UAE non-oil growth soars amid moderate inflation rate (3)

The UAE is composed of seven sheikhdoms, of which Abu Dhabi harbors 7 percent of the globally known oil reserves. The emirate of Dubai, on the other hand, has established itself as the Gulf region's top business and trade hub as it hosts the region's largest container free port.

"We have no breakdown between Dubai and Abu Dhabi in the data," said Williams, "but I suspect the former is outpacing the latter at present."

Recent studies released by Citigroup last week also came to the conclusion that Dubai is the driving force behind the UAE's current economic strength, due to solid growth in trade, real estate and tourism, representing the three largest pillars of UAE non-oil growth.

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