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UAE's GDP rises

3.6%, secures 5th

largest economy

position in real

GDP growth index

globally

24-7 PRESS RELEASE
NEWSWIRE
Tuesday, June 4, 2024 at 11:00am GMT+4

DUBAI, UAE, June 04, 2024 /24-7PressRelease/ -- The United Arab Emirates (UAE) has
recorded strong economic performance for the year 2023, with Gross Domestic Product

(GDP) at constant prices reaching AED 1.68 trillion, reflecting a robust 3.6 per cent

increase from 2022. This growth reflects the UAE's continued economic resilience and
strategic advancements across key sectors.

His Excellency Abdulla bin Touq Al Marri, the UAE Minister of Economy, said:

"Preliminary data for the UAE's 2023 GDP showcases positive growth trends across
various indicators, including key sectors crucial to the national economy. In 2023, the
GDP stood at AED 1.68 trillion at constant prices, marking a 3.6 per cent increase from

2022. Furthermore, the non-oil GDP reached AED 1.25 trillion, reflecting a 6.2 per cent

growth compared to 2022. These figures solidify the UAE's position as the fifth-largest
economy globally in terms of real GDP growth index. Moreover, the UAE ranks among

the top 10 economies globally across various competitiveness indicators tied to GDP."

H.E. added: "The accomplished indicators and notable outcomes underscore UAE's
progress in achieving the objectives outlined by the 'We the UAE 2031' vision, which

aims to elevate the country's GDP to AED 3 trillion within the next decade and foster a
shift towards a new economic model centered around diversity and innovation."

Contribution of Non-oil Sectors to UAE National Economy

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