FINANCIAL NEWS

UAE’s 2012 economic growth at 4.4%

20 May 2013

(MENAFN) The UAE’s National Bureau of Statistics announced that the country’s economy grew to 4.4 percent in 2012 in inflation-adjusted terms, reported Arabian Business.

According to the bureau, the figure is compared with a revised 3.9 percent in 2011.

It attributed the growth to high and stable oil prices in the period that enhanced all economic activities in the Arab world’s second-biggest economy.

It said that in 2012, oil prices averaged USD112 per barrel compared with USD109 per barrel a year earlier.

On the other hand, the country’s non-oil sector contributed around 67.3 percent to the real GDP.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more