x Abu Dhabi, UAEMonday 24 July 2017

Chamber of Commerce predicts 3.8% growth for Abu Dhabi

Abu Dhabi's economy will expand to Dh567.3 billion next year the emirate's Chamber of Commerce predicted today.

Abu Dhabi's GDP will rise 3.8 per cent next year, according to a forecast by the emirate's chamber of commerce.

The capital's economy will expand to Dh567.3 billion (US$154bn) next year in constant prices, which take into account changes in values and volumes over time, said a report by Abu Dhabi Chamber of Commerce and Industry.

The report said it expected the emirate's non-oil sector to record faster growth, expanding 5.1 per cent to reach Dh258.5bn next year.

Non-oil sectors of the economy like manufacturing, property and trade account for more than 45 per cent of the emirate's economy.

The report said it expected Abu Dhabi's population to rise 6.2 per cent to 2.93 million next year. Accounting for a considerable portion of the increase would be workers, with their numbers rising 5.2 per cent to 1.49 million.

It forecast the number of those working in production sectors to rise five per cent to 608,900 next year. Workers within the services sector would increase six per cent to 881,600.