UAE economy grew by 5.2% in 2013

The UAE’s economy up by 5.2 per cent in 2013 partially driven by oil output and good prices, according to a statement by the National Bureau of Statistics (NBS). The country’s real gross domestic product (GDP) touched Dh1.087 trillion in 2013 from Dh1.03 trillion in 2012. It grew by 4.4 per cent in 2012. GDP at current prices, meanwhile, stood at Dh1.477 trillion last year compared to Dh1.367 trillion in 2012. Real GDP is an inflation-adjusted measurement for goods and services product in a specific year. Non-oil GDP touched Dh731.789 billion, while oil GDP stood at Dh355.457 billion, according to NBS. The non-oil sector accounted for 67.3 per cent of the UAE’s real GDP last year.