Dubai government has taken a number of aggressive steps and implemented policies to improve the economy of the emirate over the years. Here are some top indicators from Dubai Statistics Center on how the city is faring on its demographic and trade growth.
Inflation Rate goes down to 1.5%
Dubai’s inflation is decreased to 1.5% due to decrease in prices in the following divisions: Transportation, Housing, Water, Electricity, Gas, Other Fuels, Food and Beverages, Recreation and Culture, Clothing, Footwear, Furnishings, Household Equipment and Routine Household Maintenance, Communication and Tobacco.
GDP growth rate of 1.94% to be accelerated further
Dubai government took decisive actions to accelerate the rate of economic growth in the emirate that reached 1.7 per cent in the first-half of 2018. Major policy initiatives were introduced and contributed to reducing the cost of doing business, boosting SME liquidity, and supporting the tourism and the real estate sectors. Inflows of foreign direct investment (FDI) into Dubai also accelerated and reached Dh38.5 billion in 2018, an increase of 41 per cent over its 2017 level.
These and other initiatives contributed to accelerating growth during the second-half of 2018 to 2.2 per cent, resulting in overall real GDP growth rate in 2018 of 1.9 per cent.
Population Clock ticks to 3,295,269
The population size of Dubai is composed of 69.96% males and 30.04% females of the total population. The higher proportion of males in Dubai community (233 Males per 100 Females) is attributed to the fact that the majority of expatriate workers are males who are not accompanying their family members.
Four Dubai communities together have a population size of 582,564 individuals and represent 18.25% of the total population size of the Emirate of Dubai. These communities have the presence of several labor accommodation camps in the area.
Dubai’s Non-Oil Foreign Trade reaches 339 Billion AED in Quarter one 2019
Majority of the foreign trade involved import, export and custom warehouse trading of pearls, precious stones and metals, Mineral products, Products of chemical and allied industries Machinery, sound recorders, TV and electrical equipment followed by Vehicles, aircraft and vessels.
Low Unemployment Rate due to Visa Policies
Dubai’s unemployment rate was just 0.5 per cent last year, apparently the world’s lowest, according to the Labour Force Survey 2018 published by Dubai Statistics Centre (DSC).
Such low rates are attributed to policies that grant residency visas to employees, investors, students and persons of equivalent status with the condition that persons of working-age will not be allowed to stay in the UAE without a job.