Page 390 - MOE ENGLISH PR REPORT - MARCH 2025

3/18/25, 9:12 AM Non-oil sector now makes up nearly 75% of UAE’s economy
The UAE’s real GDP grew by 3.8 per cent in the first nine months of 2024 compared to the

same period in 2023, reaching Dhs1.3tn, according to the Ministry of Economy’s latest
economic data.

ADVERTISING

This growth was largely driven by the non-oil sector, which expanded by 4.5 per cent to

Dhs987bn, underscoring the country’s progress in economic diversification.

As a result, non-oil activities now contribute 74.6 per cent to real GDP, while oil-related
sectors account for 25.4 per cent, according to the data . The figures highlight the

increasing role of industries such as trade, tourism, financial services, and technology in

supporting the UAE’s economy.

Economic diversification in focus

Abdullah bin Touq Al Marri, Minister of Economy, attributed the UAE’s sustained economic

expansion to the country’s policies aimed at diversifying revenue streams, attracting

investment, and fostering an innovation-led economy.

The UAE has focused on building an innovative economic model that aligns with global

best practices and responds effectively to international economic shifts, according to a
statement on WAM.

Ambitions for 2031

The UAE’s economic policies are also aligned with the ‘We the UAE 2031’ vision, which
aims to increase GDP to Dhs3tn within the next decade. Part of this strategy involves

https://gulfbusiness.com/uae-non-oil-economy/ 2/3