UAE Non-Oil GDP Hikes Steadily

Transformational industries' contribution to non-oil GDP increased to 11.8 per cent by fixed prices until the end of 2017 from 11.7 per cent in 2016 and 11.5 per cent in 2015, according to the UAE Ministry of Economy's statistics.

The growth reflects the significant achievements made by the transformational industries over the past five years, during which they have become a key pillar of the economic diversification plans, according to a WAM report.

The UAE government has managed to ensure robust infrastructure for these industries over the past years, which has provided investment-friendly legislation for the industrial sector as a whole in a way that has earned the country a prestigious position across the region and the world.

Recent studies indicated that Abu Dhabi is planning to increase the industrial sector's contribution to the emirate's GDP to 25 per cent by 2030, WAM said.

Al Bawaba Contribution Time: 03-Sep-2018 13:17 (GMT)
Al Bawaba Last Update Time: 03-Sep-2018 13:17 (GMT)