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H.E. Abdulla bin Touq Al Marri: Under the wise leadership’s vision, the UAE has built an innovative economic model based on global best practices. The continuous growth of the national economy reflects the success of the UAE’s economic diversification policies.
We remain committed to achieving the goals of “We the UAE 2031”, aiming to expand the UAE’s GDP to AED 3 trillion by the next decade and securing the UAE’s position as a global hub for new economy.
Hanan Ahli: The UAE’s robust economic performance is backed by a clear future-oriented vision focused on sustainable economic growth.
Additional Subtitles:
• UAE’s real GDP reaches AED 1.322 trillion
• Non-oil GDP reaches AED 987 billion
• Contribution of non-oil sectors to real GDP is 74.6%
• Top-growing sectors: Transport, construction, finance, government, and hospitality
• Leading contributors to non-oil GDP: Trade, manufacturing, finance, construction, and real estate
• Nominal GDP reaches AED 1.486 trillion (6% growth)
• Nominal non-oil GDP reaches AED 1.136 trillion (6.6% growth)
The UAE has recorded significant growth in its real GDP by 3.8%, reaching AED 1.322 trillion in the first nine months of 2024, compared to the same period in 2023. Meanwhile, non-oil GDP expanded by 4.5% to AED 987 billion, accounting for 74.6% of total real GDP, while oil-related activities accounted for 25.4%.
Commenting on this performance, H.E. Abdulla bin Touq Al Marri, Minister of Economy, emphasized that the UAE’s sustained economic growth is a testament to the success of its policies and strategies aimed at enhancing economic diversification, streamlining business operations, and driving the expansion of new economy sectors as key drivers of sustainable economic and social development. He highlighted that, under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, the UAE has built an agile and globally competitive economic model capable of adapting to global challenges and rapid changes.
“The UAE continues to increase the contribution of non-oil sectors to the national economy by developing flexible economic legislation, enhancing global trade openness, and building strategic partnerships with key international markets. These efforts align with the “We the UAE 2031” vision, which aims to grow the UAE’s GDP to AED 3 trillion within the next decade and secure its position as a global economic hub,” H.E. bin Touq added.
Hanan Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, stated: “The UAE’s GDP growth over the past nine months reflects our strong economic performance and future-driven vision focused on sustainable economic expansion, led by non-oil sectors.”
“Economic diversification remains a key pillar of the UAE national strategy, ensuring long-term growth in the economy and in key economic and development indicators,” she emphasized.
Top-Growing Economic Sectors
During the first nine months of 2024, the UAE’s fastest-growing economic sectors showcased remarkable expansion compared to the same period in 2023. The transport and storage sector experienced a significant growth of 7.9%, largely driven by a surge in passenger traffic at UAE airports, which welcomed over 103 million travelers, marking a 20% increase. Similarly, the construction and building sector expanded by 7.4%, fueled by substantial investments in large-scale urban infrastructure projects. The financial and insurance sector also saw steady growth, rising by 6.8%, while government activities expanded by 5.0%. Additionally, the hospitality and restaurant sector recorded a 4.9% increase, reflecting the continued momentum in the tourism industry.
When examining the key contributors to non-oil GDP, trade emerged as the largest sector, accounting for 16.5% of total non-oil economic output. Following closely behind, manufacturing contributed 15.1%, underscoring the UAE’s industrial strength. The financial and insurance sector played a crucial role, making up 12.1% of non-oil GDP, while construction and building activities contributed 11.7%, and the real estate accounted for 7.6%.
Overall, the UAE’s nominal GDP reached AED 1.486 trillion during the first nine months of 2024, reflecting an impressive 6% year-on-year growth. The nominal non-oil GDP also grew significantly, reaching AED 1.136 trillion, with a 6.6% increase. Notably, non-oil sectors contributed 76.5% to the total GDP, further highlighting the UAE’s progress in economic diversification and sustainable growth.
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The UAE’s real Gross Domestic Product (GDP) reached AED 1.776 billion in 2024, recording a growth rate of 4% compared to 2023. The non-oil GDP grew by 5%, amounting to AED 1.342 billion, while oil-related sectors and activities contributed AED 434 billion.
His Excellency Abdulla bin Touq Al Marri, Minister of Economy, stated that the GDP figures issued by the Federal Competitiveness and Statistics Centre (FCSC) for 2024 represent a new notable achievement for the national economy. Affirming the UAE’s key breakthroughs under the vision and directives of its wise leadership, in driving economic diversification and enhancing global competitiveness. By the end of last year, non-oil sectors accounted for 75.5% of the country’s total GDP.
His Excellency added that these indicators reflect the success of the UAE’s economic strategies and policies aimed at transitioning to an innovative, knowledge-based, and sustainable economic model, in line with emerging trends and advanced technologies.
H.E. further stated, “We continue to enhance our national efforts under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. These efforts support the economic targets of the ‘We the UAE 2031’ vision, which aims to raise the GDP to AED 3 trillion by the next decade and strengthen the UAE’s position as a global hub for the new economy, ensuring sustainable development, leadership, and international competitiveness.”
Her Excellency Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, affirmed that the 4% growth in the UAE’s GDP last year reflects the strong performance of the national economy, which is supported by a forward-looking vision focused on sustainable, non-oil-driven growth.
H.E. noted that the UAE’s leadership continues to build a pioneering and globally advanced economic model, where economic diversification remains a key pillar and catalyst for sustainable development, community prosperity, and continued national achievements. This approach helps ensure the sustainability of GDP growth and progress across various economic and development indicators.
