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ABU DHABI / WAM
The gross domestic product (GDP), at current prices, for Abu Dhabi, increased by 12.9% in the fourth quarter (Q4) of 2018 compared with the same period in 2017, according to estimates released by Abu Dhabi Statistics Centre (SCAD).
In 2018, SCAD estimated the GDP, at current prices, grew by 14.5% to AED931.2 billion from AED813.6 billion in 2017 while GDP, at constant 2007 prices, rose 2% to AED797.3 billion from AED 782 billion in 2017.
This increase in economic activity could mainly be attributed to the value added by oil activities, which rose by 33.0%. At the same time, the value added by non-oil activities increased by 1.6% in Q4, 2018 following an annual growth rate of 2.1% in Q3, 2018.
Compared with the previous quarter, the GDP at current prices increased by 2.3% in Q4, 2018. The value added by oil activities, which rose by 2.5%, contributed most to this increase. Non-oil activities recorded an increase of 2.1% in Q4, 2018 compared with the Q3, 2018. GDP measured at constant prices increased by 3.7% in the Q4, 2018, compared with Q4, 2017. The value added at constant prices of non-oil activities decreased by 1.1% while oil activities increased by 8.9% .
Compared with the previous quarter, the GDP at constant prices increased by 2.2% in Q4, 2018. The value added by oil activities increased by 3.2%, while non-oil activities recorded an increase of 1.2% in Q4, 2018 compared with Q3, 2018.
The value added by the ‘non-financial’ sector increased by 14.3% from AED 178,628 million in Q4, 2017 to AED 204,213 million in Q4, 2018. Its contribution to total GDP was 83.0% in Q4, 2017 and 84.1% in Q4, 2018.
The value added by the ‘financial companies’ sector increased by 9.0% from AED 18,912 million in Q4, 2017 to AED 20,620 million in Q4, 2018. Its contribution to total GDP decreased from 8.8% in Q4, 2017 to 8.5% in Q4, 2018.
The value added by the ‘general government’ sector increased by 1.8% from AED 16,219 million in Q4, 2017 to AED 16,519 million in Q4, 2018. Its contribution to total GDP decreased from 7.5% to 6.8% over the same period.
The value added by the ‘household’ sector increased by 8.0% from AED 1,437 million in Q4, 2017 to AED 1,552 million in Q4, 2018. Its contribution to total GDP decreased from 0.7% to 0.6% over the same period.
Quarterly GDP at current prices measures the value of products and services produced by the economy during a given quarter after deducting the intermediate goods and services consumed as inputs in the production processes. GDP at current prices consists of two components, a price and a volume (or quantity).