Page 331 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

UAE’s GDP hits AED430 billion in Q1 2024

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ABU DHABI, 9th September, 2024 (WAM) — 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 AED430 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.

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