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Dubai's Long-Awaited Stats Show Economic Growth Slowed Below 2%

City Developments As Dubai Plans Growth Away From Petrodollars
Photographer: Christopher Pike/Bloomberg
Updated on

Investors got their first chance in months to size up how Dubai’s economy has fared during a downturn in its bellwether property sector as much-delayed data indicated growth last year was the slowest since 2010.

Figures released by the emirate’s statistics center website late on Tuesday showed gross domestic product expanded 1.9 percent in 2018, down from 3.1 percent the previous year. Finance, mining and manufacturing were among the worst-performing industries. No quarterly GDP figures are available for last year.