Page 418 - MOE ENGLISH PR REPORT - MARCH 2025

3/17/25, 2:33 PM UAE economy grows 3.8% in first nine months of 2024, driven by non-oil sectors
country’s GDP to Dh 3 trillion in the next decade and establish the UAE as a leading global hub for

the new economy.” Al Marri added.

Meanwhile, Hanan Mansour Ahli, Director of the Federal Competitiveness and Statistics Center
(FCSC), noted that the latest GDP growth figures reinforce the UAE’s economic strength and

commitment to sustainable, non-oil-driven growth.

“The robust expansion of the UAE’s GDP in the first nine months of 2024 reflects the nation’s clear

vision for economic progress, underpinned by its focus on non-oil sectors,” said Ahli. “Economic

diversification is a fundamental pillar of the UAE’s future strategy, ensuring sustained growth across

key economic indicators.”
The first nine months of 2024 have seen significant growth in various sectors. The transport and

storage sector led with a growth rate of 7.9 per cent, driven by impressive performance in the

aviation sector, where airports in the UAE recorded over 103 million passengers, a 20 per cent

growth.

The construction sector followed closely with a 7.4 per cent increase, supported by substantial
investments in urban infrastructure projects.

The financial and insurance sectors also showed a notable 6.8 per cent growth, while government

activities grew by 5.0 per cent. Additionally, the restaurant and hotel sectors reported a 4.9 per cent

increase.

Regarding contribution to the non-oil GDP, the trade sector topped the list with a share of 16.5 per

cent, followed by manufacturing industries contributing 15.1 per cent.

The financial and insurance sectors contributed 12.1 per cent, construction activities comprised 11.7

per cent, and real estate activities contributed 7.6 per cent.
The nominal GDP of the UAE for the first nine months of 2024 reached Dh 1.48 trillion, growing

by 6 per cent compared to the same period in 2023.

The non-oil GDP at current prices amounted to Dh1.14 trillion, reflecting a growth rate of 6.6 per

cent. Non-oil activities contributed 76.5 per cent of the nominal GDP, while oil-related activities

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