Abu Dhabi – Mubasher: The gross domestic product (GDP) of Abu Dhabi at current prices saw a 6.7% year-on-year increase in the second quarter of 2017, according to a report by the Statistics Centre of Abu Dhabi (SCAD).
Growth in Abu Dhabi’s GDP is the result of a 14.7% rise in value added from oil operations and 3.6% increase from non-oil activities, the report showed.
Non-oil sectors and activities contributed around 70.2% to the emirate’s GDP at current prices, while the oil sector and operations only contributed 29.8% to GDP in Q2-17, the SCAD stated.
The report attributed the year-on-year rise in GDP for corporate sectors in Q2-17 to higher value added from non-financial sector projects by 8%.
The value added by the financial and insurance sector and household activities increased by 0.2% and 5.9%, respectively.
Additionally, the value added by public administration, defence, and compulsory social security grew 0.3%, the SCAD concluded.
