Official data showed the growth of the non-oil sector of the emirate of Abu Dhabi during the third quarter of 2023 by 7.7%, compared to the third quarter of 2022, supported by Abu Dhabi’s comprehensive strategy to strengthen the emirate’s position as an influential economic force.
According to the statistics center in Abu Dhabi, most of the non-oil sectors continued to achieve significant growth rates, reaching the value of their contributions to the overall economy to 52.8%, despite the volatility of oil and gas markets globally.
With the growth in the performance of non-oil economic activities, Abu Dhabi’s economy achieved its highest quarterly value of AED 290.5 billion (about USD 79.1 billion), and the emirate’s real GDP during the third quarter of 2023 maintained a positive growth rate of 1% during this period, compared to the third quarter of the previous year, despite the decline in oil prices.
It is estimated that the real GDP grew by 2.8% during the first nine months of 2023 compared to the same period in 2022, and the expansion of non-oil activities continued during the same period, where the non-oil GDP growth rate reached 8.6%.
