Abu Dhabi GDP up 9% in first quarter

Emirate’s non-oil sector accounts for 61.2% of economic output at Dh136.9b

The gross domestic product of the Emirate of Abu Dhabi grew to Dh223.6 billion in the first quarter of 2018, up 9 per cent from Dh205.1 billion in the first quarter of 2017.

In a statement released by Statistics Centre-Abu Dhabi (SCAD) yesterday, Abu Dhabi’s oil GDP grew by 18 per cent to Dh86.6 billion during the first quarter of 2018, up from 73.4 in the first quarter of 2017, constituting 38.8 per cent of the emirate’s first quarter GDP.

Non-oil GDP increased from Dh131.7 billion in the first quarter of 2017 to Dh136.9 billion in the first quarter of 2018, making up 61.2 per cent of the emirate’s GDP at current prices for the first quarter of 2018, compared with 64.2 per cent in the same period last year.

A breakdown of the results by institutional sectors at current prices shows a 9.6 per cent year-on-year rise in the value-add of non-financial corporations in the first quarter of 2018.

Meanwhile the value-added of the general government sector increased by 9 per cent, while that of the financial corporations sector grew by 3.6 per cent and the household sector by 1.9 per cent.

SCAD’s chairman, Rashid Lahej Al Mansouri, said the report data confirms the strong economic performance of Abu Dhabi’s economy and attests to the emirate’s success in creating a conducive environment for the growth and expansion of various economic activities by setting up the necessary infrastructure, providing the right services and legal and regulatory environment, implementing appropriate plans and strategies to stimulate the economy.