The economy of the United Arab Emirates grew at an impressive rate during 2002, despite the lasting impact of the September 11 terrorist attacks and the current global economic uncertainty which has nearly crippled many other countries.
Citing a bulletin from the Emirates Industrial Bank, the Gulf News Online news service revealed that GDP increased last year by 4.2% (to Dh246 billion last year from Dh236 billion in 2001), and suggested that: 'Last year's results reflected the local economy's ability to surmount regional and international crises.'
According to the EIB bulletin, non-oil sectors contributed most to the GDP increase, growing by 5.3%. However, the oil sector made its own contribution, increasing by some 1.5% to Dh66.5 billion over the year.
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