543 billion dirhams of Abu Dhabi's output in the first half

The real gross domestic product of the Emirate of Abu Dhabi increased in the first half of this year by 11.2% on an annual basis, to reach 543 billion dirhams.

According to the data of the Statistics Center in Abu Dhabi, the value of the non-oil sectors' GDP increased by 28.4 billion dirhams compared to the same period last year, to reach 273 billion dirhams by the end of the first half of 2022.

Estimates announced by the center indicate that the gross domestic product of the Emirate of Abu Dhabi reached its highest value in 6 years during the second quarter of 2022, as the growth rate reached 11.7% during this quarter compared to the same period last year.

The figures issued by the Statistics Center in Abu Dhabi reflect the strength of the emirate's economy and its ability to maintain its competitive position and continue to grow in light of the challenges in the global economy.

It is estimated that the most prominent economic activities that contributed to the gross domestic product of the Emirate of Abu Dhabi at constant prices during the first half of 2022 were the manufacturing industries by 8.1%, while their growth rate during the same period reached 10.2%.

In the second place came the construction activity by 7.7%, achieving a growth rate of 6.9%, followed by the wholesale and retail trade activity by 5.9%, then financial activities and insurance activities with a contribution rate of 5.5% and a growth rate of 9.1% during the first half of 2022 compared to the same year. period last year.

Mohammed Ali Al Shorafa, Head of the Department of Economic Development - Abu Dhabi, said: “The good growth rates achieved by the Abu Dhabi economy confirm the strength of the basic factors and the success of the economic diversification policy, which contributed to enhancing the flexibility of the local economy and its ability to keep pace with the changes taking place in the global economy, and the challenges resulting from geopolitical factors.” and economic sectors that directly affect strategic sectors such as energy and international trade.