reached 53% in 2011. This dramatic rise was attributed mainly to the increase in oil prices and oil production, according to Chapter IV of Productive Activities of Abu Dhabi Economic Report 2011 issued by the emirate's ...  >>MORE

UAE GDP set to grow by 4 per cent

Posted on 27/12/2012

The UAE's real gross domestic product (GDP) is expected to grow by an average of 3.5 per cent this year and 4 per cent next year compared with 4.9 per cent in 2011 and 3.2 per cent in 2010, according to a recent report by the World Bank. The UAE is slated to register a financial surplus of up to 5 per cent of the GDP this year, the bank said, adding that the surplus is expected to rise by 7 per cent of the GDP in 2013. According to the bank's estimates, the financial surplus of the UAE touched ...  >>MORE

Dubai’s 2011 GDP growth surges to 3.4%

Posted on 27/12/2012

An economic report issued on Wednesday shows that Dubai's economy has recorded steady growth over the past two years with an increase in the GDP growth rate from 2.8 per cent in 2010 to 3.4 per cent in 2011 versus a contraction of 2.4 per cent in 2009. This rebound in economic growth was largely due to fiscal and monetary stimulus packages undertaken by the UAE federal authorities as well as the Government of Dubai. Moreover, the resilience of Dubai's major trade partners, especially India ...  >>MORE

UAE GDP growth to hit 4.5% in 2012

Posted on 10/12/2012

The UAE's gross domestic product (GDP) growth is expected to reach 4.5 per cent by the end of the current year, surpassing last year's estimates of 4.1 percent, the Ministry of Economy said. The latest projection for the country's economic growth in 2012 is in line with the estimates of the UAE central bank, which, in September, had forecast that the country's economic growth this year may better the International Monetary Fund's (IMF) UAE GDP growth estimates of 3.5 per cent, Gulf News ...  >>MORE

Abu Dhabi’s GDP estimated to grow at 5.7% between 2013-2016

Posted on 20/11/2012

The emirate of Abu Dhabi's gross domestic product (GDP) is estimated to grow at an average annual rate of 5.7 per cent between 2013-2016, Mohammad Omar Abdullah, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED) said here yesterday. Speaking at the annual Abu Dhabi Conference organised by MEED in the capital, Abdullah said the estimate for the oil-rich emirate's GDP growth during this fiscal year is 3.9 per cent. "Forecasts for non-oil GDP reflect an average growth ...  >>MORE

Abu Dhabi may beat 2012 GDP growth forecast

Posted on 23/10/2012

Abu Dhabi's economic growth this year will probably beat the government's estimates as non-oil industries in the emirate expand, the Department for Economic Development said. "I expect it will be better than 3.9 per cent,” Undersecretary Mohamed Omar Abdulla said in an interview. "We encourage banks to go for productive activity to encourage the manufacturing and industry sectors.” The Abu Dhabi government, which runs one of the world's richest sovereign wealth funds is seeking to bolster ...  >>MORE

Abu Dhabi's GDP grows 6.8 percent in real terms in 2011: SCAD

Posted on 15/10/2012

Statistics Centre - Abu Dhabi (SCAD) released yesterday preliminary data that Abu Dhabi GDP at constant prices grew from Dh 567.8 billion in 2007 to Dh 606.6 billion in 2011, achieving an annual growth rate of 6.8 percent. These results demonstrate that the emirate's economy has bounced to levels above those that dominated prior to the global financial crisis, giving it a huge competitive advantage and boosting its appeal to local and foreign investors. The report shows the first figures of ...  >>MORE

Central Bank estimates UAE 2012 GDP growth to top 3.5%

Posted on 11/09/2012

The UAE's economic growth this year may better the International Monetary Fund's (IMF) gross domestic product (GDP) growth estimates of 3.5 per cent for the country, the Central Bank said yesterday in its first-ever Financial Stability Review. Citing reasons for its optimism, the apex bank said: "Dubai may achieve 4 per cent growth or more as it was stated in the Dubai Economic Outlook for the year 2012; an equally high growth is expected in the emirate of Abu Dhabi following the recent ...  >>MORE

