Abu Dhabi’s private sector rose by 35 per cent over the past eight years, hitting a value of nearly Dh339 billion ($92 billion) in 2023, helping accelerate the growth of the emirate’s non-oil economy, the Abu Dhabi Department of Economic Development said.
The increase is in line with the growth of the UAE capital’s gross domestic product, the department said in a statement on Thursday.
The emirate’s non-oil sector also posted a 9.1 per cent annual growth to reach Dh610 billion and contributed 53.4 per cent to total real GDP in 2023, boosted by the private sector and family-owned businesses, it added.
Abu Dhabi’s private sector and family-owned businesses “continue to contribute to economic diversification as evidenced by their share in the highest growing non-oil sectors”, which is “backed by decades-long experience”, Ahmed Al Zaabi, chairman of Added, said.
“The importance of our collaborative efforts is reflected in Abu Dhabi’s growth indicators. Remarkably, we managed to achieve…
