He attributed the growth observed by the economic sectors of the emirate of Abu Dhabi during the year 2022 to the well-established economic framework, which is characterized by a great capacity to cope with global changes, in addition to a close cooperation between the public and the private sector. sectors, which have strengthened the international position of the emirate of Abu Dhabi, and demonstrated its competitiveness thanks to what its economic climate has known, of great stability in the face of the challenges facing the global and regional economies.
Diversification Strategy This growth reflects the efforts made by the Emirate of Abu Dhabi through the Department of Economic Development to achieve the objectives of the Diversification Strategy, as it strives to establish an enabling and stimulating economic environment for enterprises, to develop an advanced regulatory framework and to achieve an infrastructure and communication system at the international level, which strengthens its capacities to achieve intelligent and sustainable economic development.
Furthermore, Abu Dhabi has adopted strategic measures to diversify its economy while adopting a sound financial policy which has contributed to proactive adaptation to global market trends. This included many initiatives to improve legislative and regulatory frameworks to attract foreign direct investment and to support and encourage local investment.
Abu Dhabi’s industrial strategy, launched in June 2022, is helping to strengthen economic diversification efforts, cementing the emirate’s position as the most competitive industrial hub in the region by investing 10 billion dirhams in a number of number of programs to increase the size of the sector to 172 billion dirhams and provide 13,600 jobs Contribute to increasing the emirate’s non-oil exports to 178.8 billion dirhams by 2031, through several initiatives aimed at supporting industrial financing, improve the ease of doing business, attract foreign direct investment, improve opportunities to benefit from advanced infrastructure and facilities, and support cooperation with local and international partners.
Ahmed Al Zaabi, Chairman of the Department of Economic Development Abu Dhabi, said: “The continued strong performance of Abu Dhabi’s economy is proof of the correct vision of our wise leadership and the effectiveness of the strategy. of economic diversification, which has helped to strengthen partnership between the public and private sectors and stimulate local and foreign direct investment.
He hailed Abu Dhabi’s achievements and strengthened its position as a preferred global destination for business, investment and skills, and as a base for the next stage of the economic diversification process. He said: “This inspires us to pursue serious efforts to develop and adopt flexible policies to deal with geopolitical, economic, scientific and technological developments that are helping to reshape the global economy…and in line with the model of” “hawk economy” which is characterized by accelerated growth, diversification and economic openness through a strategic vision that puts human development at the forefront At the top of its priorities, we continue our efforts to accelerate the use of digital transformation , innovation and technology in economic and social plans.
Non-oil GDP For his part, Abdullah Al Qamzi, Acting Director General of the Statistics Center – Abu Dhabi, said: “The Emirate of Abu Dhabi has achieved remarkable growth rates in its non-oil GDP, registering an increase significant growth of 8.4% by the end of 2022. This growth is due to the strategic policies of the leaders These sound measures prioritize economic diversification, engagement of private sector participation and investment Optimal in human capital These measures have contributed to strengthening the capacity of the emirate’s economic environment to face various challenges and consolidate Abu Dhabi’s position at the regional and international levels.
He added: “In light of what has been shown by Abu Dhabi’s gross domestic product estimates for the year 2022, all economic sectors have seen significant growth, with outstanding performance for major sectors, which reflects the strength and sustainability of Abu Dhabi’s economy, and establishes a promising future full of investment opportunities:
According to estimates issued by the Statistics Center – Abu Dhabi, real GDP during the fourth quarter of 2022 increased by 5.9%, worth 278.3 billion dirhams, compared to the same period in 2021, and the contribution of non-oil activities sectors to GDP reached 50.2%, recording 139.6 billion dirhams of total value to GDP during the fourth quarter of 2022.
According to GDP estimates for the year 2022, the value added of the non-oil sectors increased by around 43 billion dirhams at the end of 2022, to reach 554.6 billion dirhams, with a contribution of 50.0% of GDP .
Real estate activities in Abu Dhabi have seen a remarkable increase of 17.1% compared to 2021, and this growth is due to the increase in real estate projects during 2022, and the interest of international investors to invest in this strategic sector, according to Emirates News Agency.
The growth rates of health and social services activities in Abu Dhabi increased by 16.6% in 2022, which clearly demonstrates the serious efforts of the emirate to strengthen the health system in accordance with the highest international standards and to activate the role of the private sector in developing the readiness of the health system in terms of service delivery and the quality, competence and adequacy of the medical workforce.
Wholesale and retail tradeWholesale and retail trade activity in Abu Dhabi achieved a growth rate of 11.6% in the year 2022, with the value added of this activity reaching 58.6 billion dirhams, and a contribution to Abu Dhabi’s GDP of 5.3%, reflecting the significant growth seen by local markets in the emirate.
The added value of the transport and warehousing activity exceeded 18.6 billion dirhams during the year 2022, this activity having recorded a growth of 10.9%.
This segment comprises several activities, including the transport of passengers and goods by rail, land, air and sea, and related storage activities, while the accommodation and catering activity in Abu Dhabi has experienced a rate of growth of 11.9% in the year 2022, in clear evidence of the recovery of the tourism sector in the emirate, which is one of the best tourist destinations in the world.
Manufacturing industriesManufacturing activities in Abu Dhabi recorded a growth of 9.7% in 2022, as it contributed 8.2% to the gross domestic product of the emirate and its added value reached 90.8 billion dirhams .
These activities are expected to continue to grow, benefiting from Abu Dhabi’s ambitious industrial strategy, which aims to drive economic growth and contribute significantly to improving the emirate’s trade with markets. international. Building and construction activity in Abu Dhabi reached a remarkable growth rate of 7.6% in 2022, as it reached 86 billion dirhams, and this growth reflects its significant contribution to Abu Dhabi’s GDP , with a value of 7.8%.
Financial and insurance activities in Abu Dhabi have experienced a remarkable growth of 7.4%, amounting to 62.4 billion dirhams in the year 2022, which represents 5.6% of the GDP of the country. emirate, as the growing confidence of the international community in the economic potential of the emirate of Abu Dhabi has consolidated its position as a preferred destination for investors and businessmen and other professionals from around the world.
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