emirates7 - The UAE’s real GDP reached AED 1.776 trillion in 2024, reflecting a 4% growth compared to 2023.
Non-oil sectors saw a 5% increase, reaching AED 1.342 trillion, while oil-related activities contributed AED 434 billion to the total output.
Minister of Economy Abdulla bin Touq Al Marri noted that the figures released by the Federal Competitiveness and Statistics Centre (FCSC) demonstrate the strengthening momentum of the UAE’s economy. He highlighted that the data affirms the country’s progress in economic diversification and global competitiveness, in line with the leadership’s strategic vision.
By the end of 2024, non-oil sectors made up 75.5% of the UAE’s GDP. Al Marri underscored that these results reflect the effectiveness of the UAE’s long-term economic strategies aimed at building an innovative, knowledge-based, and sustainable economy that aligns with global advancements and emerging technologies.
He added, “Guided by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, we continue to advance our national goals in line with the ‘We the UAE 2031’ vision. Each achievement brings us closer to our aim of increasing GDP to AED 3 trillion within the next decade, while strengthening the UAE’s position as a global leader in the future economy driven by sustainability and innovation.”
Hanan Mansour Ahli, Managing Director of the FCSC, remarked that the 4% GDP growth in 2024 is a testament to the UAE’s strong economic performance, driven by a future-oriented vision focused on sustainable, non-oil-based development.
She emphasized that the leadership’s commitment to economic diversification is not just a goal but an operational foundation, accelerating progress, supporting social well-being, and ensuring robust performance across multiple economic and development sectors.
Among the non-oil sectors, transport and storage recorded the fastest growth in 2024, rising 9.6% year-on-year. This was largely due to record performance at UAE airports, which handled 147.8 million passengers—a nearly 10% increase.
Construction followed with an 8.4% growth rate, bolstered by large-scale infrastructure investments. Financial and insurance activities expanded by 7%, while hospitality (including hotels and restaurants) grew 5.7%. Real estate posted a 4.8% increase.
In terms of contributions to non-oil GDP, trade led with 16.8%, followed by manufacturing at 13.5%, and financial and insurance activities at 13.2%. Construction contributed 11.7%, and real estate made up 7.8% of the non-oil economic output.
Non-oil sectors saw a 5% increase, reaching AED 1.342 trillion, while oil-related activities contributed AED 434 billion to the total output.
Minister of Economy Abdulla bin Touq Al Marri noted that the figures released by the Federal Competitiveness and Statistics Centre (FCSC) demonstrate the strengthening momentum of the UAE’s economy. He highlighted that the data affirms the country’s progress in economic diversification and global competitiveness, in line with the leadership’s strategic vision.
By the end of 2024, non-oil sectors made up 75.5% of the UAE’s GDP. Al Marri underscored that these results reflect the effectiveness of the UAE’s long-term economic strategies aimed at building an innovative, knowledge-based, and sustainable economy that aligns with global advancements and emerging technologies.
He added, “Guided by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, we continue to advance our national goals in line with the ‘We the UAE 2031’ vision. Each achievement brings us closer to our aim of increasing GDP to AED 3 trillion within the next decade, while strengthening the UAE’s position as a global leader in the future economy driven by sustainability and innovation.”
Hanan Mansour Ahli, Managing Director of the FCSC, remarked that the 4% GDP growth in 2024 is a testament to the UAE’s strong economic performance, driven by a future-oriented vision focused on sustainable, non-oil-based development.
She emphasized that the leadership’s commitment to economic diversification is not just a goal but an operational foundation, accelerating progress, supporting social well-being, and ensuring robust performance across multiple economic and development sectors.
Among the non-oil sectors, transport and storage recorded the fastest growth in 2024, rising 9.6% year-on-year. This was largely due to record performance at UAE airports, which handled 147.8 million passengers—a nearly 10% increase.
Construction followed with an 8.4% growth rate, bolstered by large-scale infrastructure investments. Financial and insurance activities expanded by 7%, while hospitality (including hotels and restaurants) grew 5.7%. Real estate posted a 4.8% increase.
In terms of contributions to non-oil GDP, trade led with 16.8%, followed by manufacturing at 13.5%, and financial and insurance activities at 13.2%. Construction contributed 11.7%, and real estate made up 7.8% of the non-oil economic output.