Page 314 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 11:55 AM UAE’s GDP totals AED 430bln in Q1 2024 with 3.4 per cent growth

H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy. Image Courtesy: UAE Ministry of Economy
ECONOMY
UAE’s GDP totals AED 430bln in Q1 2024 with 3.4

per cent growth

H.E. Bin Touq: Non-oil GDP grows by 4 per cent in Q1 2024 supporting the achievement of
the ‘We the UAE 2031’ vision

Press Release

September 9, 2024

Financial & insurance activities top non-oil economic activities with the fastest growth rate of 7.9

per cent due to the increase in the local credit to the private sector
Robust tourism inflows to the UAE lead to a 4.6 per cent growth in restaurant and hotel activities

Abu Dhabi: H.E. Abdulla bin Touq Al Marri stated: “The preliminary estimates of the UAE’s GDP growth
in the first quarter (Q1) of 2024, issued by the Federal Competitiveness and Statistics Centre (FCSC),
once again underline the resilience and vitality of the national economy and exemplify its ability to

continue on the path of sustainable growth. They also reflect the UAE’s commitment to fostering
economic diversification focused on knowledge economy sectors, as the country’s real GDP reached

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