Abu Dhabi GDP soars 29.9% to Dh800b in 2011

Statistics Centre ? Abu Dhabi, or Scad, on Saturday said Abu Dhabi?s gross domestic production, or GDP, at current prices grew by 29.9 per cent from Dh620 billion in 2010 to Dh806 billion in 2011.

While releasing preliminary figures shedding light on the key developments in Abu Dhabi economy, Scad said the results demonstrate that the emirate?s economy has bounced to levels above those that dominated prior to the global financial crisis, giving it a huge competitive advantage and boosting its appeal to local and foreign investors.

?These are the first detailed figures confirming that the emirate?s economy has evidently overcome the repercussions of the global financial crises, posting significant growth all activities and sectors, both oil and non-oil. Growth in the GDP at current prices during 2011 surpassed all the forecasts and estimates made by local and international parties,? Scad said.

According to Scad, the robust growth presents unequivocal proof that the Emirate of Abu Dhabi has fully recovered from the impacts of the global economic crisis, with data indicating record gains of Dh186 billion during the year 2011, which saw GDP at current prices grow to Dh806.031 billion, up from Dh620.316 billion in 2010.

via Business – Abu Dhabi GDP soars 29.9% to Dh800b in 2011.