Page 395 - MOE ENGLISH PR REPORT - MARCH 2025

3/18/25, 9:13 AM UAE sees 3.8% GDP growth in first 9 months of 2024

The growth of the non-oil sector in the UAE aligns with the broader trend in the
Middle East region, whe re countries such as Saudi Arabia are
pursuing economic diversification programs.

Abdullah bin Touq Al Marri, UAE’s minister of economy, said that the
continuous growth of the country’s economy reaffirms the success of the

Emirates’ economic policies and strategies to enhance diversification.

He added tha t the country also facilitates a friendly environment for business

activities and promotes the expansion of new economic sectors as a key driver
for sustainable economic and social development.

An analysis by the Central Bank of UAE in December said that the country’s
GDP is expected to post a growth of 4 percent in 2024, driven by strong
performance across key non-oil sectors, including tourism, transportation, and

financial services, as well as insurance, construction, real estate, and
communications.

CBUAE added tha t the Emirates’ economic growth is projected to accelerate
furthe r to 4.5 percent in 2025 and 5.5 percent in 2026.

The apex financial institution further said that the UAE’s non-oil GDP is
projected to expand by 4.9 percent in 2024 and 5 percent in 2025.

The study attributed thi s projected boost to strategic government policies
aimed at attracting foreign investment and promoting economic diversification.

In terms of the economic growth in the region, data released by Bahrain’s
Information & eGovernment Authority in January revealed that the country’s
GDP witnessed an increased rate of 2.1 percent in the third quarter of 2024

compared to the same period in 2023.

In December, Qatar’s National Planning Center revealed that the country’s GDP

rose by 2 percent in the thi rd quarter of 2024 compared to the same period in
the previous year.

Earlier thi s month, the Saudi Arabia’s General Authority for Statistics revealed
tha t the nation’s non-oil exports increased by 17.3 percent in the fourth quarter
2024 to reach SR82.05 billion ($21.88 billion).

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