The gross domestic savings in UAE grew in 2018 to hit Dh516.1 billion ($140 billion), up 6.6 per cent from Dh484.5 billion ($132 million) the previous year, according to figures revealed by the Federal Competitiveness and Statistics Authority.
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The highest since 2015, the growth reflects the significant success achieved by the economic diversification policy adopted by the government over the past years, said the Authority in its statement.
According to the figures, the gross domestic savings stood at Dh491.8 billion in 2015 before declining to Dh482.1 billion in 2016, then up to Dh484.5 billion in 2017, since which the rate has been on the rise.
The remarkable growth in national savings has reflected positively on the rest of the country's economic indicators, with the gross national income per capita up to Dh55,570 at a time the oil sector's contribution to GNI is getting down, and GDP is edging up.
