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Abu Dhabi GDP to rise 8.2pc in 2007

ABU DHABI — Gross Domestic Product (GDP), of the Emirate of Abu Dhabi is projected to rise by 8.2 per cent in 2007 and will maintain a steady growth rate of no less than 13 per cent to hit Dh584 billion in 2010, according to a recent report by the Abu Dhabi Chamber of Commerce and Industry (ADCCI).

The report which was published yesterday expected non-oil sectors to keep a steady annual growth of at least 18 per cent.

The share of non-oil sectors in the GDP is expected to rise to Dh163 billion in 2007 up from Dh138 billion in 2006. It will post a phenomenal jump to Dh263 billion in 2010.

Growth in the Emirate’s non-oil sectors is attributed to the huge investments to be pumped in the coming years to develop and boost the Emirate’s various economic sectors which have accounted for 37 per cent of its GDP in 2006, a contribution that is expected to surge to 45 per cent by 2010.

Private sectors’ significant contribution in the economic growth of Abu Dhabi has accounted 17 per cent of the Emirate’s GDP in 2006 and is expected to hit 20 per cent in the years ahead.