Page 48 - MOET ENGLISH PR REPORT - JUNE 2025

Press Release

Economic diversification is adopted not only as a strategic objective but also as a core operational
approach, driving sustainable development and enhancing societal well-being. This model serves
as a powerful catalyst for continued progress, ensuring sustained GDP growth and positive
performance across a wide range of economic and development indicators.

Top performing economic sectors

The transport and storage sector emerged as the fastest-growing contributor to GDP in 2024,
recording a 9,6 per cent year-over-year growth. This growth was primarily driven by the
exceptional performance of UAE airports, which handled 147,8 million passengers—an increase
of approximately 10 per cent.

The building and construction sector followed with an 8,4 per cent growth rate, supported by
substantial investments in urban infrastructure. Financial and insurance activities expanded by 7
per cent, while the hospitality sector, encompassing hotels and restaurants, rose by 5,7 per cent.
Meanwhile, the real estate sector recorded a 4,8 per cent growth.

With regard to non-oil economic activities that contributed most to the GDP, the trade sector
contributed 16,8 per cent, the manufacturing sector accounted for 13,5 per cent, and financial and
insurance activities contributed 13,2 per cent. Construction and building contributed 11,7 per cent,
while real estate activities accounted for 7,8 per cent of the non-oil GDP.

-Ends-

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