Home GCC UAE Non-oil contribution to UAE’s GDP reaches 72.3% in 2021 The non-oil contribution to the country’s GDP in 2020 stood at 71.3 per cent by Varun Godinho April 19, 2022 The contribution of the non-oil sector to the UAE’s GDP amounted to 72.3 per cent in 2021, up from 71.3 per cent in the previous year. The latest figures were shared as a result of data compiled by the Federal Competitiveness and Statistics Center, state news agency WAM reported on Monday. The hotels and restaurants, wholesale and retail, and health and social services sectors contributed 21.3 per cent, 14.1 per cent and 13.8 per cent respectively to the country’s GDP in 2021. Earlier this month, it was reported that the UAE’s overall GDP for 2021 at constant prices increased 3.8 per cent. Its GDP was recorded at Dhs1.489tn, with the growth rate exceeding the estimates of international institutions, which earlier forecasted a growth of 2.1 per cent for 2021. Read: UAE’s GDP grows 3.8 per cent in 2021, beating international expectations The UAE’s non-oil foreign trade in 2021 amounted to nearly Dhs1.9tn, amounting to a 27 per cent growth compared to 2020, and 11 per cent over 2019. The value of national non-oil exports amounted to about Dhs354bn, a growth of 33.3 per cent as compared to 2020 and 47.3 per cent as compared to 2019. China ranked first as the country’s largest trading partner in 2021, accounting for 11.7 per cent of the UAE’s total foreign trade. India ranked second, accounting for 8.7 per cent of the country’s total non-oil trade, with a value of Dhs164.4bn, followed by Saudi Arabia with a contribution of 6.6 per cent and a value of Dhs125bn during 2021, achieving a growth of 20 per cent compared to 2020 and 10.1 per cent compared to 2019. Read more: UAE’s non-oil foreign trade rises 27% in 2021 Individual emirates within the UAE, such as Abu Dhabi, have indicated a rise in the contribution of the non-oil economy to its GDP. Abu Dhabi’s GDP at constant prices grew 1.9 per cent in 2021 compared with 2020, while its non-oil GDP at constant prices grew by 4.1 per cent. Non-oil activities contributed 49.7 per cent of Abu Dhabi’s GDP at constant prices last year. Read also: Abu Dhabi’s non-oil real GDP grew 4.1% in 2021 Tags Economy GDP News UAE 0 Comments You might also like Real estate: Emirates REIT property income hits a record $74m in FY2023 Alpha Dhabi to divest 49% stake in construction firm to ADQ How to claim insurance due to rain damage: Understanding ‘force majeure’ clause Dubai-based Telegram to hit 1 billion users, says founder