Abu Dhabi’s GDP grows by 7.7%

Abu Dhabi’s GDP, at current prices, rose by 7.7 per cent to mark Dh911.6 billion at the end of 2012, compared to Dh846.7 billion in 2011, according to the Emirate’s Economic Report. Abu Dhabi’s oil exports registered a growth rate of 6.9 per cent during 2012, compared to approximately 5.4 per cent in 2011. Nasser Ahmad Al Suwaidi, Chairman of the Abu Dhabi Department of Economic Development, said that the path of economic development in recent years had been characterised by focusing on directing huge investments towards non-oil activities, to expedite and further the diversification of the economic base and income sources. The report stated that 2012 witnessed the continuation of the leading role of the group of non-oil activities in support of the overall economic performance, which achieved a combined positive growth rate of 9.6 per cent at current prices in 2012.