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FINANCIAL NEWS
Abu Dhabi GDP expands 6.8% in 2011
14 Oct 2012
(MENAFN) Official data showed that Abu Dhabi’s gross domestic product (GDP) has expanded by 6.8 percent in inflation-adjusted terms in 2011, the fastest rate since seven years, Reuters reported.
According to the Statistics Centre Abu Dhabi, the real gross domestic product of Abu Dhabi rose 3.0 percent in 2010.
The hydrocarbon sector, which accounts for over half of Abu Dhabi’s real GDP, expanded by 9.4 percent last year, also the strongest expansion since 2004 and up by far from 2 percent in 2010.
The non-oil sector grew by 4.1 percent last year, marginally up from 3.9 percent in 2010 and roughly half of the average rate over the past decade, the data showed.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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