FINANCIAL NEWS

Dubai’s 2012 real GDP to expand by 4-5%

13 May 2012

(MENAFN) Dubai’s Economic Council stated that during the current year, the emirate’s real gross domestic product (GDP) is forecasted to expand between 4-5 percent, reported Emirates 24/7.

It said that even though all sectors will contribute to this year’s growth, however, trade and other non-hydrocarbon sectors will record notable expansions during the aforementioned period.

The council added that trade, tourism and industry, in addition to other key sectors attribute 96 percent of the emirate’s GDP.

It is worth noting that Dubai’s real GDP in 2011 grew 3 percent.

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