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Abu Dhabi’s GDP grows by 3% to Dh960b in 2016

Non-oil exports amounted to Dh30.8 billion with Saudi Arabia being the top destination last year

Abu Dhabi: Abu Dhabi’s Gross Domestic Product in 2014 at current prices increased by 3 per cent to reach Dh960 billion from Dh931.8 billion in 2013, according to Statistics Centre, Abu Dhabi (SCAD).

In 2014, annual per capita GDP was Dh361,4000, total fixed capital formation was Dh180 billion in 2015, Statistics Center said quoting from Statistical Year Book released on Sunday.

The GDP at constant prices grew by 4.4 per cent in 2014, following an increase of 4.5 per cent in 2013. The main activities contributing to economic growth in 2014 were financial and insurance activities, real estate and information and communications’ which grew by 18.2 per cent, 17 per cent and 12 per cent, respectively.

The book also talks about diversification of economy with oil contributing an estimated 50.9 per cent of the GDP at current prices in 2014, with the remaining 49.1 per cent representing the share of non-oil activities, which achieved a combined growth rate of 12 per cent.

In 2015, imports in goods through the ports of the Abu Dhabi amounted to Dh119.3 billion, up from Dh108 billion in 2014.

The largest imports category was machinery, sound recorders, reproducers and parts, which accounted for 27.1 per cent of total imports.

The United States of America was the top import partner, supplying the emirate with goods worth Dh18.5 billion, the Statistics Centre Abu Dhabi said.

Non-oil exports amounted to Dh30.8 billion. Saudi Arabia was the top destination of Abu Dhabi’s non-oil exports, receiving goods worth Dh9 billion from the emirate in 2015.

The value of imports of goods from Asian countries through Abu Dhabi ports totalled Dh52.1 billion during 2015, up from with Dh47.9 billion in 2014. Meanwhile, non-oil exports worth 20.9 billion and re-exports worth Dh15.0 billion were shipped to Asian markets from Abu Dhabi ports during 2015.

Stock market

During 2014 shares worth Dh60.2 billion were traded on the Abu Dhabi Securities Exchange.

The market capitalisation of shares in the Abu Dhabi stock market declined 1.6 per cent in 2015 compared with the previous year, although the number of listed companies over the same period increased to 68 companies.

Foreign Direct Investment (FDI) in Abu Dhabi by the end of 2014 was Dh81.1 billion up from Dh71.9 billion at the end of 2013.

In the ‘Tourism’ activity, the total number of hotel establishments increased to 168 in 2015, up 5 per cent compared with 2014. Over the same period, the number of guests increased by 17.5 per cent, the number of rooms by 4.9 per cent and the occupancy rate by 1 per cent to 75.4, while the average length of stay reached 3 nights.

In the “Transport” activity, 23.3 million passengers travelled through the airports of Abu Dhabi during 2015 emirate, compared with 19.9 million in 2014,

At the end of 2015, there was a total of 84,620 registered business licences in the emirate of Abu Dhabi.