Abu Dhabi – Mubasher: The gross domestic product (GDP) of the UAE emirate of Ras Al Khaimah reached AED 35.1 billion in 2016, according to a report by the Ras Al Khaimah Department of Economic Development .
The emirate’s GDP grew 3.1% at current prices and 3.5% at constant prices this year.
The GDP is backed by the emirate’s ability to achieve positive growth in the past years despite the repercussions of global geopolitical development and oil price decline.
In late 2016, Fitch Ratings has affirmed Ras Al Khaimah's long-term foreign and local currency issuer default ratings (IDRs) at "A", with a “Stable” outlook. The emirate’s short-term foreign- and local-currency IDRs were also affirmed at “F1”.
