The numbers revealed by the UAE's Federal Competitiveness and Statistics Authority show GDP growth of 0.8% for last year at constant real prices compared to 2016.
Sultan Bin Saeed Al Mansouri, Minister of Economy, pointed out that "preliminary estimates indicate the growth of the economic performance of the country in general, depending on the growth in oil resources resulting from the rise in international oil prices on the one hand and growth in the non-oil sectors on the other hand," pointing to " economic diversification and expansion of the economic production base, and the importance of activating initiatives and activities that will increase reliance on non-oil sectors and enhance their contribution to the country's GDP. "
According to the data, the GDP estimate for 2017 at real prices (base year 2010) is approximately AED 1422.2 billion in the UAE, compared to approximately AED 1411.1 billion at the end of 2016. On the level of economic diversification and the relative importance of economic activities in GDP, GDP at current prices of non-oil sectors amounted to approximately 1092 million dirhams, with a growth rate of 3.2% at current prices and 2.5% in real fixed prices at the end of 2017 compared to 2016.