Page 322 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)
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9/19/24, 11:56 AM UAE's non-oil GDP grows 4 percent in Q1 2024
UAE’s non-oil GDP grows 4 percent in Q1 2024
Real GDP grows 3.4 percent during the period, touching AED430 billion
Robust tourism inflows to the UAE lead to a 4.6 per cent growth in restaurant and hotel activities
Published: Mon 9 Sep 2024, 1:12 PM Last updated: Mon 9 Sep 2024, 1:13 PM
The UAE’s non-oil GDP grew by 4 percent in Q1 2024 compared to the same period last year, it
was revealed on Monday.
Moreover, the country’s real GDP grew 3.4 percent during the period, touching AED430 billion in
Q1 2024.
“The preliminary estimates of the UAE’s GDP growth in the first quarter 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,” said Abdulla bin Touq Al Marri, the UAE minister of economy.
Read: UAE targets $27.2 billion in tourism investments by 2031, increasing GDP contribution to
$122.5 billion
“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 and Prime
Minister of the UAE 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,” he added.
Non-oil economic activities surge
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