The Central Bank of the Emirates revealed that the real non-oil GDP growth during the fourth quarter of 2021 was about 7.8 percent, due to the easing of closures and the decline in restrictions on international transport and travel.
The UAE Central indicated that a 9.3 percent year-on-year increase in oil production in the UAE was achieved in the fourth quarter of last year, in line with the "OPEC Plus" agreement. The bank revealed that the occupancy rate of hotels in Dubai during the fourth quarter of last year reached 82 percent.
According to the report, the non-oil sector continued its upward trend in the fourth quarter of 2021, after easing closures and reducing travel restrictions boosted domestic and global demand.
According to the estimates of the Central Bank, the growth of real non-oil GDP reached 7.8 percent in the fourth quarter of 2021, and on an annual basis it reached 3.8 percent for 2021. The seasonally adjusted average PMI in the UAE increased by 11.3 percent year-on-year in the fourth quarter, making progress in the expansion area to 55.6 in December 2021.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
