The United Arab Emirates has recorded solid economic growth, with GDP reaching AED 1.776 trillion, marking a 4% year-on-year increase. This growth was largely driven by non-oil sectors, which now account for over 75% of the national economy, according to data published by the Federal Competitiveness and Statistics Centre (FCSC).
This performance highlights the effectiveness of the country’s economic diversification strategies, which increasingly focus on high-value sectors to reduce dependence on hydrocarbons.
A More Sustainable Economic Model
Non-oil sectors generated AED 1.342 trillion—up 5% compared to the previous year—while oil-related activities accounted for AED 434 billion. According to UAE Minister of Economy Abdulla bin Touq Al Marri, these figures reflect “tangible results” in the country’s transition toward a knowledge- and innovation-driven economy.
The long-term goal? Reaching AED 3 trillion in GDP by 2031, in line with the ambitious We the UAE 2031 national vision.
Key Growth Drivers
Among the top-performing sectors were:
- Transport and logistics (+9.6%), supported by a surge in air traffic, with over 147 million passengers handled.
- Construction and infrastructure (+8.4%), driven by major urban development projects.
- Financial and insurance activities (+7%)
- Hospitality and food services (+5.7%)
- Real estate (+4.8%)
These sectors are becoming fundamental pillars of the UAE economy, reinforcing the country’s role as a regional hub for trade, tourism, finance, and logistics.
Top Non-Oil Contributors to GDP
The breakdown of the non-oil economy shows:
- Trade (16.8%)
- Manufacturing (13.5%)
- Financial and insurance activities (13.2%)
- Construction (11.7%)
- Real estate activities (7.8%)
The growing diversification of the UAE’s economic fabric presents valuable opportunities for international businesses looking to invest in a dynamic and constantly evolving market.
A Strategic Environment for Foreign Companies
These recent results confirm the resilience of the UAE economy and its potential as a platform for strategic projects and international partnerships. For companies considering the UAE as a launchpad for expansion into the Gulf, the Middle East, and beyond, the current landscape has never been more promising.