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ABU DHABI / WAM
The UAE’s economic sectors have continued their growth since the start of the current year, according to a digital review of relevant indicators, which encouraged the banking system to fund the activities of various sectors that support the national economy.
Statistics issued by the Central Bank of the UAE show that ten vital economic sectors witnessed considerable growth, reflecting the overall rise of business activity since the start of 2018.
The statistics also show that the construction and real estate sector took the first position among the list of sectors, with its total funding reaching around AED306.6 billion at the start of 2018, an increase of AED8.5 billion compared to the end of 2017.
The real estate sector is a leading sector that supports the national economy, making up 6.4 percent of the country’s non-oil GDP and whose overall value reached AED81.2 billion in 2017, compared to AED79 billion in 2016.
The trade sector, both wholesale and retail, also witnessed considerable activity since the start of 2018, and it received, from banks, around AED157 billion till the end of June, an increase of AED4.5 billion compared to last December.