The latest AbuDhabi GDP estimates for Q2 2023 are in

The latest AbuDhabi GDP estimates for Q2 2023 are in

Posted on 3 October 2023

They speak volumes about the dynamism and resilience of Abu Dhabi’s #economy.

The non-oil sector surged by a remarkable 12.3%, propelling the total GDP to a 3.5% increase compared to the same period in 2022.

Non-#oil activities in Abu Dhabi achieved a milestone, with real non-oil GDP reaching a record-breaking $41.9 billion, the highest since 2014.

The preliminary figures indicate that Abu Dhabi’s real GDP in Q2 2023 soared to an all-time high of $78.1 billion, driven by robust growth in non-oil sectors. This surge boosted their contribution to the GDP to an impressive 53.7%, reflecting a 9.2% growth in H1 2023 compared to the previous year.

In a global economic landscape filled with #challenges, Abu Dhabi’s economy remains steadfast, a testament to its #diversification#strategy and adaptability. Forward-looking strategies, prudent policies, and a #business-friendly ecosystem are elevating Abu Dhabi to new heights as an economic powerhouse and a preferred destination for #talent#businesses, and #investments.

The success story of Abu Dhabi’s economy is attributed to visionary strategies, including the Abu Dhabi #Industrial Strategy, which has rapidly transformed the #manufacturing sector, making it the region’s most competitive industrial hub.

Key sectors like #construction#manufacturing, and #financial activities have demonstrated exceptional growth, solidifying Abu Dhabi’s economic performance on the global stage. Construction saw a year-over-year growth rate of 19.1%, manufacturing rose by 7%, and financial activities recorded a remarkable 29.7% growth rate.

The statistics speak for themselves – Abu Dhabi’s economic prowess continues to shine in various sectors. These impressive numbers underscore the attractiveness of Abu Dhabi as an investment destination.

Abu Dhabi’s strategic vision and unwavering commitment to growth are shaping a prosperous future, with economic activities like #information#communications#public#health#finance#transportation#accommodation, and #food services all flourishing.

This remarkable growth reflects the positive impact of Abu Dhabi’s forward-thinking economic policies and its dedication to developing essential services for its people.

SOURCE&CREDITS: Mohamed Alzaabi – Linkedin

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