
Bloomberg/Christopher Pike
by Kudakwashe MuzoriwaThe 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.
MOST READ
BUSINESS
COVID-19 poses downside risks to Egyptian banksBUSINESS
UAE firms launch Covid-19 economic aid packagesBUSINESS
Saudi Arabia plans to boost oil export to 10...BUSINESS
Aldar to invest AED 2 million in Abu Dhabi...BUSINESS
Saudi Aramco posts a 21 per cent decrease in...BUSINESS
Oil drops 31 per cent as price war erupts...BUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
NMC Health hires Moelis for debt restructuringBUSINESS
Saudi Aramco prepares for international listingBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Egypt plans to resume IPOs of parastatalsBUSINESS
SHUAA Capital reports a net profit of AED 45...BUSINESS
HSBC considering exiting from Turkey