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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.
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