The UAE’s real GDP posted a significant growth of 3.8% during the first nine months of 2024 compared to the same period in 2023, reaching AED1.322 trillion ($359 billion), according to data released by Ministry of Economy.
This growth was driven by a strong expansion in non-oil sectors, which grew by 4.5% to AED987 billion, reflecting the success of the country's economic diversification strategy, it stated.
The contribution of non-oil activities to real GDP reached 74.6%, highlighting the increasing role of these sectors in supporting economic growth, while oil-related activities contributed 25.4%, it added.
Abdullah bin Touq Al Marri, Minister of Economy, pointed out that the continuous growth of the national economy reaffirms the success of the UAE’s economic policies and strategies.
These are aimed at enhancing economic diversification, facilitating business activities and promoting the expansion of new economy sectors as a key driver for sustainable economic and social development, he added.-TradeArabia News Service