Page 286 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 5:06 PM UAE Reports 3.4% GDP Growth for Q1 2024

UAE Reports 3.4% GDP Growth for Q1 2024

SEPTEMBER 10, 2024

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In a positive start to 2024, the UAE (United Arab Emirates) saw a 3.4% rise in its real GDP,
reaching AED430 billion, according to the preliminary estimates released by the Federal
Competitiveness and Statistics Centre (FCSC). This reflects a steady expansion compared to the
same period last year.
Non-oil sectors played a significant role, with the economy’s non-oil GDP experiencing a 4%
year-on-year growth. The nation’s success in diversifying its economic base is highlighted by
robust performances in various sectors such as finance, tourism, and transportation.
“Under the guidance 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 country adopted an innovative economic model that supports
its future vision,” said Abdulla bin Touq Al Marri, Minister of Economy. He added that the
country is transitioning towards a flexible and innovative economic structure through effective
national strategies and global partnerships.

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