1.77 trillion dirham dirhams of the UAE in 2024

The real GDP of the Emirates recorded a value of 1.77 trillion dirhams in 2024, achieving a strong growth of 4%, compared to 2023. This distinguished performance comes mainly driven by the strong growth of non -oil sectors that achieved 5%growth, bringing the value of its local product to 1.34 trillion dirhams, raising its contribution to 75.5%of The state’s gross domestic product, in an index that reflects the continuous success of economic diversification policies, while the value of the sectors and oil activities reached 434 billion dirhams.

The Minister of Economy, Abdullah bin Touq Al -Marri, said that “these positive results confirm that the UAE, thanks to the vision and directives of the rational leadership, has made new strides in pushing the process of competitiveness and economic diversification,” noting that these indicators reflect the successful success in the light of the economic policies that the state has pursued to transform towards an innovative economic model based on knowledge and sustainability, and keep pace with modern trends and technology.

He added: «We continue to strengthen our national efforts under the leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of 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 achieve the economic targets of the vision (we 2031), aimed at raising the state’s gross domestic product to three trillion dirhams by the next decade, and establishing its position as a global center For the new economy, to ensure the achievement of sustainable development, leadership and competitiveness of the UAE economy in global indicators.

For its part, the director of the Federal Center for Competitiveness and Statistics, Hanan Mansour Al -Ahly, stressed that “the growth of the UAE’s domestic product last year by 4%reflects the distinction of the economic performance of the state, supported by a future vision that focuses on promoting sustainable growth supported by non -oil sectors.”

She said: «The directions and future visions of their leadership focus on consolidating an advanced economic and pioneering economic model, by adopting economic diversification as an approach and axis of work, an engine for sustainability of development, achieving prosperity for society, and a driving force to achieve more achievements, and ensuring the sustainability of growth in gross domestic product, and in various other economic and development indicators.

In terms of the most developed economic activities during the past year, compared to 2023, the existing transportation and storage activities topped with a remarkable growth of 9.6%, driven by the distinguished performance of the movement of passengers and trips at state airports that recorded 147.8 million passengers, with a growth rate of about 10%.

As for the construction and construction sectors, they achieved 8.4%growth, as a result of the significant increase in investments in urban infrastructure projects, while financial activities and insurance activities grew by 7%, restaurants and hotels by 5.7%, and real estate activities by 4.8%.

As for the contribution to the non -oil gross domestic product, the trade sector was issued by 16.8%, then the manufacturing sector by 13.5%, then financial activities and insurance activities by 13.2%, while the construction and construction sector achieved a contribution by 11.7%, and real estate activities 7.8%.