Abu Dhabi GDP growth in 2024

The Statistics Center – Abu Dhabi issued statistical estimates of the GDP of the Emirate of Abu Dhabi for the year 2024 showing a distinguished economic performance of the emirate driven by the growth of all non -oil economic activities.

Initial estimates clarify the continuation of strong economic growth in the emirate, with both total and non -oil gross domestic product to high levels of value for the third year in a row.

Estimates indicate the growth of the true GDP of the emirate by 3.8% in 2024 compared to 2023, with a total value of a new record amounting to 1.2 trillion dirhams.

At the same time, the non -oil economy recorded a strong growth of 6.2% in 2024 compared to 2023, achieving the highest annual contribution of 54.7% in GDP, which reflects the success of the economic diversification strategies adopted by the emirate and enhancing sustainable growth.

Non -oil sectors

The non -oil sectors formed the main engine of this positive performance, with the added value of the non -oil gross domestic product to 644.3 billion dirhams, setting a record for the third year in a row in terms of value. The main sectors, which are manufacturing, construction, construction, financing and insurance, information and communications activities, wholesale and retail trade, education, and health, have the highest values ​​ever, which reflects the emirate’s commitment to investing in human capital, industrial development and infrastructure.

Ahmed Jassim Al -Zaabi, head of the Department of Economic Development – Abu Dhabi said: “The strong and distinguished performance of (Falcon Economics) during the past years confirms the success of Abu Dhabi’s ambitious economic strategies, its advanced policies, and the pre -emptive approach in dealing with the rapid developments in the global economy. The rise in local product to the highest level at 1.2 trillion dirhams, and the non -oil economy by 6.2%, reinforces its contribution to 54.7% of the emirate’s economy, the position of Abu Dhabi as an emerging economic power and an attractive center for global talents, valuable investments and pioneering businesses ».

He added, “In implementation of the vision and directives of our wise leadership, we double our efforts to enable the Abu Dhabi economy to continue growth and prosperity through innovative initiatives that contribute to advancing industrial transformation, stimulating sustainable growth and formulating the future economy. Strategies (Economic Diversification 2.0) accelerate the transformation towards an intelligent, diverse and sustainable economy, and we renew our commitment to providing more opportunities, enabling human capital, and strengthening partnerships to draw the features of the economy in the coming years.

New standard

Abdullah Gharib Al -Qamzi, Director General of the Statistics Center – Abu Dhabi said: “The annual statistical estimates of GDP asserted the steady progress of economic transformation, as the contribution of non -oil activities in the macroeconomic economy has reached a new record at 54.7%, which reflects the emirate’s commitment to developing an investment -friendly economic environment that enables entrepreneurs and strengthens opportunities in opportunities in opportunities The sectors that achieve significant growth rates. ”

He added, “The strong performance of the emirate’s economy during 2024 confirms the success of the economic policies pursued by the emirate to facilitate the growth of business and global trade, which resulted in an increase of approximately 300% in foreign investment during the past ten years.”

According to the initial indicators, manufacturing activities remain one of the highest sectors contributing to GDP with a share of 9.5%, bringing the added value of this sector to its highest level at 111.6 billion dirhams, achieving an annual growth of 2.7% in 2024 compared to 2023, which confirms the success of the Abu Dhabi industrial strategy in supporting the sector’s growth in order to consolidate The emirate’s position as the most competitive industrial center in the region.

The construction and construction sector continues to achieve its positive performance, as it contributed 9.1% to GDP, with a growth rate of 11.3% in 2024 compared to 2023, and a record value of 107.4 billion dirhams.

Financial and insurance activities witnessed a remarkable expansion with a growth rate of 10.7% on an annual basis, to reach its added value to 77.8 billion dirhams, with a contribution of 6.6% in GDP in 2024, which enhances Abu Dhabi’s position as a global financial center.

The information and communication sector achieved a growth of 6.6% on an annual basis, achieving a record value of 32.2 billion dirhams, and a share of 2.2% in the GDP of Abu Dhabi in 2024.

Wholesale and retail trade activities also recorded its highest value at 62.7 billion dirhams, to contribute 5.3% of the emirate’s gross domestic product, with a growth rate of 2.2% in 2024 compared to 2023.

Transport and storage activities achieved the highest growth rate among all other economic activities in 2024 by 16.9% compared to 2023, driven by investments in infrastructure, logistical developments and increased commercial activity.

The contribution of this sector to the economy of Abu Dhabi was 2.4%, with a total value of 27.8 billion dirhams.

The growth of real estate activities

Real estate activities grew by 4.2% in 2024 compared to 2023, which reflects the stability of demand and continuous investment in the development of real estate in the emirate, with the contribution of this sector to the gross domestic product to 3.5% in 2024, with a total added value exceeding 41.7 billion dirhams.

The main service sectors also witnessed positive growth rates, as the education and health sectors reached the highest values ​​of them ever, and the value of the education sector reached 20.4 billion dirhams, with a growth rate of 2.5% in 2024 compared to 2023.

The value of the health sector reached 17 billion dirhams, with a growth rate of 4.1% in 2024 compared to 2023, confirming Abu Dhabi’s commitment to investment in developing human capital and the welfare of society.

In the last quarter of 2024, Abu Dhabi’s gross domestic product achieved a growth of 4.4% compared to the same period in 2023, and the non -oil gross domestic product grew by 6.6%, maintaining a contribution of 54.7% in the gross domestic product of the emirate.