Bloomberg/Christopher Pike

ECONOMY

Dubai economy grew 2.1 per cent in H1 2019, says DSC

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Notable data from the report included a 6.2 per cent increase in the crucial transport and storage sector as well as 2.7 per cent growth in the hospitality and restaurant industry, which accounts for 5.1 per cent of GDP.
MONDAY 25, NOVEMBER 2019 BY KUDAKWASHE MUZORIWA

The Dubai Statistics Centre (DSC) said that the emirate’s economy grew 2.1 per cent year-on-year in H1 2019 with the GDP reaching AED 208.2 billion at constant prices compared to the same period last year, according to local newswire, WAM.

Arif al-Muhairi, the Director of Dubai Statistics Centre, said that trade hit a real growth rate of 3.3 per cent in light of the increase in foreign trade exchange and the increase of re-exports by three per cent to reach AED 210 billion.

Real estate activity also grew by 2.1 per cent in H1 2019 compared to the same period in 2018 and contributed nearly 7.4 per cent to the total GDP.

Additionally, the Department of Tourism and Commerce Marketing said that the total visitors to Dubai in H1 2019 reached 8.4 million, a 3.2 per cent growth compared to the same period in 2018.

 

TAGS: Dubai Statistics Centre Department of Tourism and Commerce Marketing
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