Abu Dhabi’s 2013 GDP at current prices is estimated at Dh953.2 billion ($259.5 billion), compared with Dh909.7 billion ($247.6 billion) in 2012, representing an annual growth rate of 4.8 per cent, a report said.

Accordingly, the annual per capita gross domestic product amounted to Dh388,600 ($105,775) in 2013, added the Statistical Yearbook (SYB) of the Emirate of Abu Dhabi – 2014 released by Statistics Centre - Abu Dhabi (SCAD), reported Emirates News Agency (WAM).

The total fixed capital formation was Dh193.9 billion ($52.77 billion) in 2013, while compensation of employees amounted to Dh182.4 billion ($49.6 billion) in the same year, said Butti Al Qubaisi, director general of SCAD.

The GDP at constant prices increased by 5.2 per cent in 2013, compared with an increase of 4.8 per cent in 2012. The main activities contributing to economic growth in 2013 included Mining and Quarrying (including crude oil and natural gas), Real Estate and Financial and Insurance, increasing by 3.2 per cent, 12.9 per cent and 11.2 per cent, respectively.

Foreign merchandise trade

Emphasizing the importance of foreign trade, Al Qubaisi noted that net trade in goods was equivalent to 44.3 per cent of the GDP, reflecting the Emirate’s robust and highly developed level of commercial activity and the significance of foreign trade to the economy in general.

“Commodity imports in goods through the ports of the Emirate Abu Dhabi were valued at Dh100.3 billion ($27.3 billion) in 2013 compared with Dh119 billion ($32.4 billion) in 2012,” noted Al Qubaisi.

“The largest imports category during 2013 was ‘Machinery, sound recorders, reproducers and parts’, which accounted for 23.2 per cent of the total value. The US was the top import partner, supplying the Emirate with goods worth Dh12.7 billion ($3.45 billion).

“Non-oil exports amounted to Dh16.0 billion ($4.35 billion), with ‘Base metals and articles of base metals’ contributing 49.7 per cent of the total. Saudi Arabia was the top destination of Abu Dhabi’s non-oil exports, receiving goods worth Dh6.7 billion ($1.8 billion) from the Emirate in 2013,” he added.

“Re-exports in 2013 were valued at Dh16.4 billion ($4.46 billion) compared with Dh14.7 billion ($4 billion) in 2012. The top category during 2013 was machinery, sound recorder, reproducers and parts’, which contributed 48.8 per cent of the re-exports total. Bahrain was the top destination for re-exports worth Dh3.4 billion ($925 million).

“Merchandise imports from Asian countries through the ports of the Emirate of Abu Dhabi declined to Dh43.9 billion ($11.94 billion) during 2013, down from Dh54.4 billion ($14.8 billion) in 2012. Non-oil exports in goods to Asian countries through the ports of the Emirate of Abu Dhabi amounted Dh14.5 billion ($3.94 billion) while re-exports to Asian countries amounted to Dh14.1 billion ($3.83 billion),” Al Qubaisi elaborated.


Foreign Investment

Abu Dhabi’s growth in foreign direct investment (FDI) at the end of 2012 was Dh60.9 billion ($16.5 billion) up from Dh52.2 billion ($14.2 billion) at the end of 2011 “This increase could mainly be attributed to expansions in the mining and quarrying activity, which attracted FDI worth Dh6.1 billion ($1.66 billion) at the end of 2012, compared with Dh1.9 billion ($517 million) t the end of 2011,” said Al Qubaisi.

Real estate and business services accounted for the largest share of FDI at the end of 2012 (40.8 per cent), compared with 42.2 per cent at the end of 2011. Manufacturing industries accounted for the second largest share of total FDI, with 19 per cent at the end of 2012, up from 17.6 per cent at the end of 2011.

Al Qubaisi indicated that FDI from the GCC region amounted to Dh1.8 billion ($490 million) or 3 per cent of total FDI at the end of 2012, compared with Dh2.24 billion ($609 million) or 4.3 per cent at the end of 2011.

Investments from other Arab countries totalled Dh4.8 billion ($1.3 billion) and Dh6.1 billion ($1.66 billion) or 9.2 per cent and 10.1 per cent of FDI for the years 2011 and 2012, respectively, he added.