Page 167 - MOE ENGLISH PR - MAY 2024

In 2023, the GDP stood at Dh1.68 trillion at constant prices, marking a 3.6 per
cent increase from 2022. Furthermore, the non-oil GDP reached Dh1.25
trillion, reflecting a 6.2 per cent growth compared to 2022.

He said, "These figures solidify the UAE’s position as the fifth-largest
economy globally in terms of real GDP growth index. Moreover, the UAE
ranks among the top 10 economies globally across various competitiveness
indicators tied to GDP.”

He added, “The national economy continues to demonstrate remarkable
performance under the leadership 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 accomplished indicators and notable outcomes underscore
UAE’s progress in achieving the objectives outlined by the ‘We the UAE 2031’
vision, which aims to elevate the country’s GDP to Dh3 trillion within the next
decade and foster a shift towards a new economic model centred around

diversity and innovation.”

Abdullah bin Touq said that by the end of 2023, the contribution of non-oil

sectors to the country’s GDP reached 74.3 per cent, marking a record-
breaking growth of 2.5 per cent as compared to 2022. This milestone supports
our developmental objectives and fosters a diversified and sustainable
national economy.

He further highlighted the country’s implementation of resilient and ambitious
economic policies and legislation to address global challenges. Furthermore, it
has devised strategic plans that promote economic diversification, support
emerging sectors and advance the new economy, further strengthening the

UAE’s economic position regionally and globally.

Hanan Mansoor Ahli, Executive Director of the Competitiveness Sector at the
Federal Competitiveness and Statistics Authority, emphasised that the growth

of the country’s GDP highlights the success of various economic sectors in
implementing the wise leadership’s directives. These directives prioritise
economic diversification, drive investments and attract capital, entrepreneurs,

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