Abu Dhabi economic output booming

Abu Dhabi economic output booming
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Published January 28th, 2013 - 09:56 GMT via SyndiGate.info

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Abu Dhabi gross output of economic activities in 2011 exceeded Dh1tr ($272 billion) for first time
Abu Dhabi gross output of economic activities in 2011 exceeded Dh1tr ($272 billion) for first time
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Abu Dhabi
,
Mohammad Amerah
,
Statistics Centre Abu Dhabi

In 2011, Abu Dhabi gross output of economic activities amounted to Dh1,068.4 billion ($272 billion).

Abu Dhabi gross output of economic activities in 2011 exceeded Dh1tr ($272 billion) for first time.

Mining and quarrying accounted for 41.7 per cent of the total gross economic output.

Abu Dhabi:

The gross output of economic activities in the emirate of Abu Dhabi grew 29.9 per cent in 2011, exceeding Dh1 trillion ($272 billion) for the first time, latest figures released by Statistics Centre Abu Dhabi (SCAD) showed.

According to SCAD, in 2011, the gross output of economic activities in the emirate amounted to about Dh1,068.4 billion ($272 billion).

“The results demonstrate the robustness and stability of the emirate’s economy, attesting to its massive competitive edge over regional and global economies and boosting its appeal to local and foreign investors,” SCAD said in a statement.

Commenting on SCAD’s figures, Mohammad Amerah, an Abu Dhabi-based economist told Gulf News by telephone: “The UAE economy is growing rapidly and Abu Dhabi is leading that growth. The figures reflect growth in all economic sectors, be it commodity or services.”

“Exceeding Dh1 trillion ($272 billion) in economic activity means Abu Dhabi is emerging as an economic powerhouse in the region. The year 2012 is expected to match the growth rate of 2011, if not exceed,” Amerah added.

The SCAD report showed that mining and quarrying accounted for 41.7 per cent of the total gross output of economic activities in the emirate in 2011, followed by manufacturing industries (16.6 per cent) and construction (15.6 per cent).

According to SCAD’s findings, construction activity accounted for the largest proportion (23.4 per cent) of total wages paid in the emirate in 2011, followed by manufacturing, which counted for 11.1 per cent of the total wages.

The total wages in Abu Dhabi grew 7 per cent on year during 2011 to Dh108.37 billion.

As well, SCAD said the gross fixed capital formation for all economic activities in Abu Dhabi grew 10 per cent year-on-year during 2011 to Dh123.98 billion.

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