13 Nov 2011
(MENAFN) Abu Dhabi Department of Economy Development (DED) said that last year, the country’s real gross domestic product (GDP) grew by 1.4 percent to USD266 billion from USD262 billion in 2009, reported Emirates 24/7.
The department added that during the period, growth of nominal GDP exceeded 10 percent, whereas trade surplus rose to USD50.8 billion from USD42 billion in the previous year, attributing the increase to higher oil prices.
It also said that in 2010, inflation reached 0.8 percent, recording one of its lowest levels, after it surged 12.3 percent in 2008 and 1.6 percent in 2009, on the other hand, overall exports and re-exports went up reaching USD212 billion compared with USD191.7 billion in the previous year, while oil exports rose from USD67.8 billion in 2009 to USD75 billion.
It is worth noting that last year, the country’s oil sector contributed with 69 percent to the GDP from 66 percent in 2009.
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