Abu Dhabi’s Non-Oil GDP Surges 59% Over the Past Decade

UAE, 8 July, 2024 :  The Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (ADIO) organized the third edition of Al Multaqa quarterly meetings, highlighting recent economic achievements in H1 2024.

Ahmed Jasim Al Zaabi, Chairman of ADDED, announced that Abu Dhabi’s non-oil sectors grew by 59% over the past decade, now contributing 54% to the GDP, up from 46% in 2011. This growth is part of the "Falcon Economy" initiatives aimed at creating a smart, diversified, and sustainable economy.

Key sector growth includes construction at 22.6%, finance and insurance at 39%, and manufacturing at 102% over the past ten years. The Abu Dhabi Industrial Strategy (ADIS) spurred a 21.7% increase in the industrial sector, from AED 83 billion to AED 101 billion in 2023.

Abu Dhabi's manufacturing sector now represents 51.3% of the UAE's industrial GDP, rising to AED 197 billion in 2023, compared to 46% in 2022.

Source : www.zawya.com