Economy

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

UAE’s non-oil contribution to GDP hit 72.3% in 2021

Dubai is also a tax haven with no direct taxes on corporate earnings and personal income.
By TRENDS Desk
April 19, 2022 2:45 pm
  • The hotels and restaurants, wholesale and retail and health and social services sectors contributed 21.3 percent, 14.1 percent and 13.8 percent respectively
  • The UAE’s GDP at constant prices achieved a growth of 3.8 percent in 2021, exceeding the forecasts of relevant international institutions

The UAE’s non-oil sector contribution to the GDP amounted to 72.3 percent in 2021, up from 71.3 percent in 2020, data by the Federal Competitiveness and Statistics Center, revealed.

The hotels and restaurants, wholesale and retail and health and social services sectors contributed 21.3 percent, 14.1 percent and 13.8 percent respectively, during the reference period.

The UAE’s GDP at constant prices achieved a growth of 3.8 percent in 2021, exceeding the forecasts of relevant international institutions, which expected the growth of the country’s GDP for the same year to reach 2.1 percent.

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