Dubai’s economy up 4.2% in first quarter

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Dubai’s economy retained its progress and increased by 4.2% in the first quarter of 2014, with all non-oil sectors recording an upsurge.

Dubai’s economy up 4.2% in first quarter

Dubai’s economy up 4.2% in first quarter

The emirate’s actual GDP went up to around Dh84.6 billion in the first quarter of 2014 from Dh81.3 billion in the first quarter of 2013.

Progress affected all divisions; the continuous development in Dubai is a result of the practical policies and initiatives adopted by the government to enlarge the domestic productive base, mainly growth-oriented areas like tourism, logistics, trade and financial services.

The statistics showed light industries increased by 6.8% and contributed 13.5% to the Emirate’s GDP. Progress stood at 5.2% in transport, storage and communications, 5.1% in realty and business services, 4.1% in retail and wholesale trade, the biggest part of GDP with a share of 27.4%.

The information proved hotels and restaurants went up by 3.9%t while the financial division increased by almost 1.2% in the same period.

Mohamed Dekkak