The emirate of Abu Dhabi reported a record per capita income of nearly $36,000 in 2000, pushed up by sharp expansion in its oil and non-oil sectors, according to official figures.
Country-wise, the U.S. was the richest in 2000, with a per capita income of around $28,000. Qatar came next with $26,500.
Income ranged between $21,000 and $25,000 in Canada, Norway, Luxembourg and Denmark.
With a population of around 1.08 million and GDP valued at Dh145.4 billion ($39.6 billion), Abu Dhabi's per capita income stood at nearly $36,000 in 2000, according to figures from the Abu Dhabi Planning Department.
In 1999, the emirate had a per capita income of around $28,000, but lower in 1998 at around $24,400 as a result of a steep decline in oil prices.
Experts expect the emirate to maintain a front position in the wealthy list as it is poised to boost oil production, while non-oil sectors are set to maintain their upward trend thanks to large public and private investments.
The report showed such investments at around Dh27.3 billion ($7.4 billion) in 2000, with nearly two-thirds pumped by the private sector.
Despite sharp fluctuations in crude prices, Abu Dhabi's overall economy recorded growth in most years over the past decade, except in 1998, when prices tumbled below $10 a barrel.
From around Dh103 billion ($28 billion) in 1997, the GDP shrank to nearly Dh89.2 billion ($24.3 billion) in 1998. But it rebounded to Dh107.7 billion ($29.3 billion) in 1999 and leapt to $39.5 billion in 2000.
The GDP is expected to have slipped slightly last year due to lower crude prices. But the non-oil sector was not affected by such fluctuations as it grew from around $15.6 billion in 1997 to $16 billion in 1998.
It climbed to $17.7 billion in 1999 and $19.6 billion in 2000. It is expected to have surpassed the $20 billion mark last year, mainly because of growth in industry and services.
"It is the continuous growth in the non-oil activities that is maintaining Abu Dhabi's strong economic and financial position as it is offsetting the persistent instability in oil prices," a UAE banker said.
Over the past few years, Abu Dhabi managed to maintain its per capita income above $20,000 owing to non-oil growth.
The increases in oil prices in some years are also a main factor in keeping the per capita income high when the population is growing at nearly 4 per cent annually.
Abu Dhabi reports record per capita income
The emirate of Abu Dhabi reported a record per capita income of nearly $36,000 in 2000, pushed up by sharp expansion in its oil and non-oil sectors, according to official figures.