UAE: Non-oil economy shrinks

Issue 1125 - 06 May 2021

The UAE’s non-oil economy contracted by 6.2% in 2019, its first fall since 2011, as the coronavirus pandemic and lower oil prices hit activity, according to Ministry of Economy data. Overall GDP fell by 6.1%. Among the worst-affected sectors, hotels and restaurants contracted by 24% due to the lockdowns and a lack of tourists.

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