Abu Dhabi's nominal gross domestic product jumped 15.9 percent in 2010, data showed Tuesday, as the capital of the United Arab Emirates, which accounts for most of the country's oil wealth, rebounded from the global financial crisis supported by higher oil prices and growth in the non-oil sectors. Nominal GDP of AED620.2 billion ($168.9 billion) for 2010, was up from AED 546.5 billion in 2009 and AED666.7 billion in 2008, according to data from the Statistics Center Abu Dhabi. It did not give real growth in GDP for Abu Dhabi. The United Arab Emirates' real GDP grew 1.4 percent in 2010 after shrinking 1.6 percent in 2009 due to the global financial downturn. A Reuters poll in June forecast the UAE economy will grow 3.7 percent in real terms in 2011. The economy of Dubai expanded by 2.4 percent in 2010, reversing a 2.4 percent contraction the previous year. Oil accounted for 49.7 percent of Abu Dhabi's GDP in 2010, while non-oil activities and sectors contributed 50.3 percent, achieving a relatively high growth rate of 5.6 percent during 2010, the statistics centre said. In 2010, average production of crude oil was 2.3 million barrels per day, while natural gas production averaged 4.8 billion cubic feet per day, it said. Oil reserves stood at 92.2 billion barrels in 2009, while the emirate's total natural gas reserves were estimated at 212 trillion cubic. Consumer prices in Abu Dhabi rose by an average of 3.1 percent in 2010, it said.
