UAE economic growth accelerates to 5.2% in 2013

Official data shows that development of oil output was one of key factors for country's GDP growth
UAE economic growth accelerates to 5.2% in 2013
By Reuters
Sun 08 Jun 2014 01:35 PM

The UAE's economic growth accelerated to 5.2 percent in 2013 from 4.4 percent in the previous year, the OPEC member's statistics office said on Sunday.

"One of the most important factors contributing to the improvement of the 2013 GDP growth...was the development of oil output and a good and stable level of oil prices in general during last year, when the average oil price reached nearly $108 per barrel," the National Bureau of Statistics said.

Analysts polled by Reuters in April forecast a deceleration in the UAE's gross domestic product growth to 4.3 percent in 2014 and 4.0 percent in 2015.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.