Abu Dhabi's non-oil economy expanded by 12.3 per cent in the second quarter of 2023 compared to the same period in 2022, while the total GDP grew by 3.5 per cent.
According to the Statistics Centre – Abu Dhabi (SCAD), non-oil GDP in Q2 2023 reached AED 154 billion, which is the highest since 2014.
The value of the emirate's total real GDP in the second quarter also hit a record AED 287 billion.
The strong growth of non-oil activities increased the sector's contribution to the GDP to 53.7 per cent.
This also boosted the growth of Abu Dhabi's non-oil GDP by 9.2 per cent in the first half of 2023 compared to the same period last year.
"Our comprehensive strategies, prudent policies, countercyclical measures, and business-friendly ecosystem further enhance Abu Dhabi’s position as a rising economic powerhouse and preferred destination for talents, businesses and investments," said Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development.
.@ADStatistics has reported that Abu Dhabi’s non-oil economy grew by 12.3 per cent in Q2 2023, compared to the same period in 2022, demonstrating the strength of #AbuDhabi’s Falcon Economy and diversification of economic activity in the emirate. pic.twitter.com/UovXhJuvoY
— مكتب أبوظبي الإعلامي (@ADMediaOffice) October 2, 2023
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