The UAE's national savings rose to AED 516.1 billion last year, a growth of 6.6%, compared to AED 484.5 billion in 2017.

The level of national savings reached the highest since 2015, according to figures released by the Federal Competitiveness and Statistics Authority.

Thus, the country topped the rankings in global indicators, which monitor this important economic variable internationally.

According to economic concepts, national saving means the sum of domestic savings plus the net revenues of the state's income from foreign investments. Local saving is the difference between income at the macro level or the so-called GDP (value of goods and services produced during a year), and final consumption. Macroeconomics.

The growth of national savings in countries usually contributes to an increase in the standard of living and wealth and is a means of financing investment projects.

The preliminary reading of official statistics shows that the UAE has succeeded in building a large balance of national savings, supported by distinguished economic policies based on the diversification of income sources during the last phase.

Total national savings amounted to AED 491.8 billion in 2015, while it reached AED 482.1 billion in 2016, before rising to AED 484.5 billion by the end of 2017, the year that marked a strong start to the savings index afterwards, jumping upwards. Three-year levels by the end of 2018.

The UAE's success in increasing its national savings balance was reflected in other economic indicators. The increase in per capita income rose to 55.57 thousand dirhams, as well as the standard of living per capita amid the decline of the oil sector contribution to gross national income and an increase in GDP Public.

- National saving is

The sum of the savings

Local with the net

State revenue from

Foreign investments.

- 491.8

Total AED

National Savings

2015.