Dubai – Mubasher: Dubai’s real gross domestic product (GDP) grew 1.94% year-on-year to AED 398.13 billion during the full-year 2018, Dubai Statistics Center (DSC) said in a recent statement.
The competitiveness of the emirate’s markets and the efficiency of its economy have stimulated demand, which propped up the capacity of different economic sectors, Arif Al Muhairi, executive director of DSC, said.
He added that catalysts played a role in boosting the emirate’s economy to 2.2% in the second half of 2018, compared to 1.7% during the first half of the same year.
The increase in GDP was attributed to the growth of trade activity, which levelled up 1.3% year-on-year in 2018, acquiring 30% of the GCC emirate’s total GDP.
The real estate sector came in second place with 7%, representing 25% of Dubai’s total GDP.
