Abu Dhabi’s non-oil economy expanded by almost 10 per cent last year despite an overall slowdown in nominal growth, according to preliminary figures released by the Statistics Centre – Abu Dhabi (Scad).
The information and communication sector led the way for the year with an annual GDP growth of 15.29 per cent, followed by manufacturing (12.56 per cent) and accommodation and food services (11.62 per cent.)
Abu Dhabi’s nominal GDP – calculated using current prices – grew 4.8 per cent to Dh953.2 billion during 2013, according to early figures. This compares with nominal GDP growth of 7.4 per cent in 2012, according to Scad.
A narrowing in growth in the emirate’s oil and gas sector was the main factor behind the slowdown. Oil and gas accounted for 55 per cent of Abu Dhabi’s GDP in 2013, compared with 57 per cent in 2012, according to Scad data.
Provisional real GDP growth figures for 2013 are expected to be released in May, said Nasser Dayan, Scad’s director of economic statistics.
The emirate’s oil and gas sector grew to Dh523.9bn, a mere 1 per cent increase on 2012’s figure of Dh518.86bn, according to Scad estimates. This compares with a 7 per cent growth for the sector in 2012.
By contrast, GDP from non-oil and gas sectors reached Dh429.34bn in 2013, a year on year increase of 9.8 per cent.
Scad officials declined to provide commentary on the figures and the increases.
Meanwhile, salaries in the UAE are likely to rise by as much as 5.9 per cent in 2014, compared with 5.3 per cent last year, according to a survey released yesterday by the online recruiting firm GulfTalent.
The company’s Employment and Salary Trends in the Gulf report, released yesterday, found that the UAE had further strengthened its position as the prime destination for expatriates looking to work in the GCC, with Dubai and Abu Dhabi (followed by Doha) the most attractive cities in the region in which to live and work.
jeverington@thenational.ae
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Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
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- Dean Garforth, 29: part of a crime gang that sold drugs and guns.
- Joshua Dillon Hendry, 30: accused of trafficking heroin and crack cocain.
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Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
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TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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Star rating: 2/5
