Abu Dhabi nominal GDP down 18%

11 August 2010

According to preliminary data published in the Abu Dhabi Statistics Centre's yearbook, the emirate's economy shrank 18% in nominal terms in 2009, but analysts attributed much of the drop to lower oil prices and said real activity may not have shrunk by that amount, Reuters has reported. Nominal gross domestic product fell to Dhs546.476bn ($148.775bn) last year from Dhs666.732bn in 2008, the data showed. Analysts have said the emirate managed moderate growth in real terms last year.

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