Abu Dhabi posts 6-year high GDP expansion

Abu Dhabi posts 6-year high GDP expansion

Abu Dhabi’s quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022, jumping to 11.7 per cent compared to the same quarter last year.

Abu Dhabi's economy recorded a six-year high expansion in the first half of 2022 regardless of the global headwinds, signifying the resilience of the non-oil sectors and competitiveness.

The emirate’s gross domestic product surged 11.2 per cent during the first half compared to the same 2021 period, according to data released by Statistic Centre- Abu Dhabi (Scad).

“The growth reflects the emirate's robust performance and the ability of the economy to maintain competitiveness and sustain growth despite global economic challenges,” Scad said in a statement.

Abu Dhabi’s quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022, jumping to 11.7 per cent compared to the same quarter last year.

At the end of the first half of 2022, the real GDP value (at constant prices) exceeded Dh543 billion, and the value of the non-oil sectors' GDP increased by Dh28.4 billion from the same period last year to reach Dh 273 billion in total.

Overall, the GDP growth of the UAE is projected to reach above six per cent