December 1, 2023

Gross Domestic Savings Grow 6.6 pc to AED516.1 bn in 2018

Source: WAM

Abu Dhabi: The gross domestic savings in the United Arab Emirates grew 6.6 per cent to AED516.1 bn in 2018 from AED484.5 bn in 2017, according to figures revealed by the Federal Competitiveness and Statistics Authority.

The highest since 2015, the growth reflects the significant success achieved by the economic diversification policy adopted by the government over the past years.

According to the figures, the gross domestic savings stood at AED491.8 bn in 2015 before declining to AED482.1bn in 2016, then up to AED484.5 bn in the year 2017, since which the rate has been on the rise.

The remarkable growth in national savings has reflected positively on the rest of the country’s economic indicators, with the gross national income per capita up to AED55,570 at a time the oil sector’s contribution to GNI is getting down, and GDP is edging up.

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