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UAE GDP Rises from Dh6.5b in 1971 to Dh730b in 2007
DUBAI - UAE Minister of Economy, Sultan bin Saeed Al Mansouri said that the country’s GDP rose from Dh6.5 billion in 1971 to Dh 730 billion in 2007, an increase by 112 times, which helped in further establishing the nation’s economic stature on the world map.
The Minister of Economy said that the significant economic achievements of the UAE owe to the visionary leadership of the late Shaikh Zayed bin Sultan Al Nahyan, late Shaikh Rashid bin Saeed Al Maktoum and other leaders. Al Mansouri explained that the UAE economy has moved to a global level led by the diversification into tourism, trade and services, which in turn has established a platform for inward international investments.
“Tourism has played a crucial role in the economic growth of the UAE with the number of tourists reaching over 7 million supported by the country’s developed infrastructure and economic openness,” said the Minister, in an interview with Sama Dubai on the occasion of the UAE National Day.
He added: “Currently, the industrial sector contributes to more than 27 per cent to the GDP and we have clear directives to empower this sector to enable it to be a main contributor to the local economy.” Al Mansouri stressed that the leadership has always accorded priority in launching several pioneering development projects, especially in healthcare, education and infrastructure development, which have played an instrumental role in laying the fundamentals for robust socio-economic growth. Mansouri said that today, the UAE national income is among the highest in the world. — Staff Report
williamfaria@khaleejtimes.ae
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