Page 333 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 11:57 AM UAE’s GDP totals AED 430bln in Q1 2024 with 3.4 per cent growth – Bizpreneur Middle East
UAE’s GDP totals AED 430bln in Q1 2024 with 3.4

per cent growth

LATEST NEWS, NEWS September 9, 2024 News

Photo: H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy
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 effective national economic strategies, enhancing openness
to the world, promoting partnerships, and transitioning towards an economic model based on
flexibility and innovation,” H.E. Bin Touq added.
Furthermore, H.E Bin Touq highlighted that the positive results the national economy has achieved
fall in line with the economic objectives of ‘We the UAE 2031’ vision, which includes raising the
country’s GDP to AED 3 trillion by the next decade.

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