Abu Dhabi's nine-month GDP rises 14% to $188bn

Driven by an economic upturn, Abu Dhabi's nine-month GDP accounts for 83.3% of its total GDP for 2017
Abu Dhabi's nine-month GDP rises 14% to $188bn
By Sam Bridge
Sat 19 Jan 2019 11:48 AM

Abu Dhabi's nominal gross domestic product reached AED692.8 billion ($188.6 billion) in the first nine months of 2018, up 14 percent on the year earlier period, according to official figures.

The GDP figure rose from AED608 billion during the corresponding period of 2017, according to the Statistics Centre - Abu Dhabi (SCAD) which highlighted the rise in oil prices in the first half of last year as a factor.

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, state news agency WAM reported.

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

It added that 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.

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

WAM reported that Abu Dhabi's GDP in current prices hit AED456 billion in the first half 2018, a growth of 12 percent from AED407 billion in same period of 2017.

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