UAE GDP to expand 3.5 percent to USD435b in 2015
04 Oct 2015
(MENAFN) UAE’s gross domestic product (GDP) is expected to grow more than 3.5 percent to over USD435 billion this year, up from USD408.37 billion in 2014, the Minister of Economy said.
UAE’s ability to maintain high growth rates in the past years, despite global economic instability, shows its economic efficiency and proves that its diversification policy is proving to be successful.
The industrial sector’s share of GDP is growing and now stands between 10-14 percent. The minister said he expects the size of industrial investments in the UAE to double in five years.
He stressed that his ministry seeks to boost the competitiveness of the national economy, the flow of foreign direct investments as well as the country’s economic relations with foreign countries.