Page 324 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 11:56 AM 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

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

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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, 9 September 2024:

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 AED 430 billion in Q1 2024, recording a remarkable growth of 3.4 per cent compared to
the same period in 2023, while the non-oil GDP grew by 4 per cent compared to the same period last year”.

“Under the guidance of H.H Sheikh Mohammed bin Zayd Al Nahyan, President of the UAE, Ruler of Abu Dhabi, and
the directives of H.H Sheikh Mohammed bin Rashed Al Maktoum, Vice President and Prime Minister of the UAE,
Ruler of Dubai, the country adopted an innovative economic model that supports its future vision, along with

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