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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."

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