Abu Dhabi achieves significant growth in non-oil GDP in 2021
The statistical data announced by SCAD reflect the rapid growth in most of Abu Dhabi’s oil and non-oil activities at constant prices in 2021, underscoring the effectiveness of economic policies, the robustness of Abu Dhabi’s local economy, and the recovery from the Covid-19 crisis, according to a report conducted by the Emirate Press Agency (WAM).
The center said that the economy of Abu Dhabi recovered from the pandemic’s repercussions, thanks to a large contribution from the non-oil sector, which grew by 4.1 percent in 2021.
According to the data released by SCAD, the oil sector contributed approximately 50.3 percent of Abu Dhabi’s real GDP in 2021.
On the other hand, non-oil activities contributed 49.7 percent of the GDP in 2021.
Growth of non-oil sectors
In 2021, several non-oil economic activities showed positive growth rates at constant prices, most notably the agriculture, forestry, and fishing activity, which expanded by 23.1 percent. Meanwhile, the manufacturing activity expanded by 21.7 percent, health and social service activities by 19.7 percent, arts, entertainment, and recreation by 17.3 percent, wholesale and retail trade by 15.3 percent, accommodation, and food service activities by 14.7 percent, transportation, and storage by 7 percent. In addition, electricity, gas, water supply, and waste management activities expanded by 6.9 percent.
Abu Dhabi overcomes the consequences of the extraordinary global situation
Mohamed Ali Al Shorafa, the Chairman of the Abu Dhabi Department of Economic Development (ADDED) said that Abu Dhabi has managed to overcome the consequences of this extraordinary global situation due to several stimulus initiatives for the business and household sectors. The initiatives, Al Shorafa added, helped the coronavirus-hit sectors to recover and expand while laying the groundwork for a robust economy that can overcome various challenges as well as formulating policies and legislation that keep pace with global changes and support ease of doing business. He noted that these initiatives promoted a stimulating investment environment that can attract talent and innovative entrepreneurs.
Abu Dhabi pursues an ambitious strategy for diversification of the economic base
For his part, Rashed Abdulkarim Al Blooshi, the undersecretary of Abu Dhabi Department of Economic Development (ADDED) said that although oil continues to be an important mainstay for Abu Dhabi’s economy, the emirate pursues an ambitious strategy for diversification of the economic base and income sources to support its sustainable development plans.
Ahmed Mahmoud Fikri, Director General of Statistics Centre – Abu Dhabi, said that this strong growth in key economic activities confirms that the emirate has successfully navigated through the Covid-19 and is rapidly recovering from its repercussions.