Feb 14, 2023

10.5% growth of Abu Dhabi economy

In the first nine months of 2022, Abu Dhabi economy grew by 10.5% thanks a strong development of the non-oil sector which amounts to 50.3% of the emirate's GDP.

Non-oil sector grew by 10.3% which is AED 39 billion ($10.6 billion) compared to 2021 thanks to government efforts to diversify the economy, boost the private sector's contribution and invest in human capital. According to Abu Dhabi Statistics Centre, the city's financial sector also grew by 6.9% to AED 28 billion, which is 5.5% GDP.

According to the Abu Dhabi Industrial Strategy announced last year the emirate government invests AED 10 billion in regional industries to boost non-oil exports by 143% to AED 178.8 billion by 2031.

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(The National, February 14, 2023)