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FINANCIAL NEWS
Abu Dhabi’s 2011 GDP grows by 3.8%
27 Dec 2011
(MENAFN) Abu Dhabi Chamber of Commerce and Industry said that the emirate’s gross domestic product (GDP) is forecasted to have grown by nearly 3.8 percent in the current year, reported Emirates 24/7.
The chamber added that total fixed capital formation in 2011 increased by around USD3.8 billion from last year’s USD26.6 billion to USD30 billion, moreover, the oil sector rose by 7.3 percent in current prices, whereas the non-hydrocarbon sector went up by 8.5 percent.
It also said that real GDP grew by 3.8 percent reaching USD154 billion, compared with USD148.7 billion in 2010, on the other hand, GDP per capita rose by 1.5 percent to USD54,760, recording one of the highest levels in the world.
It is worth noting that private investment in 2011 expanded to USD14.6 billion from USD12.9 billion, while public investment reached USD6.8 billion, up from USD5.76 billion.
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