Page 362 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 11:59 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
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 in
line 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 AED 4.8
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. Moreover, the UAE
emerged at the forefront of global tourism landscape, attracting a substantial number of

tourists from around the world. In particular, Dubai witnessed a remarkable influx of 5.18
million international tourists, representing an 11 per cent increase as 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.

Non-oil economic activities contribute significantly to non-oil GDP

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 the real estate activities with a contribution of 7.1 per cent.

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