Page 491 - MOET ENGLISH PR REPORT - JUNE 2025

6/17/25, 8:48 AM UAE GDP hits $483.6 billion in 2024, marking 4 percent growth
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.

Read more: CBUAE projects UAE GDP growth of 4.7 percent in 2025, 5.7 percent in 2026

Key growth sectors

The transport and storage sector emerged as the fastest-growing contributor to GDP in 2024, recording a 9.6 percent 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 percent.
The building and construction sector followed with an 8.4 percent growth rate, supported by substantial investments in
urban infrastructure. Financial and insurance activities expanded by 7 percent, while the hospitality sector, encompassing
hotels and restaurants, rose by 5.7 percent. Meanwhile, the real estate sector recorded a 4.8 percent growth.
Regarding non-oil economic activities that contributed most to the GDP, the trade sector contributed 16.8 percent, the
manufacturing sector accounted for 13.5 percent, and financial and insurance activities contributed 13.2 percent.
Construction and building contributed 11.7 percent, while real estate activities accounted for 7.8 percent of the non-oil
GDP.

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