Abu Dhabi's manufacturing sector grew by nearly 6% last year, becoming the third largest contributor to the non-oil economy
Abu Dhabi's manufacturing sector grew by nearly 6 percent last year, becoming the third largest contributor to the non-oil economy, it has been revealed.
A total of 42 industrial facilities entered production during 2018 with a total investment of AED12.3 billion in line with an increase in commodity exports and licences issued.
The manufacturing sector in Abu Dhabi had an added value of AED49.3 billion ($13.4 billion) to the non-oil GDP in 2018 compared to AED46.5 billion in 2017, according to the preliminary estimates of Statistics Centre - Abu Dhabi.
Saif Mohamed Al Hajeri, chairman of the Department of Economic Development Abu Dhabi (ADDED) noted that manufacturing is among the leading sectors that are driving sustainable economic development in Abu Dhabi.
The report showed that the number of new licences reached 118 in the past year with an investment of AED2.3 billion compared to 86 licences in 2017.
According to the report, the exports of the manufacturing industries witnessed high growth rates in 2018, rising from AED22.8 billion in 2017 to AED 4.8 billion in 2018, an increase of 8.8 percent.
A report by the Industrial Development Bureau showed that the industrial licences registered in Abu Dhabi were distributed primarily to the structural and glass industries (23.3 percent) followed by metal industries (19.3 percent), chemical industries (9.7 percent), rubber, plastic, and fiberglass industries (9.5 percent).
Ahmed Hilal Al Baloushi, acting executive director of the Industrial Development Bureau, said the organisation is implementing a number of initiatives that contribute in developing the industrial sector in Abu Dhabi through improving the business environment, reducing the operational costs and increasing demand for local product.
0 comments