The value of industrial exports of the UAE by industrial classification recorded AED 84.2 billion in the first 10 months of 2020, according to figures issued by the Federal Center for Competitiveness and Statistics.
According to Arabic Net, these figures reflect the important role played by the industrial sector in the sustainability of economic development in the state and its ability to maintain a good activity, despite the emerging circumstances imposed by the Corona pandemic on the economies of all countries of the world.
The contribution of the industrial sector was about 10% in GDP during 2019, according to a report earlier by Colliers International Middle East and North Africa, which strengthened its role in the economic diversification policy.
The statistics issued by the Ministry of Economy showed that this ongoing GDP was 1.546 trillion dirhams during 2019, while GDP arrived at current prices at current prices 1,159 trillion dirhams. The contribution of non-oil sectors in GDP at real prices was 70.2% during the same period.
Hamad Al Awadhi, a member of the Abu Dhabi Chamber of Commerce and Industry, said the UAE's industrial sector has seen a significant development over the past years as it enabled him to increase its contribution to the state's economic activity, noting that developments and catalysts launched during the last period either by the federal government Or local governments contributed to supporting economic sectors, including the industrial sector, strengthening its competitiveness and export.
Al-Awadhi said - in a special statement to Emirates News Agency (WAM) - Continuing to develop the industrial sector would increase the attractiveness of legislative and investment environment and will have positive implications for the sector's work during the coming period and contribute to increasing its exports and contribution to the UAE GDP.
He pointed out that the strengthening of public-private partnership will contribute to increased value added for the industrial sector in the State to ensure the positive impact targeted by the State industrial strategy.
