Page 308 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

UAE's GDP hits Dhs430 billion in Q1 2024

• 09 Sep 2024

Picture used for illustrative purposes.

Abdulla Bin Touq Al Marri, Minister of Economy, said that the preliminary estimates of the UAE’s
GDP growth in the Q1 2024, issued by the Federal Competitiveness and Statistics Centre
(FCSC), underline the resilience and vitality of the national economy and exemplify its ability to
continue on the path of sustainable growth.

He highlighted that the country’s real GDP reached Dhs430 billion in Q1 2024, recording a
remarkable growth of 3.4 percent compared to the same period in 2023, while the non-oil GDP
grew by 4 percent compared to the same period last year.

“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, along with effective national economic strategies, enhancing openness to the
world, promoting partnerships, and transitioning towards an economic model based on flexibility
and innovation,” Bin Touq added.

He emphasised that the national economy’s positive results reinforce achieving the economic
objectives of the “We the UAE 2031” vision, which includes raising the country’s GDP to Dhs3
trillion by the next decade.

https://gulftoday.ae/business/2024/09/09/uaes-gdp-hits-dhs430-billion-in-q1-2024