Abu Dhabi: The UAE's industrial sector grew approximately 11 per cent in 2011 to maintain its position as the second largest component of GDP after the hydrocarbon sector, according to a study by Emirates Industrial Bank (EIB).
According to the study, the growth was attributed to an increased contribution by both public and private investment in manufacturing projects in addition to the completion of the first stage of the Abu Dhabi-based Emirates Aluminium project (Emal) at a cost of $5.7 billion (Dh20.9 billion)
"The manufacturing sector's contribution to the UAE's GDP increased to Dh141.7 billion in 2011, up from Dh127.6 billion in 2010. The growth in the industrial sector as well as non-oil sectors in the UAE in 2011 was due to an increase in local liquidity due to a surge in the country's oil export earnings," the EIB said.
