May 26, 2022

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Emirates News Agency - Statistics - Abu Dhabi: Abu Dhabi Emirate's real "non-oil" GDP growth to be 4.1% in 2021

Emirates News Agency – Statistics – Abu Dhabi: Abu Dhabi Emirate’s real “non-oil” GDP growth to be 4.1% in 2021

– Statistics – Abu Dhabi: The real “non-oil” GDP growth of the Emirate of Abu Dhabi will be 4.1% in 2021.

The economy of the Emirate of Abu Dhabi is expected to recover from the effects of the Corona epidemic by 2021, with the major contribution of the non-oil sector.

– Non-oil sector at steady prices will achieve 4.1% positive growth in 2021 – Non-oil sector growth will be 19.7 billion dirhams compared to 2020 and real GDP value of about one trillion dirhams by 2021.

– The increase in the contribution of the non-oil sector to the real GDP reached 49.7%, which reflects the efforts made at the level of sustainable growth.

The recovery of the most important economic activities affected by the outbreak of the corona epidemic, led by: manufacturing industries, 21.7%, health and social service activities 19.7%, trade activities 15.3%, and shelter and food service activities, 14.7% at fixed prices by 2021.

– Muhammad Ali Al-Shurafa: Due to the quick adoption of the wise economic policies of the intelligent leadership in the Emirate, the Emirate was able to cope with the effects of the exceptional global environment, including packages that boost productivity and domestic and improvement. External demand.

Rashid Abdul Karim Al Balushi: With the expectation that the growth rate of the non-oil economy will rise in the current year, there are many indicators that reflect the good performance of the emirate’s economy.

– Ahmed Mahmood Fikri: The strong growth of economic activity reflects the rapid recovery of Abu Dhabi’s economy from the effects of the Kovit-19 epidemic, thanks to the large and direct impact of the initiatives of rational leadership.

Abu Dhabi, April The performance of economic policies and the strength of the local economy of the Emirate of Abu Dhabi and the recovery from the effects of the Govt-19 crisis.

GDP at a fixed price.

Abu Dhabi Emirate’s GDP growth is projected to reach a positive growth rate of 1.9% in 2021 compared to 2020, while non-oil GDP at a fixed price of 4.1% is expected to reach a positive growth rate. In the same year .. Many non-oil economic activities and sectors were able to achieve positive growth rates at constant prices at different rates last year, the most important of which was agriculture, forestry and fisheries activity, which reached a growth rate of 23.1%. Manufacturing industries activity with a growth rate of 21.7%, and health and social service activities 19.7%, arts, entertainment and recreation activities 17.3%, wholesale and retail activities 15.3%, accommodation and food service activities 14.7%, transport and storage activity 7%, and Electricity, gas, water and waste management activities 6.9%.

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In this context, His Excellency Mohammed Ali Al Shurafa, Head of the Department of Economic Development in Abu Dhabi, said: “The Emirate has been able to cope with the effects of the exceptional global environment thanks to the prudent economic policies of the Rational leadership in the United Arab Emirates. Taken at the right time, it includes a number of stimulus packages aimed at the business and family sectors, which have made significant contributions to accelerating the pace of growth and pushing the economy to the point of recovery and from there to the stage of expansion. It has been instrumental in consolidating the foundations of a strong competitive economy capable of meeting various challenges, formulating policies and laws in line with global change, and promoting a conducive and attractive environment and facilitating business. For investment, talent and innovative entrepreneurs, this is clearly reflected in the GDP results for 2021 – Statistics Center – Abu Dhabi.

For his part, His Excellency Rashid Abdul Kareem Al Balushi, Undersecretary for Abu Dhabi’s Department of Economic Development, praised the results of Abu Dhabi’s economic performance in 2021: it is in the interest of intelligent leadership to closely adapt to emerging conditions. , And the continued adoption of all that protects the economic sectors, and safe and sustainable transport to the post-Govt-19 phase, the direct impact on achieving positive results and the rapid and record rates of recovery and economic growth.

He stressed that any reading of the realities and opportunities of the Abu Dhabi Emirate’s economy confirms that this economy, which has made great strides in growth and diversity in a short period of time, is moving from strength to strength. In the presence of prudent management, there will be optimal opportunities to benefit from past experiences in its quest for exploitation. Abu Dhabi Despite the importance of oil to the emirate’s economy, the emirate pursues an ambitious strategy to diversify its economic base and sources of income, thus contributing to the sustainable growth of the emirate.

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For his part, His Excellency Ahmed Mahmoud Fikri, Director General of the Abu Dhabi Center for Statistics, said: “This strong growth in key economic activities confirms Abu Dhabi’s leadership in dealing with the Kovit-19 epidemic and the speed of recovery from its effects. Epidemiology, and the planning of wise leadership, show better performance and clarity of vision and guidance on the impact on the pace of economic recovery.

Contribution of oil and non-oil sectors to GDP.

Statistics Center – According to data released by Abu Dhabi, the contribution of the extraction industries, including crude oil and natural gas, was approximately 50.3% of Abu Dhabi Emirate’s GDP by 2021, while the contribution of non-oil activities to Abu Dhabi Emirate’s GDP by 2021.7% in 2021 , Although oil prices in global markets have risen significantly over the same period, the Emirate of Abu Dhabi clearly confirms this. Reached advanced stage in the search for diversification of economic base and sources of income in line with ambitious strategic plans.

Impact of the Govt-19 epidemic on the local economy by 2020.

Abu Dhabi Emirate’s economy, like other regional and global economies, has been affected by the effects of the Govt-19 epidemic and its associated closures in 2020, in addition to a significant decline in oil prices in global markets. Abu Dhabi Emirate’s GDP fell 7.7% at a fixed price that year, while gross oil production fell 3.9% and non – oil production fell 11.5%. These percentages are moderate compared to other economies and the harsh conditions the world has experienced under epidemics.

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It is noteworthy that Abu Dhabi Emirate’s GDP Statistics Center – is one of the most important indicators published by Abu Dhabi because they have an important input in the planning process for sustainable development. Economy of the Emirate of Abu Dhabi.

Incentive packages to reduce the impact of the corona epidemic on the Abu Dhabi economy.

The Abu Dhabi government responded quickly to the economic challenges posed by the global epidemic, launching an economic stimulus package in Abu Dhabi in March 2020, which included 16 different initiatives within the “Tomorrow 21” program. Reducing the impact of the Govt-19 epidemic on the economy, whether in the United States, at the level of individuals or organizations, is a continuation of financial growth, safeguarding economic gains, reducing the cost of living and providing financial assistance in the current context.

Abu Dhabi’s economic stimulus package includes registration fees for commercial vehicles until the end of 2020, cancellation of transportation gate gate fees, real estate registration and document fees and suspension or reduction of auction bonds, and reduction of industrial land rental fees by 25. % And abandon all commercial and industrial violations.

The package provided benefits to citizens, small, medium and growing companies, allocating 5 billion dirhams to support electricity and water, especially to the business and industrial sectors, and 3 billion dirhams for loan guarantees to encourage financing for small and medium enterprises. It also exempts start-ups from the guarantee of good implementation, while setting up a committee to review borrowing options to support local businesses in borrowing programs.

The benefits offered to the tourism sector include the cancellation of all travel and municipal charges for the tourism and entertainment sectors, as well as a cashback of up to 20% on the rental value. As for the money markets, they benefited from the one billion dirhams set aside to establish the “market maker” fund to create a continuous balance between the supply of cash and the supply and demand for shares.

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