Page 369 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/19/24, 12:00 PM PRESSR: UAE’s GDP totals AED 430bln in Q1 2024 with 3.4 per cent growth — TradingView News
PRESSR: UAE’s GDP totals

AED 430bln in Q1 2024 with 3.4

per cent growth

Sep 9, 202413:33 GMT+4

Financial & insurance activities top non-oil economic activities with the
fastest growth rate of 7.9 per cent due to the increase in the local credit to

the private sector

Robust tourism inflows to the UAE lead to a 4.6 per cent growth in restaurant

and hotel activities

Abu Dhabi: 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

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