UAE GDP grew 2.9% in 2019

iStock

The UAE's economy grew by an estimated 2.9 per cent in 2019.

That's according to the latest data from the Central Bank, which says the overall rise in Gross Domestic Product (GDP) was driven by the 7.6 per cent growth in the oil sector.

Meanwhile, the non-oil industry expanded by 1.1 per cent.

The report also shows that private sector employment during the fourth quarter of 2019 registered a 2 per cent increase year-on-year.

As many as 38,765 new jobs were created during Q4, which was the highest growth in the last seven quarters.

More from Business

Coming Up on Dubai Eye

  • Afternoons with Helen Farmer

    2:00pm - 5:00pm

    Every weekday afternoon, Helen Farmer will help you to navigate the highs and lows of life in the UAE. Stay up to date with what’s happening and where to go.

  • Off Script with Chris, Robbie & Sonal

    5:00pm - 7:00pm

    The UAE’s alternative take on news, entertainment and sport. Join Chris, Robbie and Sonal as they cut through the clutter to bring you the news, entertainment and sport stories that actually matter.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!