Abu Dhabi’s GDP rises 7.7%, population reaches 2.3m



ABU DHABI: ARAB NEWS

Published — Monday 13 January 2014

Last update 12 January 2014 11:13 pm

| نسخة PDF Print News | A A

Abu Dhabi’s GDP at current prices rose by 7.7 percent to mark AED911.6 billion at the end of 2012, compared to AED846.7 billion in 2011, albeit relatively a better economic performance during 2011 as the GDP achieved a nominal growth rate of 32 percent, state news agency Wam reported.
The Economic Report 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 percent, compared to 52.8 percent 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.
Abu Dhabi’s oil exports registered a growth rate of 6.9 percent during 2012 compared to approximately 5.4 percent in 2011.
The report emphasized that the continuation of nonoil activities to achieving high rates of growth in recent years is substantiates the soundness and efficiency of the economic diversification policy followed by the government, especially in the last three years, which witnessed continuous improvement in the performance of this group of activities, after the sharp slowdown experienced in 2009.
The report said 2012 witnessed the continuation of the leading role of the group of nonoil activities in support of the overall economic performance, which achieved a combined positive growth rate of 9.6 percent at current prices in 2012.
In general, the report said contribution of extractive industries activities to Abu Dhabi’s GDP in 2012 dropped to 56.48 percent compared to 57.3 percent in 2011.
Nasser Ahmed Alsowaidi, chairman, Abu Dhabi Department of Economic Development, said: “Abu Dhabi’s economy continued to achieve distinct quantitative and qualitative developments in all areas.”
Mohammed Omar Abdullah, undersecretary of the Department of Economic Development, said the report shows that the real GDP of Abu Dhabi has achieved a growth rate of 5.6 percent in 2012, and that the nonoil activities witnessed a steady growth since 2007, which ranged between 5 percent and 9 percent until 2012. He added that this raised the contribution of nonoil economic activities to real GDP from less than 44 percent in 2007 to 48 percent in 2012.
Abu Dhabi’s population, meanwhile, increased from 2.2 million in 2011 to 2.3 million in 2012, registering a growth rate of 8 percent, which exceeded the growth rate of GDP at current and constant prices, which stood at 7.7 percent and 5.6 percent respectively during the same year. However, the average GDP per capita in Abu Dhabi still ranks among the highest in the world.
On the other hand, non-citizens captured 97.6% of the emirate’s total population in 2012, with the continuing imbalance between males and females in this category, where males dominated with 76.2 percent of the total population of non-citizens, while females accounted for about 23.8 percent, due to the high number of expatriates who work in the emirate; their families live in their countries of origin.
In view of the recovery and boom experienced by Abu Dhabi, many economic activities continued to attract and absorb more citizens and expatriates in labor force in the emirate.
The number of employed persons was projected to increase from 1.4 million people in 2011 to 1.6 million people in 2012, up by approximately 12 percent.
At the same time, the total size of the work force in the emirate went up from 1.4 million in 2011 to 1.6 million people in 2012, registering approximately a 13 percent increase, which raised the percentage of the labor force to 70 percent of the total population of the emirate in 2012 compared to 66.8 percent in 2011.
In the same vein, estimates indicate a slight increase in unemployment rate to reach 3.2 percent in 2012 compared to 2.8 percent in 2011.
The emirate’s economy maintained relative stability in the prices of most goods and services over the past few years, as the general consumer prices index rose from 121.6 points in 2011 to122.9 points in 2012.
The average annual inflation rate in the emirate dropped to 1.1 percent by 2012 compared to 1.9 percent in 2011 and 3.1 percent at the end of 2010.

What's happening around Saudi Arabia

JEDDAH: The government has installed 5,000 high-definition cameras on all floors and courtyards of the Grand Mosque to ensure security and crowd control.These cameras are monitored 24 hours a day by officers at a control center in Mina. They have to...
GENEVA: Saudi Arabia has welcomed the report of the International Fact Finding Commission on Israeli aggression in Gaza and has lauded its effort to prepare the report despite noncooperation from Israel which did not allow the committee to do its wor...
JEDDAH: Several Yemenis have praised the government for correcting their status quickly, which created no extra burden while fasting.Many who gathered in front of the Passport Department in Asir said everything was in place for them, a local newspape...
RIYADH: The $11.6 billion King Abdullah Financial District (KAFD) is already being admired for being a smart city but nobody can tell when it will be completed.“Being a smart city, everything is state-of-the-art. There is seamless Internet access and...
RIYADH: In a new move, the Ministry of Health will conduct drug tests on all drivers ferrying pilgrims between Makkah and Madinah during the Haj season.The decision was taken at a Haj preparatory meeting held on Sunday under the chairmanship of Imad...
JEDDAH: Motorbikes are among the most important means of transportation in Makkah during Ramadan because they are easy to use and cope easily with congestion in the central area next to the Grand Mosque. Despite the presence of public transportation,...
JEDDAH: A local man here runs a business started 150 years ago by his grandfather making sought-after Hijazi sweets for Eid and other festivals.Samer Jastaniah, 35, has three family shops making these products. “I am the grandson of the doyen of swee...
RIYADH: Saudi students have won six medals — a gold, a silver and four bronze — at the 19th Junior Balkan Mathematical Olympiad (JBMO 2015), securing the fifth place for the nation, as against 13th in its first participation in 2013.Rinad Abu-Jamal f...
Ambassador of Belgium Geert Criel:— Which particular aspect of Saudi Arabia you like the most? The friendliness of its people.— What is your favorite and oft-repeated Arabic word? Ahlan wa Sahlan.— Which book is by your bedside these days? World Orde...
AL-AHSA: Saudi farmers here need more support to buy fertilizers, medicines and equipment, and market their products.This is the view of Ahmed Al-Musalmi, who recently won the country’s ‘Ideal Farmer Award.’ He said high production costs and low mark...
JEDDAH: The Commission of the Promotion of Virtue and Prevention of Vice (Haia) has launched 20 initiatives aimed at improving the professionalism of employees and limiting individual interpretations and actions while carrying out duties.Sheikh Abdul...
RIYADH: Medical studies and research for new methods in the treatment of chronic diseases suggests that fasting could help combat cancer and boost effectiveness of treatment.Scientists doing research on the positive aspects of fasting discovered that...
RIYADH: The Ministry of Education has announced that Saudi universities would accept 95 percent of high school graduates, despite a royal decree four years ago setting a ceiling of 70 percent.The royal decree had approved the “Afaq Project,” a strate...
JEDDAH: With the first stages of the municipal elections set to launch in Dhul Qadah, various organizations and institutions are responding to the intensifying “election fever” by trying to get in on the action and making a strong presence on the sce...
AL-AHSA: The third annual Youth Nights Festival kicked off at King Abdullah Environmental Park in Al-Ahsa recently. Organized by the General Presidency of Youth Welfare (GPYW), in collaboration with Al-Ahsa Municipality, the festival targets 70,000 y...

Stay Connected

Facebook