UAE – Mubasher: The real gross domestic product (GDP) of the UAE climbed by 2.9% in 2019, according to recent data by the Central Bank of the UAE as reported by Emirates News Agency (WAM).

The growth in the real GDP is driven by a rise in the non-hydrocarbon and hydrocarbon sectors by 1.1% and 7.6%, respectively, due to an increase in natural gas production and its condensate.

During the fourth quarter of 2019, the UAE’s real GDP jumped by 1.3%, with a 2.4% rise in the non-hydrocarbon sector.

The increasing non-oil activities resulted in a 2% increase in the private sector’s employment to 38,765 new jobs in Q4-19, hitting the highest rate in the past seven quarters.