SCAD says Abu Dhabi’s GDP expands 11.2% in 1st half of 2022

Abu Dhabi, The Gulf Observer: SCAD has announced statistical data that show expansion of Abu Dhabi’s GDP in the first half of 2022, reaching 11.2 percent compared to the same period last year.

The growth reflects the Emirate’s robust performance and the ability of the economy to maintain competitiveness and sustain growth despite global economic challenges.

According to estimates announced by SCAD, the quarterly GDP growth rate reached its highest value in six (6) years during the second quarter of 2022 which hit 11.7 percent compared to the same quarter last year.At the end of the first half of 2022, the real GDP value (at constant prices) exceeded AED543 billion, and the value of the non-oil sectors’ GDP increased AED28.4 billion compared to the same period last year to reach AED273 billion in total.

Key Economic Activities that Grew at Constant Prices

The statistical estimates show that all non-oil economic activities and sectors showed positive growth rates at constant prices during the first half of 2022, most notably, the health and social work activity rising at a rate of 29.9 percent, followed by accommodation and food services at a rate of 29.3 percent, and professional, scientific and support services at a rate of 27.2 percent, wholesale and retail trade activity at a rate of 23.7 percent, real estate activities at a rate of 19.1 percent, and electricity, gas, water, and waste management at 18.0 percent, followed by 13.8 percent for transportation and storage.