Abu Dhabi's GDP up 5.6% in 2012 - Emirates 24/7

Abu Dhabi's GDP up 5.6% in 2012 - Emirates 24/7:

"Abu Dhabi’s real GDP grew by around 5.6 per cent in 2012 due to strong performance of the non-hydrocarbon sector, but it was below the 9.3 per cent growth achieved in 2011, official data showed on Sunday.

The emirate’s GDP, which accounts for more than two thirds of the UAE economy, also swelled by 7.7 per cent in current prices in 2012, less than a fourth of the growth rate recorded in 2011 when it stood at 32 per cent, showed the figures by the Abu Dhabi Department of Economic Development.

In its annual report for 2012, the Department attributed the slower growth in 2012 to the slight rise in the oil sector in both production and prices compared with 2011.

It showed Abu Dhabi’s real GDP stood at Dh678 billion in 2012 and said that despite the slackening growth in 2012, Abu Dhabi's economy maintained its recovered and returned to its healthy pace, taking advantage of the robust diversification strategy adopted by the emirate’s government in recent years."

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