Non -oil sectors now represent 75.5 percent of the national economy
The true Gross Domestic Product of the EAU (GDP) reached the AED 1,776 billion in 2024, marking a 4 percent increase compared to that of 2023. Non -oil GDP grew by 5 percent, totaling 1,342 billion AED, while activities related to the bill.
Abdulla Bin Touq to Marri, Minister of Economy, emphasized that the latest GDP figures published by the Federal Center for Competitiveness and Statistics (FCSC) reflect a renewed and positive impulse in the national economy. In addition, the new milestones achieved by the EAU in economic diversification and competitiveness, guided by the vision and directives of his wise leadership. With non -oil sectors that represent 75.5 percent of the US GDP based on Knowede and Knowede and emerging technologies.
He said: “Under the leadership of HH Sheikh Mohamed Bin Zayed Al Nahyan, president of the EAA, and orientation of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice -President, Prime Minister of the EAU, and the ruler Orthetthen Ocuguement, and the Ruler Ourt Toyghen OTHEFTTTHEFTTHEN OURHTEN OUR, we, the rulers.
Hanan Mansour Ahli, managing director of the Federal Center for Competitiveness and Statistics stressed that the growth of the GDP of 4 percent in 2024 reflects the exceptional economic performance of the EAU, backed by an advance – Guardado -DR.
Hanan Ahli also declared that the guide and prospective vision of the wise leadership of the EAU focus on building an advanced and globally competitive economic model. Economic diversification is adopted not only as a strategic objective but also as a central operational approach, promoting sustainable development and improving social welfare. This model serves as a powerful catalyst for continuous progress, ensuring the sustained growth of GDP and positive performance in a wide range of economic and development indicators.
Better performance economic sectors
The transport and storage sector emerged as the fastest growing taxpayer to GDP in 2024, registering a growth year after year of 9.6 percent. This growth was mainly driven by the exceptional performance of the EAU airports, which managed 147.8 million passengers, an increase of approximately 10 percent.
The construction and construction sector continued with a growth rate of 8.4 percent, backed by substantial investments in urban infrastructure. Financial and insurance activities expanded by 7 percent, while the hospitality sector, enclosing hotels and restaurants, increased 5.7 percent. Meanwhile, the real estate sector recorded a growth of 4.8 percent.
With respect to non -oil economic activities that contributed the most to GDP, the commercial sector contributed 16.8 percent, the manufacturing sector represented 13.5 percent, and financial and insurance activities contributed to 13.2 percent. Construction and construction contributed 11.7 percent, while real estate activities represented 7.8 percent of non -oil GDP.
