Page 302 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

UAE’s GDP grows 3.4% to Dh430 billion in first

quarter of 2024

Financial, insurance sector activities topped non-oil economic activities with 7.9% growth

Published: September 09, 2024 12:37Gulf News Report

Trade
activities contributed the most to the non-oil GDP, accounting for 16.1% growth.Image Credit:
X/Dubai Media Office

Dubai: The UAE’s real gross domestic product (GDP) reached Dh430 billion during the first
quarter of 2024, signalling a 3.4 per cent growth compared to Q1 2023, the Minister of Economy
Abdulla bin Touq Al Marri announced. He stated that the UAE non-oil GDP grew by 4 per cent
during the first quarter (compared to Q1 2023), with financial and insurance activities achieving
a 7.9 per cent growth rate.
The Ministry said that robust tourism inflows to the UAE also led to a 4.6 per cent growth in
restaurant and hotel activities. The Federal Competitiveness and Statistics Centre (FCSC)
issued the growth rates on Monday.
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