77.7% contribution of non-oil sectors to UAE production

The UAE economy achieved 8 gains thanks to the national economy's resource diversification policy by the end of 2017, according to the monitoring of the movement of sectoral indicators, which constitutes the mainstay of this rational approach to post-oil preparation. The indicators of success of economic diversification show an increase in the contribution of the non-oil sectors to current production to 77.7% in 2017 against 42.9% in 1975, contrary to the contribution of the oil sectors in the current production of 57 , 1% in 1975 to 22.3% in 2017

The success achieved by the state in diversifying the economic base is based on many elements, namely the increase in the contribution of the private sector global development in general and the development of high value-added economic sectors in particular. The list of sectors that contributed to the country's economic diversification included manufacturing industries as well as knowledge industries, aerospace industry, transportation, storage, financial services, tourism, new and renewable energies, and Other sectors

The development of these sectors has played an important role in creating an environment conducive to direct foreign investment and to promoting and innovating in all levels, stressing that this development was a catalyst for the establishment of industrial zones and free zones.

The numerical reading of the list of gains made by the UAE following the diversification of the economic base indicates the evolution of gross domestic product at current prices from AED 58.3 billion in 1975 to AED 1.4 billion. in 2017. The contribution of non-oil sectors In current production at AED 1.09 billion against AED 25 billion during the same monitoring period. In constant gross domestic product (GDP) terms, it increased from AED 77.5 billion in 1975 to AED 1.42 billion in 2017. Non-oil sector shares increased at constant prices by AED 32.2 billion. to AED 1.003 billion during the same period. From total oil production in constant prices to 70.5% in 2017 against 41.5% in 1975. On the other hand, the contribution of the oil sectors to gross product at constant prices decreased from 58.5% in 1975 to 29.5%. % in 2017.

Who formed the locomotive of economic diversification, acquired the wholesale trade For the retail sale and repair of motor vehicles and motorcycles, financial activities, insurance, construction, manufacturing, public administration, defense, social security, real estate, transport and storage, the largest share in value and percentage of non-oil production over the period 2010-2017. Dirhams at 766.3 billion dirhams at the end of last year, reflecting the crystallization of the foundations of a diversified real economy based on production and service bases away from oil

Economic Diversification also played a role in the evolution of average per capita production. At constant prices, from AED 13,8900 in 1975 to AED 155,600 in 2017 and AED 10,4500 to AED 15,3700 at current prices.

Non-oil average per capita GDP at current prices doubled from about 3 times from AED 44 800 in 1975 to AED 119 500. 2017 It also doubled at constant prices from AED 57,800 to AED 10,900 respectively. Inflation levels held within acceptable bounds during the period and were down 3.6% in 2017, down from 2015 and 2016.

Expectations

] Diversification policy is expected to grow more Non-oil GDP growth is 5% by 2021 and the contribution of the non-oil sector to GDP is 80%, with the oil sector contributing 20% of GDP.