UAE: Economy grows by 8.2%
According to the UAE central bank, the economy grew by 8.2% last year, marginally slower than the 9.7% growth it posted in 2004, in real terms. In its statistical bulletin for 1Q 2006, the bank said the UAE's GDP at constant 2000 prices climbed to AED 357.59 bn in 2005 from AED 330.51 bn in 2004. In nominal terms, GDP grew 25.6% in 2005 to AED 485.51 bn, slightly off the 26.4% growth announced by the Ministry of Economy in June.
The bank added the consumer price index went up 7.1% in 2005, up from 5.04% in 2004.