Abu Dhabi
The GDP (gross domestic product) of Abu Dhabi grew by 5.3 per cent in the third quarter of 2017 compared to the same period during the previous year.
The GDP of the capital grew to Dh195.9 billion in the third quarter of 2017, from Dh186 billion in the third quarter of 2016, the latest report from Statistics Centre, Abu Dhabi (SCAD) said.
There was a positive growth recorded in both oil and non-oil activities with oil GDP growing by 10.7 per cent to Dh60.3 billion during the third quarter of last year, while non-oil GDP increased from Dh131.6 billion in the third quarter of 2016 to Dh135.6 billion in the third quarter of 2017.
“The confidence indices for the third quarter of 2017 suggest there are opportunities for continued improvement in the performance of the economy of the emirate, especially in non-oil activities, benefiting from the accelerated pace of global economic growth, amid continued improvement in oil prices in the world markets, even though growth in the oil sector during the third quarter was hampered by OPEC’s production cut agreement currently in effect,” said Khalifa Bin Salim Al Mansouri, Undersecretary of the Abu Dhabi Department of Economic Development (DED).
