UAE economic growth accelerates to 4.4% in 2012

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Economic growth in the United Arab Emirates accelerated to 4.4 percent in inflation-adjusted terms in 2012 from a downwardly revised 3.9 percent the previous year as activity picked up across all sectors, its statistics office said on Sunday.

"One of the most important factors is the role played by good and stable oil prices in general over the last year," the National Bureau of Statistics in the OPEC member said in a data commentary.

"All economic activities saw positive improvement in their growth rates in 2012, which has positively reflected on the value of the country's GDP (gross domestic product)," it said.

Oil prices averaged $112 per barrel last year, up from $109 in 2011, the office said, adding that the non-oil sector share on the Gulf country's real GDP was estimated at 67.3 percent in 2012.

Analysts polled by Reuters in April forecast GDP growth in the UAE, the second largest Arab economy after Saudi Arabia, to slow to 3.3 percent this year.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

2
Q&A with Dubai Chamber

Q&A with Dubai Chamber

We spoke with Essa Al Zaabi of Dubai Chamber of Commerce to find...

The politics of big data

The politics of big data

The UAE may be one of the fastest adopters of e-government initiatives...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew