Fully aware of the need to diversify, the leadership of
the Emirate has, in Vision 2030, identified ‘national
champions’; sectors and areas for development which
allow the Emirate to take advantage of its innate
strengths.
Abu Dhabi Economic Vision 2030
of the hydrocarbon reserves, diversification is an
imperative for Abu Dhabi.
When oil revenues are removed from the fiscal
balance, Abu Dhabi’s comfortable budget surplus
becomes a fairly large and possibly unsustainable
deficit. (-27.7% of GDP from 2000 to 2005)
Non-oil sector GDP per capita should be more than
doubled.
Hydrocarbon revenues and derived investments
accounted for 83% of total fiscal revenues between
One such sector for example, is petrochemicals
– an area where Abu Dhabi can add value to its
resources domestically, capture a larger share of the
hydrocarbon value chain and take advantage of an
international market hungry for its products.
2001 and 2005.
Reducing reliance on oil revenu es would bring Abu
Dhabi into line with international benchmarks and
best practices.
By the end of 2030, some 64% of real GDP in Abu
The goal of Vision 2030 is to reduce dependence on
oil receipts to the point where the economy can stand
on its own two feet without them.
Dhabi will come from non-oil sources.
For economic diversification to become a reality,
Abu Dhabi intends to achieve a zero non-oil trade
balance by 2028.
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