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
Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Breakdown in talks between Athens and its creditors plunged the...

Inside Abu Dhabi's thought laboratory

Inside Abu Dhabi's thought laboratory

A government-backed scheme in Abu Dhabi aims to kick-start the...

Gulf states get more assertive as Iran closes in on nuclear deal

Gulf states get more assertive as Iran closes in on nuclear deal

Biggest concern is what they see as Shi'ite Iran's regional expansionism...

Most Popular
Most Discussed