Emirates citizens' wealth rises 16 per cent in 2008

04 September 2009

UAE GDP per capita up 16 per cent in 2008

The UAE’s gross domestic product (GDP) per person climbed 16 per cent in 2008, to AED196,100 ($53,300), buoyed by the high average oil price for the year, figures from the Economy Ministry show.

However, GDP per person will probably fall in 2009 as a result of the contraction in the economy.

The Economy Ministry figures put total GDP for 2008 at AED934.3bn.

Saudi Arabia’s Samba predicts this will fall to AED792bn in 2009.

Excluding the oil sector, the UAE’s GDP was AED590.1bn.

The report put inflation for 2008 at 12.3 per cent. Abu Dhabi contributed 55.7 per cent of 2008 GDP, with Dubai contributing 32.3 per cent.

In the last five years, GDP per person has more than doubled from AED90,600bn in 2003 to AED196,100 in 2008.

The figures also showed that total disposable income per person has risen to AED182,600.

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