UAE GDP grows by 4.4% in the last quarter of 2018:
The UAE’s gross domestic product (GDP) grew by 4.4 per cent in the last quarter of 2018, driven by real growth in the non-oil sector, as well as the rapid growth in oil production, according to the latest estimates issued by the UAE Central Bank.
The central bank’s quarterly review showed a slowdown in oil price growth during the fourth quarter of 2018, with an increase of 9.8 per cent compared to 44.4 per cent in the third quarter of 2018. On a quarterly basis, prices fell by 10.2 per cent compared to an increase of 1.0 per cent in the third quarter.
On a yearly basis, oil production rose in the fourth quarter by 13.1 per cent compared to a 1.0 per cent growth in the third quarter, averaging 3.3 million barrels per day. On quarterly basis, oil production rose by 9.5 per cent in the fourth quarter compared to an increase of 4.3 per cent in the third quarter.
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