UAE GDP to grow 3.1% in 2012

Posted on 09/09/2012

The UAE's real GDP is projected to expand by around 3.1 per cent in 2012, driven by strong performance in both the hydrocarbon and non-oil sectors, according to Saudi Arabia's largest bank. Growth in 2012 will be below the 4.9 per cent GDP rise in 2011, when average oil prices climbed to a record high of more than US$105 a barrel and the UAE pumped at one of its highest crude output levels. Forecasts by National Commercial Bank (NCB) showed the UAE's GDP, the second largest in the Arab world ...  >>MORE

UAE GDP to pick up in 2012

Posted on 27/08/2012

The UAE's real economy expanded by around 3.2 per cent in 2011 mainly because of higher oil prices and production and is projected to pick up by about 3.5 per cent in 2012, according to a UN group. The other members of the six-nation Gulf Cooperation Council (GCC) are also expected to record strong GDP performance through 2012 in contrast with other Arab nations which have been hit by political unrest, the UN Economic and Social Commission for Western Asia (Escwa) said in a report. It showed ...  >>MORE

Abu Dhabi's GDP at current prices above Dh800 billion, says SCAD

Posted on 08/07/2012

The Statistics Centre - Abu Dhabi (SCAD) on Saturday released preliminary figures shedding light on the key developments in Abu Dhabi economy over the last year. These are the first detailed figures confirming that the Emirate's economy has evidently overcome the repercussions of the global financial crises, posting significant growth all activities and sectors, both oil and non-oil. Growth in the GDP at current prices during 2011 surpassed all the forecasts and estimates made by local and ...  >>MORE

UAE GDP up US$62 billion in 2011: IMF

Posted on 20/05/2012

Strong crude prices allied with high oil production by the UAE to boost its nominal gross domestic product by nearly US$62 billion in 2011 and allow it to maintain its position as the second largest Arab economy. Oil prices averaged a record high of nearly US$110 in 2011 while the UAE pumped around 2.6 million barrels per day, one of its highest crude production levels since it began exporting oil five decades ago. Given its heavy reliance on oil exports, higher prices and output expanded ...  >>MORE

Abu Dhabi private sector at third of GDP

Posted on 16/04/2012

Abu Dhabi's private sector has steadily grown over the past years to reach nearly a third of the emirate's GDP and largely surpass the government sector. Figures by the Abu Dhabi Chamber of Commerce and Industry showed the private sector would grow by around 6.4 per cent in 2012 while the non-oil government is projected to expand by 5.5 per cent. The private sector's contribution to GDP was estimated at around Dh218 billion in 2011 and is forecast to climb to Dh232 billion in 2012, the ...  >>MORE

UAE GDP to climb to US$358 billion in 2012

Posted on 04/04/2012

The UAE's GDP will climb to its highest level of around US$385 billion in current prices in 2012 to maintain its position as the largest Arab economy after Saudi Arabia, regional data showed on Wednesday. At that level, the UAE will account for more than a fifth of the combined GDP of the six-nation Gulf Cooperation Council (GCC), forecast at around US$1.46 trillion this year, its highest ever, the Saudi-based Federation of GCC chambers of commerce and industry (FGCCI) said in a report, ...  >>MORE

UAE GDP grew by almost 5% in 2011: IMF

Posted on 15/03/2012

The UAE economy swelled by 4.9 per cent in 2011 to surpass earlier expectations due to higher oil output and expansion in the non-hydrocarbon sector, according to the IMF. Real GDP growth is projected to moderate to 2.5 per cent this year but non-hydrocarbon growth will remain strong, said Harald Finger, who led an IMF mission to the UAE during February 28-March 14 to conduct discussions for the Article IV consultation with the country. The mission met with Minister of State for Financial ...  >>MORE

Dubai GDP to grow by 5% in 2012

Posted on 16/02/2012

Dubai's GDP is expected to grow between 4.5 and five per cent in 2012, Sheikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, said at the Dubai Economic Outlook 2012 conference yesterday. "In spite of the difficulties Dubai has experienced, particularly in 2009 and early 2010, its strategy of creating new opportunities through diversification has succeeded in bringing about economic prosperity and stability," he said. Sheikh Ahmad said Dubai's economy returned ...  >>MORE

Dubai's GDP forecast to grow 4.1% in first quarter

Posted on 24/01/2012

Dubai's GDP is expected to grow 4.1 per cent in the first quarter of this year, according to the Dubai Economic Outlook 2011 report released by the Dubai Economic Council yesterday. However, the report also suggested that GDP growth might decline as the year wears on. Abdul Razak Al Faris, chief economist and CEO of research at the Dubai Economic Council, said any such decline would be brought on by an economic slowdown in Dubai's trade partners such as the EU members, China, India and other ...  >>MORE

