The sector’s ongoing contributions to Abu Dhabi’s GDP were shared by ADDED and ADIO at the second edition of their Al Multaqa meeting held recently
The Central Bank’s report underscores the UAE’s resilience and positive economic trajectory, fueled by strong performance across various sectors
IMF revised its GDP growth forecast for the Middle East and North Africa region downwards to 2.9 per cent this year
The preliminary data shows that Saudi Arabia’s economy contracted at a slower pace in Q4 2023 after a decline of 4.4 per cent in the previous quarter
Growth in Saudi Arabia is projected to grow by 4.1 per cent this year, rising to 4.2 per cent next year
The Sultanate of Oman is expecting a budget deficit for the year, after it swinging away from a surplus during 2023
The financial and insurance sector grew by 14.4 per cent YoY and the value-added by the industry surged to Dhs18.7bn
The apex lender projected that the country’s overall GDP will grow by 3.1 per cent in 2023
According to the IMF, the Saudi economy was the fastest growing among the Group of Twenty (G20) member states in 2022
The country’s non-oil economy is projected to grow by a robust 4.5 per cent this year
The economic growth was boosted by a 4.6 per cent gain in the non-hydrocarbon sector and a 3.5 per cent increase in oil activities.
The city’s growth in the first quarter of 2023 significantly outpaced the growth rates of some of the most developed nations worldwide
The country’s non-oil activities grew by 4.5 per cent year-on-year in the quarter to Dhs312bn
According to SCAD estimates, Abu Dhabi’s non-oil GDP (at constant prices) surpassed the highest quarterly value of the past nine years, reaching Dhs146bn in Q1 2023
The statistics authority attributed the growth of the economy to innovative economic initiatives related to non-oil sectors and activities
The city’s non-oil sectors witnessed significant growth of Dhs43bn in 2022 and contributed 50 per cent to the overall GDP
The country’s non-oil sector grew by 6.2 per cent in 2022, the highest growth rate recorded over the past ten years
The country’s GDP crossed the $1tn mark for the first time in 2022 as higher oil prices boosted government revenues
Non-oil sectors contributed 50.3 per cent to the GDP, with an increase of Dhs39bn compared to the same period in 2021 to reach Dhs417.3bn in total by the end of Q3 2022
The rise in GDP growth in 2022 is supported by increased oil production, high oil prices, and sustained improvement in domestic demand
The review expected the non-oil GDP to grow by 6.1 per cent in 2022, against 4.3 per cent previously, with the oil GDP to expectedly grow by 11 per cent this year
The emirate hosted 10.12 million international visitors from January through September 2022, compared to 3.85 million welcomed during the same period last year
Oil activities in the third quarter increased 14.2 per cent year-on-year
Domestically, real non-oil GDP growth expanded by 5.9 per cent, following six consecutive quarters of growth
The new corporate identity underpins future growth plans for the airports operator
GDP overall grew a revised 12.2 per cent from a year earlier, the fastest since 2011
The non-oil contribution to the country’s GDP in 2020 stood at 71.3 per cent
Its GDP reached Dhs1.489tn at current prices, with the growth rate for 2021 reported to be the highest in the region
Non-oil activities contributed 49.7 per cent of the GDP at constant prices last year
The bank’s strategy involved direct and indirect financing of 1,350 SMEs across priority sectors