Business | Economy
UAE non-oil sector rises to Dh312b last year
The UAE's non-oil sector grew by 18.6 per cent last year to Dh312 billion, representing around 64 per cent of the UAE's GDP, a top official said.
- Staff Report
- Published: 00:00 November 24, 2006
Dubai: The UAE's non-oil sector grew by 18.6 per cent last year to Dh312 billion, representing around 64 per cent of the UAE's GDP, a top official said.
"The UAE is planning to diversify its sources of income as well as its economic base, and that is clearly reflected in what the non-oil economic sectors have achieved last year," said Sultan Bin Saeed Al Mansouri, UAE Minister of Public Sector Development.
Al Mansouri inaugurated the first Emirates-UK Business Investment Opportunities showcasing 100 national companies.
More than 225 British companies and over 900 commercial agencies operating in the UAE, and the UAE's imports from the UK reached Dh14 billion, whereas the UAE's exports to the UK hit Dh344 million, and the UAE's re-exports to the UK hit Dh553 million.
Al Mansouri stressed the historical relations between the UAE and the UK.
He said this relation helped open doors to set up more joint ventures in both countries.
He added that the big influx of cash to the UAE has turned into an additional factor that helped in the rise of inflation, stressing that the solution may lie in having more investments.
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