It jumped from 58.3 billion dirhams in 1975 to 1.3 trillion dirhams in 2020

The country's gross domestic product has doubled 2000 times in 45 years

The growth of the non-oil sectors’ contribution to the GDP from 43% in 1975 to 83% in 2020. Archives

The Federal Competitiveness and Statistics Center revealed in the report "The UAE Figures Documenting the March for the Year 2020", the most prominent facts and figures that reflect the growth recorded in the country's economy during 50 years, on the occasion of the celebrations of the fiftieth anniversary of the Union.

The report showed the huge jump achieved by the country’s GDP from 58.3 billion dirhams in 1975 to more than 1.3 trillion dirhams in 2020, with a very large increase of more than 2129 percent, while the contribution of the non-oil sectors to the GDP grew from 43% in 1975. to 83% last year.

Trade and Investments

The report pointed out that the total volume of the state's foreign trade increased from 11 billion and 500 million dirhams in 1975 to 1.4 trillion dirhams in 2020, while the value of foreign direct investments received by the state increased by 82%, reaching about 73 billion dirhams during the past year. Compared to 40 billion dirhams recorded in 2005.

The value of issued foreign direct investments jumped from 14 billion dirhams in 2005 to 69.5 billion dirhams in 2020.

The report also revealed that the volume of government spending in the country increased from one billion and 258 million dirhams in 1975, to 442 billion and 386 million dirhams in 2019.

Banks

In a related context, the banking sector witnessed a major boom after the number of commercial banks in the country increased from 20 banks in 1972 to 59 banks last year, while the value of total deposits in banks jumped from 19.5 billion dirhams in 1978 to reach about 1.9 trillion dirhams. In 2020, the number of insurance companies in the country increased from 62 companies in 1975 to 406 companies in 2020.

tourism

In addition, the number of hotel establishments in the country jumped from 64 hotel establishments, comprising 5,379 rooms in 1978 to 1,089 hotel establishments comprising 180,257 hotel rooms in 2020.

The operational capacity of the country’s hotel facilities has evolved over the years, as the number of its guests in 1979 reached about 392,000, with a total of 1.02 million nights’ stay. Last year, their number reached more than 14,882 thousand, with a total of 54.3 million nights.

The total revenues of hotels in 2020 exceeded 16.6 billion dirhams, a significant increase compared to 2005, when revenues amounted to 1.5 billion dirhams.

electricity

The capacity of the installed electrical stations in the UAE has also developed from 482 megawatts in 1975, to reach about 35,000 megawatts in 2020, while the generated electric power has achieved a great development, exceeding 137,000 gigawatts per hour during the year 2020, compared to 1,467 gigawatts per hour in 1975.

In the same context, the amount of electrical energy generated from renewable energy plants has grown significantly in 2020 compared to 2009, rising from six gigawatt-hours in 2009 to 5476 gigawatt-hours in 2020.

In 2009 the total installed capacity of renewable energy plants was 10 MW, but in 2020 it jumped to 2,289 MW.

• The country's foreign trade jumps from 11.5 billion dirhams in 1975 to 1.4 trillion dirhams last year.

water

The quantity of desalinated water produced in the country increased during the past year to reach two billion cubic meters, a significant increase over 1983, when its quantity was 256 million cubic meters, while the number of wastewater treatment plants in the country in 2020 reached 125 plants, an increase of 145%. In 2011, there were only 51 stations, and the amount of treated wastewater increased during the past year to reach 769 million cubic meters, by 55%, compared to its quantity in 2011, which was 498 million cubic meters.

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