The UAE’s real GDP expanded by 3.8% in the first nine months of 2024 compared to the same period in 2023, reaching Dh1.32 trillion. This growth was primarily driven by a 4.5% increase in non-oil sectors, which contributed Dh987 billion, underscoring the nation’s economic diversification efforts.
Non-oil activities accounted for 74.6% of the real GDP, while oil-related activities contributed 25.4%. Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, highlighted that this continuous growth reflects the country’s economic policies’ effectiveness at enhancing diversification, facilitating business activities, and promoting the expansion of new economy sectors as drivers for sustainable development.
In a related development, Dubai’s economy grew by 3.1% during the same period, reaching Dh339.4 billion. Key sectors contributing to this growth included wholesale and retail trade, transportation and storage, and financial and insurance activities.
