Abu Dhabi's GDP Rises 4.1% in Q2 2024, Boosted by Non-Oil Sector Growth

UAE, 02 October, 2024 :  The Statistics Centre – Abu Dhabi (SCAD) reported a 4.1% growth in the emirate's GDP in Q2 2024, reaching AED297 billion. This growth is fueled by a strong performance in non-oil sectors, reflecting Abu Dhabi's successful economic diversification efforts.

Non-oil GDP grew by 6.6% in Q2, totaling AED164.2 billion, with the non-oil sector accounting for 55.2% of the economy, the highest since 2014. Key sectors like construction, manufacturing, and finance contributed significantly, with construction growing by 11.5% and finance expanding by 13.4%.

Ahmed Jasim Al Zaabi, Chairman of ADDED, highlighted the resilience and agility of Abu Dhabi's economy, emphasizing its ability to adapt to global shifts and attract talent and investment. SCAD’s Director-General Abdulla Gharib Alqemzi praised the emirate’s strong economic performance, particularly in sectors like manufacturing and finance, as indicators of sustained growth.

The report also noted substantial growth in transportation, real estate, and information and communication sectors, which collectively contributed to Abu Dhabi's continued economic expansion.

Source : www.wam.ae