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FinancialNews
02-04-19
GDP grows by 1.7 percent in UAE
(MENAFN) The UAE registered a 1.7 percent boost in its GDP growth for last year at constant prices, revealed Minister of Economy Sultan bin Saeed Al Mansouri.
This GDP jump is attributed to a raise in oil revenues because of a surge in global oil prices and an enhanced performance in non-oil trade, the economy minister explained.
Economy in the UAE saw a slow momentum in growth as it increased 1.73 percent, even though the GCC state enjoyed acceleration from higher oil process, Al Mansouri noted.
He added that GDP in the UAE increased at real prices to stand at USD392 billion by the end of the year, compared to the USD385.9 billion seen a year earlier.
MENAFN0204201900450000ID1098332688
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