The UAE’s real GDP climbed to approximately $483 billion in 2024, posting a 4% increase from the previous year, according to the Emirates News Agency (WAM). Non-oil sectors were the key driver, growing by 5% to reach nearly $364 billion, and now contributing 75.5% of the total GDP. Oil-related activities accounted for around $118 billion.
The transport and storage sector led growth with a 9.6% increase, buoyed by record airport traffic of 147.8 million passengers—a rise of about 10%. The construction sector grew by 8.4%, driven by heightened investment in urban infrastructure.
Additional sector performance highlights include:
Financial and insurance services: +7%
Hospitality (hotels and restaurants): +5.7%
Real estate activities: +4.8%
In the composition of non-oil GDP:
Trade contributed 16.8%
Manufacturing: 13.5%
Financial and insurance: 13.2%
Construction: 11.7%
Real estate: 7.8%
These results reflect the UAE’s continued push for economic diversification and resilience beyond oil.
Source: Emirates News Agency
