Page 345 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 11:58 AM UAE's GDP hits AED 430 billion in Q1 2024 - Virgin Radio Dubai
million travellers, a growth rate of 14.7 per cent compared to the same period last year.

The UAE's ports have demonstrated exceptional performance during this time, with Dubai's international ports
witnessing a 3.7 per cent growth in the number of containers handled, while Abu Dhabi's ports experienced a 36 per

cent increase in cargo handling volume on an annual basis.

Ranking third, construction and building activities experienced a growth rate of 6.2 per cent, which aligns with the
several development projects initiated by the UAE government in early 2024. They saw a substantial rise in the
government's public capital expenditures, reaching AED4.8 billion, compared to that of Q1 2023.

The restaurant and hotel sector secured the fourth spot with a 4.6 per cent growth during the first quarter of 2024

compared to the corresponding period in 2023.

Dubai witnessed an influx of 5.18 million international tourists, representing an 11 per cent increase compared to the
corresponding period in 2023. Abu Dhabi also maintained its exceptional performance in key tourism indicators,
including the average hotel occupancy rates and revenue per available rooms.

Trade activities made the largest contribution to the non-oil GDP, accounting for 16.1 per cent. Manufacturing

activities come in second at 14.6 per cent, with financial and insurance activities ranking third at a rate of 13.4 per
cent.

Construction and building activities contribute 11.8 per cent, followed by real estate activities with a contribution of
7.1 per cent.

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