Page 327 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 11:56 AM UAE’s Real GDP Grows 3.4% To $117B In First Quarter
UAE Economy Grows 3.4% To $117B In First Quarter, Driven

By Non-Oil Sector

By Syed Sadain Gardazi Forbes Middle East Staff Sep 09, 2024, 16:42 PM

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Financial and insurance activities remained the leading contributor to UAE's GDP from among the non-oil economy in Q1,
registering a 7.9% year-on-year growth. Image by Umar Shariff / Shutterstock

The UAE’s economy grew 3.4% year-on-year in the first quarter of 2024 to $117.1 billion (AED

430 billion), largely driven by the non-oil sector, according to the Federal Competitiveness and
Statistics Centre (FCSC).

UAE’s GDP

The Gulf state's non-oil gross domestic product (GDP) increased by 4% during the first quarter,

FCSC said in a statement Monday.

Among different sub-categories in the non-oil sector, financial and insurance activities remained the

leading contributor to GDP, registering a 7.9% year-on-year growth, buoyed by a significant surge

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