Aref Al Muhairi, Executive Director of the Dubai Statistics Center, said that the competitiveness of the emirate’s markets and the efficiency of its economy has stimulated demand, which boosted the productivity of various economic sectors and pushed the overall growth of the emirate’s economy in 2018 .
Al-Muhairi added that the remarkable development in the performance of all economic activities clearly shows the extent of the flexibility enjoyed by the emirate’s economy.
He explained that this flexibility, in addition to constructive economic policies, had a major role in this economic performance and balanced growth, especially in light of the economic conditions that prevail in the global economy. >
According to data from the Dubai Statistics Center, the GDP growth for the year 2018 was driven by the performance of the trade activity, which achieved a growth of 1.3% compared to 2017, to contribute to 18.1% of the total Growth in 2018.
In contrast, trade contributed 30% of the total growth achieved during the second half of 2018, followed by real estate activity that grew by 7% in 2018 and contributed to About 25% of the growth achieved during the year.
Al-Muhairi explained that this growth came as a result of the increased demand for renting real estate units, which was affected by the moderate rental prices, which significantly stimulated demand in the Emirate of Dubai.
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