1. Economy. Economic Aggregates. Merchandise Foreign Trade. Prices. Financial Statistics. Government Finance. Wages and Compensation

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1 1. Economy Economic Aggregates Merchandise Foreign Trade Prices Financial Statistics Government Finance Wages and Compensation Foreign Investment 12 Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi

2 1. Economy Economic development and reform are accorded particular attention by the supreme leadership. This sustained care, along with the competitive edge the emirate enjoys, have placed Abu Dhabi s economy in an advanced position regionally and internationally. The Gross Domestic Product (GDP) is one of the most important economic indicators; it comprises the total of all goods and produced in an economy, minus intermediate consumption. It is also defined as the total value added to the economy by resident producers during the year. Over the course of the past few years, the Emirate of Abu Dhabi has contributed 60% of the country s GDP, although, in terms of the population, Abu Dhabi is home to only 34% of the UAE population according to the 2005 census. The tables and graphs presented in this chapter of the book describe the performance of all economic activities in the Emirate. The data and indicators presented illustrate the growth and stability achieved by Abu Dhabi s economy during the previous years. Data on national accounts, such as the Gross Domestic Product by economic activity at current and at constant prices, growth rates, contribution of economic activities to the GDP and per capita gross domestic product are provided. The chapter also presents data on capital formation by economic activities, compensation of employees at current prices, Abu Dhabi Government finance, in addition to other diverse data of economic interest Economic Aggregates This section presents aggregate and detailed statistics on some macroeconomic variables, by the International Standard Industrial Classification of all economic activities, fourth revision (ISIC 4). It includes data on GDP by economic activity at current and constant prices, in addition to the annual growth rates, the relative distribution of GDP by economic activity, fixed capital formation by economic activity and additional data related to the Emirate s economy. Abu Dhabi s 2014 GDP estimate at current prices was AED 952,676 million, up from AED 931,773 million in This represents an annual growth rate of 2.2% in 2014, compared with 2.4% in 2013, which points to a robust and stable economy. As other data of 2014 indicate, the annual per capita GDP amounted to AED thousand, total fixed capital formation was AED 153,599 million in 2014, while the compensation of employees was AED 209,663 million. GDP at constant prices depicts how much goods and were produced in volume terms and is measured by holding prices constant. GDP at constant prices increased by 4.7% in 2014, following an increase of 4.5% in The main activities contributing to economic growth in 2014 were Financial intermediation and insurance, compulsory social security and Transportation and storage with grew at 27.1%, 12.8% and 12.0%, respectively GDP at Current Prices (Million AED) 952,676 GDP at 2007 Constant Prices (Million AED) 736,148 GDP at Current Prices Growth Rate 2.2 % GDP at 2007 Constant Prices Growth Rate 4.7 % Oil Share in GDP at Current Prices 51.0 % GDP Per Capita at Current Prices (Thousand AED) GDP Per Capita at 2007 Constant Prices (Thousand AED) Gross Fixed Capital Formation (Million AED) 153,599 Foreign Direct Investment (Million AED), ,931 Oil, Gas and Oil Products Exports of the Emirate of Abu Dhabi (Million AED) 309,544 Non-oil Exports of the Emirate of Abu Dhabi (Million AED) 18,964 Re-exports through the Ports of the Emirate of Abu Dhabi (Million AED) 25,316 Imports of the Emirate of Abu Dhabi (Million AED) 107,976 Inflation Rate 3.2% 14 Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi

3 1.1.1 Gross Domestic Product by Economic Activity at Current Prices (Million AED) Total 383, , , ,676 Agriculture, forestry and fishing 4,600 4,556 5,784 5, , , , ,714 Manufacturing 28,584 35,813 48,567 51,997 8,716 16,536 22,344 23,496 Construction 26,321 82,781 85,672 91,286 19,613 28,524 35,617 42,143 Transportation and storage 8,696 21,236 34,881 40,535 Accommodation and food 3,602 7,548 8,910 9,928 Information and communication 15,262 19,038 19,223 19,995 Financial and insurance 17,988 29,332 55,928 68,597 Real estate 10,361 27,555 40,174 44,005 10,252 18,032 18,847 20,007 5,858 7,935 10,007 10,806 10,324 30,662 48,016 55,463 Education 5,225 6,986 11,237 12,012 Human health and social work 1,500 3,670 10,761 12,258 Arts, recreation and other 1,598 3,414 2,416 2, ,572 3,216 3,995 Imputed bank -11,436-22,475-40,921-48, Gross Domestic Product by Economic Activity at Constant Prices (2007) (Million AED) Total 491, , , ,148 Agriculture, forestry and fishing 4,689 4,488 5,383 5, , , , ,811 Manufacturing 35,316 32,075 40,090 41,689 10,494 15,403 18,589 20,514 Construction 35,129 83,263 85,545 88,360 21,602 23,826 26,705 29,018 Transportation and storage 9,974 16,675 22,042 24,688 Accommodation and food sers 3,811 5,824 7,921 8,217 Information and communication 16,995 19,173 18,469 19,408 Financial and insurance 21,439 25,742 44,886 57,069 Real estate 13,828 21,783 31,757 33,284 12,284 15,115 15,137 15,567 7,019 6,651 8,037 8,407 11,047 19,248 28,327 31,963 Education 5,690 6,926 7,748 8,107 Human health and social work 1,576 2,396 6,800 7,754 Arts, recreation and other 1,853 3,037 1,940 2,060 1,093 1,318 2,583 3,109 Imputed bank -13,630-19,724-32,842-40, Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi

