UAE 2000 GDP rose 17 percent on high oil prices

The United Arab Emirates (UAE) saw its gross domestic product (GDP) rise 17 percent in 2000 on the back of high oil prices, according to a central bank report published Saturday, march 24. 

GDP reached 223 billion dirhams ($60.8 billion), compared with 190.5 billion dirhams ($51.9 billion) in 1999. GDP per capita rose from 56,600 dirhams ($15,422) to 63,800 dirhams ($17,384). 

Oil revenues rose 55 percent to 70 billion dirhams ($19 billion) from 45 billion dirhams ($12.3 billion). The balance of payments surplus widened to 10.4 billion dirhams ($2.80 billion) from 6.4 billion dirhams ($1.74 billion). 

The trade surplus increased to 42 billion dirhams ($11.4 billion) from 12.4 billion dirhams ($3.37 billion). Meanwhile, the report said the population of the UAE rose to 3.106 million people in 2000 from 2.938 million. The number of workers was 1.95 million, compared with 1.46 million a year earlier. — (AFP, Abu Dhabi) 

© Agence France Presse 2001

© 2001 Mena Report (www.menareport.com)