Dubai Statistics Center (DSC) has revealed that Dubai’s real gross domestic product (GDP) reached AED 389 billion in 2017 compared to AED 379 billion in 2016.
According to DSC, the growth was fueled by the performance of strategic sectors that accounted for 72.2% of total growth in 2017. The transportation and storage sector was the biggest contributor to total economic growth at 18.5%, surpassing wholesale and retail trade, traditionally the largest sector in the emirate. The wholesale and retail trade sector’s contribution to growth stood at 8.3%.
Wholesale and Retail Trade
Arif Al Mehairi, Executive Director of the Dubai Statistics Center, stated: “Wholesale [...]
Despite softening slightly in September, growth in the UAE’s non-oil private sector remained sharp and marked the strongest quarter recorded for two years. The latest improvement in business conditions was driven by above-average expansions in both output and new orders. That said, new business from abroad slipped back to contraction, indicating that the recovery was driven by domestic demand. On the price front, output charges fell, whilst input price inflation softened to a four-month low.
The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private [...]
Business leaders in Dubai are more positive about their expectations of business conditions and business confidence in the third quarter of 2017, according to a new survey conducted by the Dubai Chamber of Commerce and Industry.
The Business Leaders’ Outlook Survey revealed that 39% of respondents expect to see business conditions improve in Q3-2017. Around 43% of surveyed business leaders expected no change in business conditions, while 18% expected conditions to worsen over the same period.
The survey revealed that 45% of business leaders expected business confidence to strengthen in the third quarter of this year, compared to the 37% who predicted no change and 18% [...]
Companies operating in Dubai’s private sector experienced a further improvement in business conditions at the start of the second quarter. This was indicated by the seasonally adjusted Emirates NBD Dubai Economy Tracker Index – a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – rising from 56.6 to 57.7. Moreover, the headline index signalled the fastest upturn in operating conditions in 26 months.
April data indicated robust performances across all three key sub-sectors monitored by the survey, led by an accelerated upturn in construction (index at 57.9), closely followed by wholesale & retail (57.8) [...]