UAE, 6 March, 2025 : The UAE’s real GDP grew by 3.8% in the first nine months of 2024, reaching AED 1.322 trillion compared to the same period in 2023. This growth was driven by a strong expansion in non-oil sectors, which rose by 4.5% to AED 987 billion, reflecting the success of the country's economic diversification efforts.
Non-oil activities contributed 74.6% to the real GDP, highlighting their increasing role in driving economic growth, while oil-related activities accounted for 25.4%. The continued shift toward non-oil sectors underscores the UAE’s resilience and adaptability in the face of global economic challenges.
Minister of Economy Abdullah bin Touq Al Marri emphasized that the sustained economic growth reaffirms the success of the UAE’s economic policies, which focus on diversification, facilitating business activities, and expanding emerging sectors as key drivers of long-term prosperity.
Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, the UAE has built an innovative and globally competitive economic model. This approach enables the country to adapt to international economic shifts while ensuring sustainable development.
Bin Touq reaffirmed the UAE’s commitment to increasing the contribution of non-oil sectors to the economy, strengthening economic openness, and fostering productive partnerships with key regional and global markets. He highlighted the importance of flexible and competitive economic legislation in supporting growth and attracting foreign investment.
These efforts align with the objectives of the "We the UAE 2031" vision, which aims to raise the country's GDP to AED 3 trillion within the next decade and establish the UAE as a global hub for innovation, trade, and the new economy.
Source : www.zawya.com