Abu Dhabi GDP expected to grow 4% in 2012

Posted on 27/12/2011

The gross domestic product (GDP) of the emirate is expected to grow 4 per cent to Dh750 billion next year, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) said yesterday. The contribution of oil industry revenues to GDP is expected to rise to Dh385 billion in 2012 from Dh347 billion in 2011. Of the projection for oil-based revenue in 2012, crude oil accounts for Dh345 billion, compared with Dh309 billion in 2011. Refining and gas liquefaction will account for the remaining Dh40 ...  >>MORE

UAE GDP to peak at Dh1.248 trillion in 2011

Posted on 18/12/2011

The UAE's GDP is expected to peak at Dh1.248 trillion in current prices this year to maintain its position as the largest in the Arab world after Saudi Arabia's economy, according to an official study. The expected level this year will be nearly 198 times the country's nominal gross domestic product of Dh6.5 billion when it was established in 1971, the Dubai Economic Council said in the study, dubbed "the document of the union era.” Real GDP is forecast to grow by around 3.3 per cent in ...  >>MORE

Non-oil input to Abu Dhabi GDP growing

Posted on 20/11/2011

Abu Dhabi's oil-dependent economy is diversifying fast as the share of its non-oil sector has grown for the second year in a row. In 2010, oil contribution to gross domestic product, or GDP, was 49.7 per cent as the emirate is on the right track towards achieving sustainable development, said Nasser Ahmed Al Suwaidi, chairman of the Abu Dhabi Department of Economic Development. He said Abu Dhabi has come a long way in diversifying the economic base in a manner consistent with the goals of ...  >>MORE

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U.A.E.’s GDP to grow 4.2% in 2014 and 4.5% in 2015, total exports to increase 6% this year – Euler Hermes report


RAK's GDP at Dh30.9 billion in 2013: Report


Thriving aviation sector to contribute 32 percent to Dubai’s GDP by 2020


Dubai’s GDP grew 4.6% 2013, as per Statistics Centre


Dubai to sustain 5% GDP growth in 2014, says DSC


SCAD: Dh953.2 billion GDP estimates at current 2013 prices


Abu Dhabi's GDP up 5.6% in 2012


UAE GDP to gain over US$11bn in 2013


UAE's GDP growth forecast at almost 4 per cent


UAE real GDP exceeds Dh1trn for first time


UAE GDP set to grow by up to 3.6%


Dubai's GDP sharply up by 4.7% in Q2


Dubai’s GDP grew 5.3% in Q4 of 2012


Abu Dhabi's GDP at current prices above Dh900 billion in 2012


UAE ranks 28th worldwide in GDP


Dubai’s GDP climbs 4.4%


UAE’s GDP to top $395b this year


IIF projects 3.6% UAE GDP growth in 2013


Al Gharbia's GDP projected to reach more than Dh500 billion in 2030


Dubai sees 2013 GDP growth above 4%


Dubai’s GDP to sustain growth target


Contribution of extractive industries to Abu Dhabi's GDP amounted to 5% in 2011


UAE GDP set to grow by 4 per cent


Dubai’s 2011 GDP growth surges to 3.4%


UAE GDP growth to hit 4.5% in 2012


Abu Dhabi’s GDP estimated to grow at 5.7% between 2013-2016


Abu Dhabi may beat 2012 GDP growth forecast


Abu Dhabi's GDP grows 6.8 percent in real terms in 2011: SCAD


Central Bank estimates UAE 2012 GDP growth to top 3.5%


UAE GDP to grow 3.1% in 2012


UAE GDP to pick up in 2012


Abu Dhabi's GDP at current prices above Dh800 billion, says SCAD


UAE GDP up US$62 billion in 2011: IMF


Abu Dhabi private sector at third of GDP


UAE GDP to climb to US$358 billion in 2012


UAE GDP grew by almost 5% in 2011: IMF


Dubai GDP to grow by 5% in 2012


Dubai's GDP forecast to grow 4.1% in first quarter


Abu Dhabi GDP expected to grow 4% in 2012


UAE GDP to peak at Dh1.248 trillion in 2011


Non-oil input to Abu Dhabi GDP growing