The economy of Abu Dhabi is largely based upon the revenue generated from natural resources, with petroleum and natural gas playing a vital role. Abu Dhabi has one of the world’s highest per capita incomes, thanks to its combined revenues from oil royalties and overseas investments. The estimated GDP for the year 2020 was approximately AED 1.47 trillion (USD 401 billion), with a GDP Per Capita of AED 160,000 (USD 43,005). The economy is expected to grow at a rate of 2.2% between 2021-2023.

According to the International Monetary Fund (IMF), the UAE economic outlook remains positive, supported by domestic activity. The IMF expects non-hydrocarbon growth to be around 4% in 2023 and to accelerate over the medium-term with the implementation of ongoing reforms.
Abu Dhabi has announced a long-term plan for the transformation of the emirate’s economy. The plan includes a reduced reliance on the oil sector as a source of economic activity over time and a greater focus on knowledge-based industries in the future.

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