Business News
Abu Dhabi statistics point to stable economic growth in 2019
May
Dubai: Emirate of Abu Dhabi managed stable economic growth in 2019 according to Statistical Yearbook of Abu Dhabi 2020, published by the Statistics Centre – Abu Dhabi (SCAD).
Several activities highlited by the Statistical Yearbook showed that Abu Dhabi managed to achieve a high level of economic stability in 2019.
According to SCAD’s estimates, the Gross Domestic Product (GDP) at constant prices grew by 1.5 per cent in 2019 to Dh803.56 billion compared with Dh792 billion 2018.
Per capita GDP at constant prices grew by 10.2 per cent to Dh313.1 thousand in 2019, up from Dh 284.1 thousand in 2018. The Gross Fixed Capital Formation for the year was Dh142.40 billion.
According to official data oil accounted for only 40.8 per cent of Abu Dhabi’s GDP in 2019 and this points to the successful progress of the Emirate’s plans to expand the economic base and diversify the sources of income, SCAD.
Image Credit: SCAD
Data showed compensation of employees at current prices increased from Dh248.66 billion in 2018 to Dh250,749 million in 2019. The main contributing groups to the rise observed in 2019 were electricity, gas, water and waste management activities, “arts, recreation, and other services and transportation and storage.
The Abu Dhabi Government’s commitment to facilitate business activities in various sectors, has resulted in building a diversified and resilient economy.
A total of 18,452 new business licenses were issued in 2019. Manufacturing industries accounted for 6.3 per cent of the preliminary estimates of GDP in 2019, and 10.6 per cent of the preliminary estimates of non-oil GDP in 2019.
The number of fixed-line internet subscribers per 100 inhabitants was 29, while the number of fixed telephone subscribers per 100 inhabitants stood at 17 in 2019. Data showd there were 168 hotel establishments in Abu Dhabi in 2019, they hosted around 5.1 million, an increase of 2.1 per cent over 2018. The hotels occupancy rate was 72.9 per cent from 71.8 per cent in 2018.
“SCAD’s is committed to the provision of high-quality statistical data in accordance with the international best practices, to reflect the performance of the main sectors that drive development in Abu Dhabi on an annual basis to meet the needs of data users, including officials, decision-makers, researchers and stakeholders,” said Abdullah Ahmed Al Suwaidi, Acting Director-General of SCAD.