Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Abu Dhabi's GDP shows consistent growth in 2012  Join our daily free Newsletter

MENAFN - Khaleej Times - 13/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Abu Dhabi's gross domestic production (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, albeit relatively better economic performance during 2011 as GDP achieved a nominal growth rate of 32 per cent.



The Economic Report of the Emirate of Abu Dhabi 2013 issued by the Studies Directorate of the Department of Economic Development, has interpreted this relative growth through low growth rate achieved by the extractive industry activity in 2012, which amounted to about 6.2 per cent, compared to 52.8 per cent in 2011, due to the limited increases in quantities of oil production, and the limited rise in oil prices in global markets during 2012 compared to 2011. 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



The report emphasised that the continuation of non-oil activities to achieving high rates of growth in recent years, evidence the soundness and efficiency of the economic diversification policy followed by the Government; especially in the last three years which witnessed continuous improvement in the performance of this group of activities, after the sharp slowdown experienced in 2009



The reported 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



In general, the report pointed out that contribution of extractive industries activities to Abu Dhai's GDP in 2012 dropped to 56.48 per cent compared to 57.3 per cent in 2011




Nasser Ahmed Alsowaidi, chairman Abu Dhabi Department of Economic Development, said, "Abu Dhabi's economy continued to achieve distinct quantitative and qualitative developments in various in all areas, thanks to the far-sighted leadership and the sincere efforts to efficiently and sensibly invest oil revenues, taking into consideration the attainment of sustainability and empowerment of community members; as these goals are the focus of the "Abu Dhabi Economic Vision 2030"



He said that the path of economic development in the Emirate of Abu Dhabi in recent years has been characterized by focusing on directing huge investments towards non-oil activities, to expedite and further the diversification of the economic base and income sources



This approach coincided with government efforts to stimulate and encourage the private sector to participate actively in the development process of the Emirate; and lay down the solid base for an environment, most attractive and supportive to ensure the success of investment projects



Alsowaidi added that this new edition of the "Annual Economic Report of the Emirate of Abu Dhabi 2013", comes to depict and mirror the strength of the economy, based on genuine indicators, that Abu Dhabi's economy, beyond any doubt, had returned to its healthy pace, taking advantage of the vivid diversification strategy pursued by the Emirate, which succeeded in reducing the oil sector's dominant contribution to GDP, in favour of non-oil activities, that had experienced strong growth rates in recent years.

 


Khaleej Times




  MENA News Headlines
 Feb 8 2016 - Genel and DNO receive US21.5mln for Tawke in January Proactiveinvestors UKProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Oil producer Genel Energy (LON:GENL) has received notification from partner DNO that US$18mln has been paid for oil from the Tawke field in Iraq ro January. A ...

 Feb 8 2016 - Newspaper Briefing: January sales spurt provides relief for retailersProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Proactive Investors Fri The Times January sales spurt provides relief for retailers: The souring economic mood failed to dampen the spirits of consumers who ...

 Feb 8 2016 - SP Angel Morning Oil Gas Genel Energy Union Jack Oil Petroceltic InternationalProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) SP Angel 09:53 Headlines Union Jack Oil* (LON:UJO0.12p)Keddington-5 Extension: Today's news of Keddington-5 is good for the Company as you have to make a ...

 Feb 8 2016 - Yemen's army advances towards Sanaa, officers saySaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Rabi'II 28, 1437, February 07, 2016, SPA - After having tightening its grip over Ghailama region, located in Mahali valley, the Yemeni army, assisted by the ...

 Feb 8 2016 - A fire flares up at Riyadh-based Al-Hammadi hospital efficiently contained by Red Crescent squadsSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Rabi'II 29, 1437, February 08, 2016, SPA - Red Crescent fire extinguishing squads have efficiently put out a fire that flared up at Riyadh-based Al-Hammadi ...

 Feb 8 2016 - Almost 90 of people in southern Syria live in extreme poverty ReportThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) At least 88 percent of families in the southern Syrian provinces of Daraa and Qunaitra are living in extreme poverty due to the ongoing civil war in the ...

 Feb 8 2016 - Citing betrayal some Syrian rebels withdraw from frontThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Syrian rebels in northern Syria have come under an intense week-long bombing campaign by Russian warplanes. The insurgents who also have been trying to hold ...

 Feb 8 2016 - Middle East is Zika-free zone, WHO saysSaudi Press Agency
(MENAFN - Saudi Press Agency) Cairo, Rabi'II 29, 1437, February 08, 2016, SPA - The Middle East office of the World Health Organization (WHO) today announced that the region is considered Zika-free ...

 Feb 8 2016 - Genel and DNO receive US21.5mln for Tawke in JanuaryProactiveInvestors - UK
(MENAFN - ProactiveInvestors - UK) Oil producer Genel Energy (LON:GENL) has received notification from partner DNO that US$18mln has been paid for oil from the Tawke field in Iraq ro January. A ...

 Feb 8 2016 - Saudi PressSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Rabi'II 29, 1437, Feb 8, 2016, SPA - Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. ...

more...


 






Google

Taqs

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help