Abu Dhabi's GDP grew 30 percent in 2008
Abu Dhabi, Nov 4 : Despite the global financial crisis and a sharp rise in commodity prices, Abu Dhabi's gross domestic product (GDP) rose from 17.2 percent in 2007 to 30 percent in 2008, WAM news agency reported Wednesday.
The Abu Dhabi Economic Report 2009, which made the observations, was released by the Department of Economic Development (DED) here Wednesday.
DED chairman Nasser Al Suweidi said in the report the department has taken a number of steps to achieve a balanced sustainable development. These steps aimed at improving business environment, boosting transparency and creating competitive environment, among others.
"Abu Dhabi economy has emerged as a key player in the region, as it offers diverse investment opportunities in areas like industry, infrastructure, real estate and renewable energy sources. This role will have positive impact on efforts to sustain growth and diversification," said Mohammed Omar Abdullah, undersecretary of DED.
He said oil is still the No 1 sector contributing 63.6 percent to the GDP, while manufacturing industries, construction and finance contributed 9.6, 5.2 and five percent respectively.
--IANS
French pride at stake if World Cup qualifier not replayed with Ireland: Wenger
Numeric Power Systems ventures into green energy segment
Leaving Iraq would bring 53 billion dollars reconstruction back to square one, fears America
Green Park staidum awaits one more record of Sachin
Wave of change blowing in favour of Congress: Jogi
France's Henry tops rogue's gallery: Australian paper
Suspend mining in Kar-AP border, says SC-appointed Committee
Six Maoists arrested with arms in north Bihar
Chavan assures action against attackers at IBN-Lokmat office
Referee's blunder can cost Man U Premier League title: Ferguson
Lampard sees controversial Belgrade 'placenta' doc to be fit for Arsenal clash
Rooney hopes to break his scoring record to bridge post- Ronaldo Man U goal gap
Wenger rejects placenta treatment will help van Persie's miracle return
Rooney has all qualities to become Manchester United, England captain: Ferguson
Giant cannibal galaxy observed having its 'last meal' by astronomers
Rhino horn costlier than gold!
I haven't yet signed on to play Indira Gandhi: Madhuri Dikshit
Fergie stands by hubby despite stripper allegations
Manmohan Singh to get Buss-up-shut at Commonwealth summit
Budget Brit brides opting for black dresses on wedding days!
Childhood abuse 'accelerates body's ageing process'
Demi Moore insists 'her hips don't lie' in W cover
PCB says no Pakistan player has received invites from IPL
Kim Kardashian dismisses lip, nose job reports
Residents dump 'rotten' rice in front of CM's residence
Subramanya receives 7 cm rain
Governor Jamir condemns attack on IBN-Lokmat
John Mayer once bought a Ferrari because he was sad!
Naidu threatens 'direct action' against OMC
More rains in next 48 hours
Miley Cyrus talks about her Australian 'boyfriend'
Youths killed as bike slams into truck
22 teams for North-East Zone Inter-University Hockey (women)
Five labourers killed as road caves in at Ahmedabad
ABVP activists lathicharged
26/11 Shradhanjali by Tarak Mehta Team
Missing policeman resurfaces as 'sanyasi', suspended
Karthik Calling Karthik to release on 26th February 2010
Modi visits accident site, orders probe
Pavilions from northeast region doing brisk business at IITF