3.8 %؜ growth of the GDP of the Emirates during the first nine months of 2024

The real GDP of the Emirates registered a growth of 3.8%, with a value of 1,322 billion dirhams during the first nine months of 2024, compared to the same period in 2023, while the non -oil gross domestic product achieved a growth of 4.5%, with a value of 987 billion dirhams. The contribution of non -oil activities, in the real GDP, reached 74.6%, while oil activities contributed 25.4%.
Abdullah bin Touq Al -Marri, Minister of Economy, stressed that the continuous growth achieved by the national economy comes as an affirmation of the success of the economic policies and strategies adopted by the UAE and aimed at strengthening economic diversity, facilitating the practice of various businesses and activities, and stimulating the expansion of the new economy sectors as a pivotal driver to achieve sustainable economic and social development, as the state was keen to lead His Highness Sheikh Mohammed bin Zayed Al Nahyan, President The state, may God protect him, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, to build an innovative economic model based on the best practices followed globally, and is able to adapt to global economic changes and challenges.

Abdullah bin Touq said: “The national efforts are continuing to increase the contribution of non -oil sectors to the national economy, developing more flexible and competitive economic legislation, and enhancing economic openness to the world, and building fruitful partnerships with prominent markets regionally and globally, in order to support the achievement of the” UAE 2031 “vision targets, which aim to raise the gross domestic product of the state to reach 3 trillion dirhams By the next decade, the state’s position as a global center for the new economy.

For her part, Hanan Mansour Al Ahly, Director of the Federal Center for Competitiveness and Statistics, said: “The data issued by the Federal Center for Competitiveness and Statistics showed that the growth of the local product of the UAE during the first nine months of last year, reflects the strong economic performance of the state and a clear future vision that focuses on promoting sustainable economic growth supported by non -oil sectors.”

She added, “The wise leadership adopts economic diversification is a firm approach and axis of future trends, and a driving force to achieve more achievements and ensure the sustainability of growth in GDP, and in various other economic and development indicators.”

The most developed economic activities
The most developed economic activities in GDP during the first nine months of last year, compared to the same period in 2023, were transportation and storage activities that witnessed 7.9%growth, driven by the outstanding performance of the movement of passengers and trips at state airports, which recorded more than 103 million passengers with a growth rate of about 20%.

As for the construction and construction sector, it achieved a growth of 7.4%, as a result of the significant increase in investments in urban infrastructure projects, while financial activities and insurance activities grew by 6.8%, government activities by 5.0%, restaurants and hotels by 4.9%.

In the field of economic activities most contributing to the non -oil gross domestic product, the trade sector ranked first with a contribution rate of 16.5%, and the manufacturing sector came second in terms of the contribution rate by 15.1%, followed by financial and insurance activities with a rate of 12.1%, while the construction and construction sector contributed 11.7%, and real estate activities 7.6%.

In a related context, the value of the nominal GDP reached, during the first nine months of 2024, 1,486.3 billion dirhams, recording a growth of 6%, compared to the same period in 2023, while the value of the non -oil GDP, at current prices, reached 1,136.6 billion dirhams, with a growth of 6.6%. Non -oil activities in the nominal GDP contributed to 76.5%, while the contribution of oil activities reached 23.5%.