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Ras Al Khaimah GDP tops $8bn

RAS AL KHAIMAH, August 3, 2016

The gross domestic product (GDP) of the UAE emirate of Ras Al Khaimah is expected to have crossed Dh30 billion ($8.165 billion) during 2015, a senior official said.

The statement by Dr Abdulrahman Mohammed Ali Al Shayeb Al Naqbi, RAK Department od Economic Development (DED) director general, follows the completion of the emirate’s annual economic survey and the first quarter 2016.

The surveys, conducted in cooperation with the Federal Competitiveness and Statistics Authority, ran from April 10 to June 16. They covered 1,200 companies across a variety of sectors  including free zones.

The survey included companies from various business sectors and industries such as tourism, wholesale, retail, banks, construction, as well as other services that play a primary role in the composition of the GDP. Investment, employment and national variable indicators that reflect the emirate’s output and investment levels were also covered, said a statement.

 Dr Al Naqbi said: “The two surveys’ results increased the emirate’s GDP output, which is expected to break through the Dh30 billion barrier in 2015, as they included the free zones, which contributed positively to the survey for the quarter. We are now preparing for the launch of the second quarter 2016 survey, which is expected to start by the end of this week, in order to provide comprehensive information about the economy.”

Dr Talib Hassan Hayali, acting director of studies and statistics department, said: “It is so important that companies provide information during economic surveys, whether they are operating in the free zones or outside, and cooperate with researchers to provide credible and transparent information for them. We assure all companies that this information is confidential and is only used for the purpose of obtaining national GDP, investment, manpower and other numbers.” – TradeArabia News Service
 




Tags: UAE | Ras Al Khaimah | GDP |

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