The UAE economy achieves 8 gains supported by diversification policy

The UAE economy has achieved 8 gains as a result of the policy of diversification of the economy national by the end of 2017, according to the tracking of the movement of sectoral indicators The main nerve of this rational approach, which aims to prepare for the post-oil.
The state's success in diversifying the economy is based on several factors that have increased the contribution of the private sector to overall development and the development of valuable economic sectors. High additive
The list of sectors contributing to economic diversification, manufacturing, knowledge industries, aviation and space, transport, storage and financial services, tourism, new and renewable energies and other sectors has been included.
Economists agree that the development of these sectors has played an important role in creating an environment conducive to attracting foreign direct investment and promoting and enabling innovation at all levels. levels, pointing out that this development has catalyzed the creation of industrial zones and the numerical reading of the list of gains made by the UAE due to the diversification of the economic base indicates the evolution of gross domestic product at current prices of 58 , 3 billion dirhams in 1975 to 1,405 billion dirhams in 2017, The contribution of the non-oil sectors to the current production rose to 1,092 billion AED against 25 billion AED during the same period of monitoring
In terms of gross domestic product at constant prices, it rose from AED 77.5 billion in 1975 to AED 1.422 billion in 2017 The non-oil sectors in the country The prices of ac Fixed assets rose from 32.2 billion dirhams to 1.003 billion dirhams during the same period.
The indicators of success of economic diversification show an increase of the contribution of the non-oil sectors to the current production of 77.7% in 2017 against 42.9% in 1975, Compared to the decrease of the contribution of the sectors in the current production of 57.1% in 1975 to 22.3% in 2017.
The contribution of the non-oil sectors in the gross product at fixed prices increased to 70.5% in 2017, In 1975, the The share of petroleum sectors in total production decreased from 58.5% in 1975 to 29.5% in 2017.
Of the seven sectors that were the engine of economic diversification, wholesale and retail trade and repair of motor vehicles, motorcycles, financial activities, insurance, construction, manufacturing, public administration and defense, social security Real estate, transportation and storage activities accounted for the largest share of value and money. the value of its contribution increased from AED 571 billion to AED 766.3 billion at the end of last year. True variety, take care of yourself
Economic diversification has also played a role in the development of GDP per capita at constant prices, from 13,800 dirhams in 1975 to 155,600 dirhams in 2017 and from 10,400 dirhams to 15,300 dirhams at the price of non-oil production and service bases. Per capita gross domestic product (GDP) increased from about 10,400 dirhams in 1975 to 15,300 dirhams
The average non-oil per capita GDP increased at current prices, about 3 times from 44,800 dirhams in 1975 to 119,500 dirhams in 2017, AED 57,800 to AED 10,900.
Inflation levels held within acceptable limits during the period, registering 3.6% 2017, down from 2015 levels and 2016.
The diversification policy should lead to more success and progress in the medium and long term, and GDP growth of 5% by 2021, 80% non-oil production while reducing the contribution of the oil sector to 20% of GDP. (WAM)