Abu Dhabi – Mubasher: The UAE's real gross domestic product (GDP) growth went up 4.4% year-on-year during the fourth quarter of 2018, according to recent statistics released by the Central Bank of the UAE.
The increase in GDP was driven by stronger buoyancy in the non-oil sector and accelerated growth in oil production in Q4-18.
Prices were down 10.2% in the final three months of 2018, having risen by 1% 1% in Q3-18, the data showed.
Statistics indicated slower oil prices over the quarter, during which rates increased by 9.8% against 44.5% in the preceding quarter.
Meanwhile, real non-oil GDP remained flexible during the period between October and December, with economic sentiment indicators relatively improving.
Retail loans jumped 8% year-on-year in Q4-18, the central bank added.
