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UAE economic growth accelerates to 5.2 pct in 2013
June 8, 2014 / 7:50 AM / in 3 years

UAE economic growth accelerates to 5.2 pct in 2013

DUBAI, June 8 (Reuters) - The United Arab Emirates’ economic growth accelerated to 5.2 percent in 2013 from 4.4 percent in the previous year, the OPEC member’s statistics office said on Sunday.

“One of the most important factors contributing to the improvement of the 2013 GDP growth...was the development of oil output and a good and stable level of oil prices in general during last year, when the average oil price reached nearly $108 per barrel,” the National Bureau of Statistics said.

Analysts polled by Reuters in April forecast a deceleration in the UAE’s gross domestic product growth to 4.3 percent in 2014 and 4.0 percent in 2015. (Reporting by Martin Dokoupil and Sami Aboudi; Editing by Andrew Torchia)

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