Abu Dhabi Sees Q4 GDP Jump
Abu Dhabi’s gross domestic product (GDP) has increased by 12.9% in Q4 of 2018 when compared to Q4, 2017, according to the Statistics Center of Abu Dhabi (SCAD).
The GDP of 2018 grew by 14.5% to 931.2 billion dirhams (US$253.6 billion) from 813.6 billion in 2017, SCAD stated.
The increase in economic activity could be attributed to the value added by oil activity.
Compared with the third quarter last year, the value added by oil activities increased by 3.2%, while non-oil activities recorded an increase of 1.2 percent in the fourth quarter last year.
Abu Dhabi is presently planning a wider move away from an oil based economy, as the UAE strives to become one of the world’s business, cultural and commerce hotspots.
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