Abu Dhabi Shows Expansion of its GDP in First Half of 2022.
Statistics Centre – Abu Dhabi (SCAD) has announced statistical data that show expansion of Abu Dhabi’s GDP in the first half of 2022.
GDP reached 11.2 percent compared to the same period last year.
The growth reflects the Emirate’s robust performance and the ability of the economy to maintain competitiveness and sustain growth despite global economic challenges.
According to estimates announced by SCAD, the quarterly GDP growth rate reached its highest value in 6 years during the second quarter of 2022 which hit 11.7% compared to the same quarter last year.
Abu Dhabi Shows Expansion of its GDP in Key Economic Activities that Grew at Constant Prices:
The statistical estimates that all non-oil economic activities and sectors showed positive growth rates at constant prices during the first half of 2022.
Health and social work activity rose at a rate of 29.9%, followed by accommodation and food services, and professional, scientific and support services.
Wholesale and retail trade activity rose at a rate of 23.7%, real estate of 19.1%, and electricity, gas, water, and waste management at 18.0% followed by 13.8% for transportation and storage.
The leading economic activities that contributed to the Expansion of Abu Dhabi GDP were: manufacturing, construction, and building activity that contributed to the real GDP with 7.7%.
Financial and insurance activities contributed 5.5% to the GDP.
Economy’s positive growth rates in Abu Dhabi reflect the profound strength and success of the economic diversification policy.
Abu Dhabi economy continues to reap the benefits of the effective policies guided by the leadership to strengthen the pillars and foundations of the economy, maintaining a competitive performance while attracting investments.
The vital performance of the Emirate’s economy over the last few years resulted in growth rates in the non-oil sectors during the first half of 2022, reflecting a competitive outlook of Abu Dhabi’s business ecosystem.