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The Confidence in Business Climate Index reveals high optimism among construction, trading and industrial activities in Abu Dhabi

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The Confidence in Business Climate Index reveals high optimism among construction, trading and industrial activities in Abu Dhabi

Monday, June 10, 2013
The Business Climate General Index in the Emirate of Abu Dhabi rose slightly by (0.1) points in the first quarter of 2013 compared to the fourth quarter of 2012, as it registered 55 and 54.9 points respectively, reflecting continued optimistic outlook by economic enterprises about the performance of the economy of the Emirate of Abu Dhabi at the beginning of 2013. This was the result of the concrete efforts made by the Government and the announced pumping of AED 330 billion in capital projects for the period (2013-2017), in various sectors to strengthen partnership with the private sector.According to the results of the Business Climate Index released by the Studies Directorate of Abu Dhabi Department of Economic Development for the first quarter of 2013, the outlook of business establishments towards the prevailing economic conditions had improved, as well as their assessment of the performance of their establishments during the first quarter of this year, as compared to the fourth quarter of 2012. Although the improvement was minimal, but it showed that Abu Dhabi's economy grew over time despite the severe turbulence in the global economy, especially, in light of the continuing euro zone crisis and the suffering of the US economy from declining levels of performance.The index also confirmed the stability of the business environment in Abu Dhabi at the beginning of 2012, stimulated with a package of facilities and government legislation which increased the participation of the private sector, and contributed to increasing the capacity to attract of foreign investments. This was furthered by launching productive projects in multiple sectors such as industry, oil and gas, technology and services.A surveyed sample of economic establishments stated that their performance was influenced during the first quarter of 2013 by inflation, and expectations of continued high prices during the second quarter of the same year. Poll opinion results however, reflected significant improvement in the economic performance of enterprises during the first quarter of 2013, rising inventory levels, and considerable enhancement in prices of product, as a result of improved domestic demand in the Emirate of Abu Dhabi, and increased volume of sales, especially in foreign markets; in comparison with survey results of the fourth quarter of 2012.According to the Abu Dhabi Statistics Center, non-oil commodity exports surged during January 2013, by (4.4%) to AED 37 million, compared to December 2012.This corresponds to the poll results, which reflected high levels of optimism among economic establishments about demand for their products during the survey period.
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