The UAE’s GDP is projected to grow by 3.3% in 2024, rising to 4.1% in 2025, according to the World Bank’s latest MENA Economic Update. The report highlights the UAE’s leading role with real GDP per capita growth rates of 2.5% in 2024 and 3.4% in 2025, driven by strong non-oil sector performance.
Despite diversification efforts, the UAE’s current account surplus is expected to decline to 7.5% of GDP in 2024, down from 9.2% in 2023. However, the country is forecast to maintain fiscal surpluses of 4.9% in 2024 and 4.7% in 2025.
Overall, MENA’s GDP growth is expected to rise modestly to 2.2% in 2024, up from 1.8% in 2023, driven by growth in Gulf Cooperation Council (GCC) countries. GCC growth is projected to strengthen from 1.9% in 2024 to 4.2% in 2025, while growth in developing oil exporters is forecast at 2.7% in 2024 and 2.1% for developing oil importers.
