The United Arab Emirates' Gross Domestic Product (GDP) grows by 3.6% during the first half of 2024.
AlEtihad (nprofile…yefn)
Abdullah bin Touq Al Marri, Minister of Economy, stated that the preliminary estimates of the UAE's gross domestic product (GDP) for the first half of 2024, released by the Federal Competitiveness and Statistics Center, indicate that the national economy will continue to achieve record levels of growth and competitiveness, solidifying the country's position as a leading economic power and an attractive destination for businesses and investments. The minister pointed out that the real GDP, at constant prices, reached AED 879.6 billion during the first half of the current year, with a growth rate of 3.6%, while the non-oil GDP reached AED 660 billion, with a growth rate of 4.4%, accounting for 75% of the country's total GDP. The estimates also showed that the nominal GDP, at current prices, reached around AED 981 billion during the first half of 2024, with a growth rate of 5.6%, while the non-oil GDP at current prices reached around AED 749 billion, with a growth rate of 6.8%, compared to the first half of 2023. Abdullah bin Touq Al Marri emphasized that the achieved results reflect the vision of the UAE, led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the guidance of His Highness Sheikh Mohamed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish a sustainable and diversified economy that is based on innovation and knowledge, and keeps pace with global changes, while maintaining the country's position as a leading economic power at the regional and international levels, which will enhance the country's economic goals, including increasing its GDP to AED 3 trillion by the end of the next decade. He added that the strong performance of non-oil sectors during the first half of 2024 reflects the vitality of the national economy and its ability to invest in promising opportunities in various fields, highlighting that many strategic sectors, such as transportation, storage, financial activities, construction, and tourism, recorded significant growth rates due to the stimulation of entrepreneurship, trade, and investment activities, as well as the launch of development projects and tourism activities, which have witnessed continuous growth, making the UAE a global tourist destination. He stressed the need to continue working and integrating efforts between various sectors in the country to achieve comprehensive and sustainable economic development.
https://www.aletihad.ae/news/%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA/4540376/%D8%A7%D9%84%D9%86%D8%A7%D8%AA%D8%AC-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A-%D8%A7%D9%84%D8%A5%D8%AC%D9%85%D8%A7%D9%84%D9%8A-%D9%84%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%8A%D9%86%D9%85%D9%88-%D8%A83-6--%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%A3%D9%88%D9%84
Abdullah bin Touq Al Marri, Minister of Economy, stated that the preliminary estimates of the UAE's gross domestic product (GDP) for the first half of 2024, released by the Federal Competitiveness and Statistics Center, indicate that the national economy will continue to achieve record levels of growth and competitiveness, solidifying the country's position as a leading economic power and an attractive destination for businesses and investments. The minister pointed out that the real GDP, at constant prices, reached AED 879.6 billion during the first half of the current year, with a growth rate of 3.6%, while the non-oil GDP reached AED 660 billion, with a growth rate of 4.4%, accounting for 75% of the country's total GDP. The estimates also showed that the nominal GDP, at current prices, reached around AED 981 billion during the first half of 2024, with a growth rate of 5.6%, while the non-oil GDP at current prices reached around AED 749 billion, with a growth rate of 6.8%, compared to the first half of 2023. Abdullah bin Touq Al Marri emphasized that the achieved results reflect the vision of the UAE, led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the guidance of His Highness Sheikh Mohamed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish a sustainable and diversified economy that is based on innovation and knowledge, and keeps pace with global changes, while maintaining the country's position as a leading economic power at the regional and international levels, which will enhance the country's economic goals, including increasing its GDP to AED 3 trillion by the end of the next decade. He added that the strong performance of non-oil sectors during the first half of 2024 reflects the vitality of the national economy and its ability to invest in promising opportunities in various fields, highlighting that many strategic sectors, such as transportation, storage, financial activities, construction, and tourism, recorded significant growth rates due to the stimulation of entrepreneurship, trade, and investment activities, as well as the launch of development projects and tourism activities, which have witnessed continuous growth, making the UAE a global tourist destination. He stressed the need to continue working and integrating efforts between various sectors in the country to achieve comprehensive and sustainable economic development.
https://www.aletihad.ae/news/%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA/4540376/%D8%A7%D9%84%D9%86%D8%A7%D8%AA%D8%AC-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A-%D8%A7%D9%84%D8%A5%D8%AC%D9%85%D8%A7%D9%84%D9%8A-%D9%84%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%8A%D9%86%D9%85%D9%88-%D8%A83-6--%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%A3%D9%88%D9%84