Page 427 - MOE ENGLISH PR REPORT - MARCH 2025

3/17/25, 2:34 PM UAE’s Economy Grew 3.8% In The First Nine Months Of 2024
In the first nine months of 2024, various sectors in the UAE experienced notable growth. The
transport and storage sector led with a 7.9% increase, fueled by a strong performance in aviation.

Airports in the UAE handled over 103 million passengers, marking a 20% surge.

The construction sector came in next with a 7.4% increase, driven by major investments in urban
infrastructure. The financial and insurance sectors grew by 6.8%, while government activities

expanded by 5.0%. The restaurant and hotel sectors also saw a 4.9% rise.

In terms of contribution to non-oil GDP, the trade sector led with a 16.5% share, followed by
manufacturing industries at 15.1%.

Boosting non-oil contributions

The UAE’s Minister of Economy Abdullah bin Touq Al Marri said that the sustained growth of the

country’s economy reflects the effectiveness of its policies and strategies, which focus on enhancing

diversification, streamlining business operations, and expanding new sectors to drive sustainable
economic and social development.

“The UAE has built an innovative economic model aligned with global best practices, capable of
adapting to global economic shifts and challenges,” Al Marri said.

He further stated that the UAE remains committed to boosting the contribution of non-oil sectors,

implementing more flexible and competitive economic legislation, and enhancing economic
openness to global markets.

According to Al Marri, forging strong partnerships with key economies across the globe will

strengthen the UAE’s economic foundations and will help achieve the UAE 2031 vision, which
aims to grow the country’s GDP to $816.8 billion (AED3 trillion) in the next decade.

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