Abu Dhabi’s nominal GDP grows 14 percent to AED692.8 bn in nine months

ABU DHABI, The Abu Dhabi’s nominal Gross Domestic Product amounted to AED692.8 billion in the first nine months of 2018, 14 percent up from AED608 billion during the corresponding period of 2017, according to the Statistics Centre- Abu Dhabi (SCAD).

Driven by an economic upturn across oil and non-oil sectors alike, the nine-month GDP accounts for 83.3 percent of the emirate’s total GDP for 2017 which stood at circa AED833 billion.

The GDP’s oil value-added differentiators rose to about AED280 billion during the first nine months 2018, a growth of 33.3 percent from AED210.2 billion during the same period 2017.

In the meantime, the non-oil added value stood at AED412.8 billion from January through September, up 3.8 percent from AED397.7 billion in the corresponding period 2017.

Abu Dhabi’s GDP in current prices hit AED456 billion in 2018, a growth of 12 percent from AED407 billion in same period of 2017.

During Q1 2018, the emirate’s GDP grew 9 percent over Q1 2017, picking up to 15.3 percent in Q2 against the same period of 2017, before jumping to 17 percent in Q3 2018.

According to SCAD Statistical Yearbook, the emirate’s GDP per capital in current prices hit AED287.7 thousand in 2017.

Source: Emirates News Agency