Emirates NBD 2014 Achievements and Strategic Update
Dubai Economic Update
Dubai: Real GDP growth
Highlights
Dubai's economy expanded 4.6% in 2013 broadly in line with
forecast, as manufacturing, hospitality and transport and logistics
expanded robustly. The construction sector also contributed positively
to growth for the first time since 2008, albeit marginally at 1.3% y-o-y
GDP growth expected to accelerate to 5% in 2014 on the back of
continued growth in tourism and hospitality, boosting trade, transport
and associated services as well as a faster recovery in the
construction sector
Infrastructure spending ahead of Expo 2020 will remain the main driver
of growth in the construction sector, although the delivery of recently
launched residential developments will also contribute over the next
few years
% y/y
៩៖ ៖ ៖ ៖
0%
-2%
-4%
Composition of Dubai GDP
Other
Dubai GDP by Sector (%) - 2013
5%
Hosp.
5%
Financial
servcs.
11%
Trade
29%
Transport,
comm.
15%
Manuf.
14%
Constr. & RE
21%
3.5%
Emirates NBD
5.0%
4.6%
4.7%
4.1%
3.5%
3.0%
II
-4.3%
-6%
2008
2009 2010 2011 2012
2013 2014f 2015f
Source: Dubai Statistics Centre, Emirates NBD Research
Dubai's fastest growing sectors
-10
-15
-20
2505
10
0
-5
15252
Manuf
Fin. Serv.
15
2010
% yly
2011
Trans. & Comm.
Hospitality
Trade
Constr. & RE
2012
2013
Source Dubai Statistics Centre, Emirates NBD Research
Source: Dubai Statistics Centre, Emirates NBD Research
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