Page 214 - MOE ENGLISH PR REPORT - DECEMBER 2024

1/2/25, 5:43 PM UAE’s GDP grows by 3.6% in H1 2024 - Aletihad News Center

Bin Touq explained that the value of the UAE's real GDP (at constant prices) reached Dh879.6 billion in the first half of

2024, recording a notable increase of 3.6 percent.

Meanwhile, the value of the non-oil GDP during the same period was approximately Dh660 billion, with a growth of 4.4
percent, compared to the same period last year.

With this, the contribution of non-oil sectors to the country's GDP has reached 75 percent.

The estimates also indicated that the UAE's nominal GDP (at current prices) during the first half of 2024 reached
approximately Dh981 billion, registering a growth rate of 5.6 percent.

Meanwhile, the value of non-oil GDP at current prices during the same period rose to about Dh749 billion, with a
growth rate reaching 6.8 percent, compared to the first half of 2023.

Bin Touq said, "The achievements highlight the visionary leadership of President His Highness Sheikh Mohamed bin
Zayed Al Nahyan, and strategic guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President
and Prime Minister of the UAE, and Ruler of Dubai. The UAE has successfully laid the foundation for a sustainable,

diversified economy driven by innovation and knowledge, aligning with global trends while maintaining its position as a
premier economic hub regionally and internationally."

"This progress paves the way for achieving the economic goals outlined in 'We the UAE 2031' vision, including raising
the UAE's GDP to Dh3 trillion within the next decade."

The Minister of Economy stated that the robust growth of non-oil sectors during the first half of 2024 reflects the

dynamic nature of the UAE's economy and its capacity to seize emerging opportunities across multiple fields.

Bin Touq noted strong performance in key sectors, including transport, storage, finance, and construction, fuelled by

initiatives to promote entrepreneurship, trade, and investment, as well as major developmental projects launched
earlier this year.

Tourism also recorded sustained growth, further reinforcing the UAE's standing as a global tourism hub.

Additionally, the Minister underscored the importance of continued efforts and sector-wide integration to drive

sustainable and inclusive economic progress.

Managing Director of the Federal Competitiveness and Statistics Centre (FCSC), Hanan Mansour Ahli, said, "The GDP
figures for the first half of this year, published by the FCSC, reaffirm the UAE's dedication to implementing its policy of

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