UAE recorded the highest GDP in historyStaff writer ▼ | June 22, 2015
The United Arab Emirates (UAE) recorded a nominal GDP of 1.47 trillion Dirham or $400.55 billion in the past year, the highest ever in history of the country.
Emirates UAE GDP was $400.55 billion
With the nominal GDP reaching for the first time 400.55 billion dollars, "2014 was the strongest year economically for the UAE with a growth in Real Gross Domestic Product of 4.6 percent and the country is set to continue to perform strongly in 2015."
The UAE, a major oil supplier, is poised to continue to achieve strong growth in 2015, said the UAE vice president, adding that a large number of infrastructure projects have been launched.
In addition, UAE'S non-oil sector achieved growth rates in GDP of 8.1 percent in 2014, which contributed 68.6 percent of the constant-price GDP," said Sheik Mohamed Bin Rashid.
He added the UAE will continue implementing a long-term plan facilitating transition to a knowledge economy. ■