Page 425 - MOE ENGLISH PR REPORT - MARCH 2025

3/17/25, 2:34 PM UAE’s real GDP grows 3.8 percent in 9M 2024, non-oil sector's contributions hit 74.6 percent
Transport and storage support growth
The most prominent economic activities with the highest growth in GDP during the first nine
months of 2024 were transport and storage activities, which witnessed a growth of 7.9 percent. The
center attributed the sector growth to the strong performance of passenger traffic and flights at the
UAE’s airports, which recorded more than 103 million passengers, with a growth rate of about 20
percent.
As for the construction and building sector, it achieved a growth of 7.4 percent in 2024 due to a
significant increase in investments in urban infrastructure projects. Meanwhile, financial and
insurance activities grew by 6.8 percent, government activities by 5.0 percent and restaurants and
hotels by 4.9 percent.

Bin Touq added that national efforts continue to increase the contribution of non-oil sectors to the
national economy, develop more flexible and competitive economic legislations, enhance economic
openness to the world, and build productive partnerships with key regional and global markets.
These efforts support the objectives of the “We the UAE 2031” vision, which aims to raise the
UAE’s GDP to AED3 trillion by the next decade and establish the UAE as a global hub for the new
economy.
Read: Saudi Arabia approves launch of Investment Marketing Authority to support growth in
key sectors
Trade boosts UAE’s non-oil GDP in 2024
In terms of economic activities that contribute the most to the UAE’s non-oil GDP, the trade sector
ranked first with a contribution of 16.5 percent, followed by the manufacturing sector with 15.1
percent, and the financial and insurance activities with 12.1 percent. In addition, the construction
sector contributed 11.7 percent while real estate activities contributed 7.6 percent.
“The data issued by the Federal Competitiveness and Statistics Center showed that the growth of the
UAE’s GDP during the first nine months of last year reflects the country’s strong economic
performance and its clear future vision that focuses on promoting sustainable economic growth
supported by non-oil sectors. The UAE’s wise leadership adopts economic diversification as a solid
approach and focus for future trends, and a driving force for achieving more accomplishments and
ensuring sustainable economic growth,” stated Her Excellency Hanan Mansour Ahli, director of the
Federal Competitiveness and Statistics Center.

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