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UAE's GDP growth rate on track to achieve 2031 vision

The growth underscores country's accelerating diversification efforts as it eyes a 5–6% GDP surge in
2025 and cements its position as a global hub for innovation, trade, and investment

Published: Thu 6 Mar 2025, 1:42 PM

• By

• Issac John

The UAE recorded a robust 3.8 per cent economic expansion in the first nine months of 2024,
powered by a dynamic non-oil sector that now accounts for nearly 75 per cent of the nation’s GDP,
officials announced this week.
The growth underscores the UAE’s accelerating diversification efforts as it eyes a 5–6 per cent GDP
surge in 2025 and cements its position as a global hub for innovation, trade, and investment.

Real gross domestic product (GDP) for the nine-month period ending September 2024 climbed to
Dh1.32 trillion ($359 billion), with the non-oil economy rising by 4.5 per cent annually to Dh987
billion ($269 billion). The oil sector, meanwhile, contributed 25 per cent to the GDP, reflecting the
UAE’s strategic success in reducing reliance on hydrocarbons.

Abdullah bin Touq Al Marri, UAE Minister of Economy, attributed the sustained growth to the
country’s “forward-thinking economic policies,” including streamlined business regulations, global
trade partnerships, and targeted investments in technology, renewable energy, logistics, and

https://www.khaleejtimes.com/business/uaes-gdpgrowth-rate-on-track-to-achieve-2031-vision