2013 Awards and Strategic Priorities
Dubai Economic Update
Highlights
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Dubai's economy grew 3.2% in 2012, driven mainly by manufacturing,
which accounts for about 13% of Dubai's GDP. Non-oil foreign trade
also held up better than we had expected in Q4 2012, and services
sectors showed strong growth.
We expect GDP growth to accelerate to 3.9% in 2013, as the real
estate sector continues to recover and construction is no longer a drag
on growth.
Manufacturing, tourism and hospitality are likely to benefit from strong
regional demand.
Non-oil trade with other GCC countries, particularly Saudi Arabia and
Qatar, are likely to continue to offset any weakness in trade with
Europe and the US.
Dubai: Real GDP growth
Y-o-y growth %
Emirates NBD
5.0%
3.9%
4.0%
3.4%
3.2%
2.8%
3.0%
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
2008
-2.4%
2009
2010
2011
2012e
2013f
Source: Emirates NBD Research, Dubai Statistics Centre
Dubai GDP - Composition by Sector, and Sector Growth
Dubai GDP by Sector-2011
(AED 100 bn)
Fin
Hotels
4%
Servcs.
10%
Trans.
&
comm.
Trade
29%
50.0
0.0
ཨི
2011
2012e
2013f
13%
Manuf.
13%
RE
Other
20%
11%
-50.0
Agriculture, Livestock and Fishery
Construction
Real Estate and Business services
Non profit organisations
Agriculture, Livestock and Fishery
Source: Dubai Statistics Centre, Haver Analytics
Mining and Quarrying
Wholesale, retail, maintenance
■Social and personal services
Domestic Services (households)
■Mining and Quarrying
Manufacturing
■Restaurants and hotels
Financial Services
imputed bank services
■Manufacturing
■Utilities (Electricity and water)
Transport, Storage, Communication
Government services
GDP
Utilities (Electricity and water)
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