UAE 2000 GDP rose 17 percent on high oil prices

Published March 25th, 2001 - 02:00 GMT

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)

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