Dubai’s economy expanded by 3.1% year-on-year in the first nine months of 2024, with its GDP reaching Dh339.4 billion, driven by robust growth across key sectors. The wholesale and retail trade sector, the largest contributor, grew 2.9% to Dh83.12 billion, representing 24.5% of the emirate’s GDP and contributing 22.6% to overall economic growth.
The transportation and storage sector recorded a 5.3% expansion to Dh42.14 billion, accounting for 12.4% of the GDP and driving 20.8% of total growth. The sector benefited from increased demand in air transport services, with national carriers playing a major role.
The financial and insurance sector posted 4.5% growth to Dh39.44 billion, representing 11.6% of the economy and contributing 16.6% to overall growth. Similarly, the real estate sector grew by 3.6% to Dh27.29 billion, making up 8% of GDP and 9.2% of total growth.
Other critical sectors also showed strong performance. The manufacturing sector expanded by 2.3% to Dh28.34 billion, while the information and communications sector grew by 4.1% to Dh15.86 billion. Accommodation and food services increased by 3.7%, reflecting the continued recovery of Dubai’s tourism industry.
Dubai’s broader growth is part of the emirate’s long-term strategy under the D33 agenda, aiming to double the economy by 2033 through innovation, sustainability, and international partnerships.
