Page 539 - MOET ENGLISH PR REPORT - JUNE 2025

6/16/25, 9:26 AM UAE’s GDP reached AED1,776 billion in 2024 with 4% growth – UAE BARQ
by the next decade, while reinforcing its position as a global hub for the new economy, driven by sustainable

development, international competitiveness, and forward-looking leadership.”

Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, highlighted that
the 4 percent GDP growth in 2024 reflects the UAE’s exceptional economic performance, supported by a

forward‑looking vision focused on sustainable, non‑oil‑driven growth.

Hanan Ahli further stated that the guidance and forward-looking vision of the UAE’s wise leadership are focused
on building an advanced and globally competitive economic model. 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.

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.

With regard to 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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