UAE GDP grew 2.9% in 2019

Sunday, 23 February 2020 19:54

The UAE's economy grew by an estimated 2.9 per cent in 2019.

That's according to the latest data from the Central Bank, which says the overall rise in Gross Domestic Product (GDP) was driven by the 7.6 per cent growth in the oil sector.

Meanwhile, the non-oil industry expanded by 1.1 per cent.

The report also shows that private sector employment during the fourth quarter of 2019 registered a 2 per cent increase year-on-year.

As many as 38,765 new jobs were created during Q4, which was the highest growth in the last seven quarters.

More from Business

UAE economy expands 6.2%, GDP reaches AED 1.9 trillion

The UAE economy continues its strong growth trajectory, with the country's GDP expanding by 6.2 per cent in 2025 to reach AED 1.9 trillion.
UAE highlights trade, logistics cooperation at Eurasia forum

Representing UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi attended the Eurasia Economic Forum in Astana, Kazakhstan.
UAE explores Caribbean trade partnership at regional summit

The UAE is exploring closer economic ties with Caribbean nations after taking part as a special guest at a major regional foreign ministers’ meeting in Suriname.
Ferrari aims to prove doubters wrong after divisive EV debut

If Ferrari wanted to grab the world's attention with the Luce, its first all-electric car, mission accomplished - even if much of the reaction has been shock and outrage.