New developments in the logistics sector, alongside an increase in non-oil trade, are expected to keep Abu Dhabi’s economy on track for moderate expansion in the coming year, with plans for further diversification set to deliver increasingly balanced growth.
Overall economic growth is expected to be 3.9% for 2012, according to the Abu Dhabi Department of Economic Development (DED), down from 6.8% last year. However, growth in non-oil industries should remain steady for the year at 5.5%, supported by activity in the financial sector, manufacturing and transport, Mohammad Omar Abdullah, the undersecretary of the DED, told local media.
Abu Dhabi has targeted non-oil growth in line with its bid to diversify the emirate’s economy and reduce dependence on oil revenue. Initiatives include a plan to increase non-oil exports from 1% of GDP, which is the current figure, to 11% by 2030.
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