Middle East Economic Survey


No 2



Dubais Oil Dependency Continues To Fall

Dubais dependency on oil has continued to fall, dropping to 6% of GDP in 2004 from 7% in 2003, according to recent government figures. While sustained high prices pushed up the oil sectors contribution to GDP by 10.9% last year, Dubais oil production is in decline and the non-oil sector grew by a greater 17%. The non-oil sectors contribution to GDP has increased from Dh78.22bn ($1=Dh3.67) or...