4 1.1.3 GDP Per Capita at Current Prices Item * GDP (Million AED) 383, , , ,676 Oil GDP (Million AED) 215, , , ,714 Non-oil GDP (Million AED) 167, , , ,962 GDP per capita (Thousand AED) Oil GDP per capita (Thousand AED) Non-oil GDP per capita (Thousand AED) GDP per capita annual growth Oil GDP per capita annual growth Non-oil GDP per capita annual growth GDP Per Capita at Constant Prices (2007) Item * GDP (Million AED) 491, , , ,148 Oil GDP (Million AED) 291, , , ,811 Non-oil GDP (Million AED) 200, , , ,337 GDP per capita (Thousand AED) Oil GDP per capita (Thousand AED) Non-oil GDP per capita (Thousand AED) GDP per capita annual growth Oil GDP per capita annual growth Non-oil GDP per capita annual growth Annual Growth Rates of the GDP by Economic Activity at Current Prices Total Agriculture, forestry and fishing Manufacturing Construction Transportation and storage Accommodation and food Information and communication Financial and insurance Real estate Education Human health and social work Arts, recreation and other Imputed bank Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi

5 1.1.6 Annual Growth Rates of the GDP by Economic Activity at Constant Prices (2007) Economic Activity * Total Agriculture, forestry and fishing Manufacturing Construction Transportation and storage Accommodation and food Information and communication Financial and insurance Real estate Education Human health and social work Arts, recreation and other Imputed bank Percentage Distribution of the GDP by Economic Activity at Current Prices Total Agriculture, forestry and fishing Manufacturing Construction Transportation and storage Accommodation and food Information and communication Financial and insurance Real estate Education Human health and social work Arts, recreation and other Imputed bank Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi

6 1.1.8 Percentage Distribution of the GDP by Economic Activity at Constant Prices (2007) Total Agriculture, forestry and fishing Manufacturing Construction Transportation and storage Accommodation and food Indicators of Foreign Trade through the Ports of the Emirate of Abu Dhabi as a Percentage of the GDP at Current Prices Item * Total trade * 48.5 Total exports * 37.1 Oil, gas and oil products exports * 32.5 Non-oil exports Re- exports Imports Net trade in goods * 25.8 Information and communication Financial and insurance Real estate Education Human health and social work Arts, recreation and other Imputed bank Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi

7 Gross Fixed Capital Formation by Economic Activity at Current Prices (Million AED) Total 47, , , ,599 Agriculture, forestry and fishing ,246 33,716 27,620 27,925 Manufacturing 8,631 28,740 23,440 24,386 5,900 12,634 6,714 7,550 Construction 1,985 4,541 3,877 4,348 1,107 1,205 2,160 2,382 Transportation and storage 5,192 11,253 12,756 14,525 Accommodation and food 3, Information and communication 828 1,979 2,352 2,751 Financial and insurance 630 5,687 2,192 2,479 Real estate 899 9,446 27,627 31, , ,062 1,190 7,466 26,842 24,568 25,120 Education 544 3,181 3,225 3,526 Human health and social work 900 1,592 2,655 3,011 Arts, recreation and other Percentage Distribution of Gross Fixed Capital Formation by Economic Activity at Current Prices Total Agriculture, forestry and fishing Manufacturing Construction Transportation and storage Accommodation and food Information and communication Financial and insurance Real estate Education Human health and social work Arts, recreation and other Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi

8 Gross Fixed Capital Formation by Economic Activity as a Percentage of the GDP at Current Prices Total Agriculture, forestry and fishing Annual Growth Rates of Gross Fixed Capital Formation by Economic Activity at Current Prices Total Agriculture, forestry and fishing Manufacturing Construction Transportation and storage Accommodation and food Information and communication Financial and insurance Real estate Education Human health and social work Arts, recreation and other Manufacturing Construction Transportation and storage Accommodation and food Information and communication Financial and insurance Real estate Education Human health and social work Arts, recreation and other Statistical Yearbook of Abu Dhabi 2015 Statistical Yearbook of Abu Dhabi