Abu Dhabi
Abu Dhabi’s economy continues to achieve quantitative and qualitative developments in all areas thanks to the government’s prudent policy as emirate’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, albeit relatively better economic performance during 2011 as GDP achieved a nominal growth rate of 32 percentage.
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.
Oil exports
However, 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.
“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,” he said.
Non-oil activities
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. In general, the report pointed out that contribution of extractive industries activities to Abu Dhabi’s GDP in 2012 dropped to 56.48 per cent compared to 57.3 per cent in 2011.
Mohammad Omar Abdullah, Undersecretary of the Department of Economic Development, that the report shows that the real GDP of the Emirate of Abu Dhabi achieved a growth rate of 5.6 per cent in 2012, and that the non-oil activities witnessed a steady growth since 2007, which ranged between 5 per cent and 9 per cent until 2012; adding that this raised the contribution of non-oil economic activities to real GDP from less than 44 per cent in 2007 to 48 per cent in 2012.
Non-oil economic activities gained real growth of 7.7 per cent in 2012, compared to 6.7 per cent and 6.1 per cent in 2011 and 2010 respectively. This reflected positively on the contribution of non-oil activities to the real GDP of the Emirate, which rose to 48 per cent in 2012 compared to 44 per cent in 2007.
Tourism boom
Mubarak Al Muhairi, the Director General of Abu Dhabi Tourism and Culture Authority, said that the tourism sector had witnessed a tremendous boom in the last five years.
The number of guests increased by 13 per cent per cent to reach 2.38 million, while the nights of stay also increased by 13 per cent to register 6.99 million nights.
Revenue and profits amounted to Dh4.6 billion, increasing by 6 per cent compared to the previous year.
The sector’s direct contribution to non-oil GDP amounted to Dh10.4 billion, while its indirect contribution to non-oil GDP was estimated at Dh20.9 billion, marking 2.6 per cent and 5.3 per cent respectively.
Population
The report reveals that the total population of Abu Dhabi increased from 2.2 million in 2011 to 2.3 million in 2012, for a growth rate of about 8 per cent.
Meanwhile, the proportion of males and females continued to prevail in favour of males, who constituted more than 71 per cent of the emirate’s total population.
— WAM