Top Performing Economic Activities
In terms of the most dynamic economic sectors in 2024 compared to 2023, transport and storage sector led the way with a 9.6% growth, driven by strong performance in passenger traffic and flight operations across UAE airports, which handled 147.8 million travelers, reflecting an annual growth of nearly 10%.
The construction sector expanded by 8.4%, supported by substantial investment in urban infrastructure projects. Financial and insurance activities grew by 7%, while the hospitality sector, including restaurants and hotels, increased by 5.7%, and real estate activities rose by 4.8%.
Among non-oil economic activities, trade was the largest contributor to GDP, accounting for 16.8%, followed by manufacturing at 13.5%, financial and insurance activities at 13.2%, construction at 11.7%, and real estate at 7.8%.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has chaired a Cabinet meeting held at Qasr Al Watan in Abu Dhabi.
The meeting was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court; H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister, and Minister of the Interior.
H.H. Sheikh Mohammed bin Rashid Al Maktoum said, “I chaired a Cabinet meeting at Qasr Al Watan in Abu Dhabi, where we reviewed the UAE’s performance in the 2025 IMD World Competitiveness Ranking. The UAE ranked 5th globally, alongside the world’s leading countries in economic competitiveness, government efficiency, legislative strength, and business environment excellence. Sixteen years ago, we established a competitiveness center, uniting the efforts of key national entities. These efforts have elevated the UAE’s ranking from 28th globally in 2009 to being among the top five globally in competitiveness. In the same report, the UAE ranked 1st globally in the absence of bureaucracy index, 2nd globally in government policies adaptability index, and 4th globally in government efficiency index. This achievement is a testament to years of consistent effort. With the vision of my brother, Mohamed bin Zayed, our future will continue to be even brighter and stronger.”
The UAE Cabinet reviewed the 2025 Global Competitiveness Ranking results, published by the IMD World Competitiveness Center in Lausanne, Switzerland. This year, the UAE is ranked among the top five globally, scoring 96.09 out of 100 points. The country advanced two positions from last year, surpassing countries such as the United States, Sweden, Germany, and Canada, while maintaining its top ranking as the regional leader for the ninth consecutive year.
The report evaluates 69 countries based on four key areas: economic performance, government efficiency, business efficiency, and infrastructure. Its findings cover 341 competitiveness indicators across economic, administrative, and social fields.
The 2025 edition also introduced five new indicators: food waste, environmental performance, freely elected government, passport mobility, and media bias.
This year, the UAE made significant progress in the business efficiency pillar, rising seven spots to rank third globally. It also maintained a strong standing globally in economic performance and government efficiency, ranking second and fourth, respectively.
The UAE’s exceptional performance in key sectors contributed to its leadership in 113 global indicators across the report’s main and sub-pillars. The country ranked first globally in 22 indicators, including employment rate, absence of bureaucracy, availability of global expertise, digital transformation in companies, venture capital, inbound mobility of higher education students, public-private partnerships, energy infrastructure, and female parliamentary representation.
The UAE also ranked second globally in social cohesion, flexibility of residency laws, and government policy adaptability, while securing third globally in graduates in sciences, leverage of digital tools and technology, and healthcare infrastructure.
The UAE, represented by the Federal Competitiveness and Statistics Centre (FCSC), participated in the 17th Meeting of Heads of National Statistical Offices of BRICS, held in Fortaleza, Brazil. The meeting saw the participation of high-level delegations as part of the Triple International Forum on Global South Governance.
The meeting focused on vital topics aimed at strengthening statistical cooperation among BRICS countries. Discussions included the production of digital age indicators, exchange of national experiences in economic development, poverty reduction, climate change mitigation, international statistical training, and joint publications such as the Joint Statistical Publication (JSP) of the BRICS group. These efforts aim to strengthen statistical cooperation frameworks, paving the way for further integration in data production and support for development policies within the group’s countries.
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Her Excellency Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, affirmed that UAE’s participation reflects its commitment to supporting global dialogue on shaping a data-driven future, enhancing its governance through a flexible and comprehensive knowledge system that responds to national priorities and aligns with global trends. By leveraging statistical innovation tools and enhancing cognitive integration, the aim is to build more sustainable communities.
Hanan Ahli added, “We look forward to strengthening cooperation frameworks with BRICS countries through the UN Global Platform Regional Hub in the UAE, contributing to the development of indicators that reflect the digital age realities and support joint efforts and knowledge exchange in this vital field.”
The UAE delegation highlighted the importance of developing modern statistical tools that reflect digital transformations in national economies, reaffirming the country’s commitment to enhancing international partnerships in data and evidence-based policy support. The delegation also showcased UAE’s efforts in developing data infrastructure, enabling innovation in statistical work, and deploying modern technologies such as AI and big data to support sustainable development strategies.
The UAE delegation stated that enhancing coordination and aligning the Joint Statistical Publication (JSP) of the BRICS group with public policy requirements is necessary, focusing on the specific nature and development needs of the group’s countries to enhance the effectiveness of data in decision-making processes.
It is worth mentioning that BRICS Heads of National Statistical Offices Meetings serve as a high-level platform bringing together decision-makers and international experts in statistics and big data to exchange experiences, discuss opportunities for effective cooperation and partnerships, and explore the latest innovative practices in statistical work, contributing to the development of quality initiatives that support continuous assessment of evolving needs at regional and international levels.
“President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree No. (6) for the year 2015 establishing the Federal Competitiveness and Statistics Authority (FCSA) under the UAE Cabinet.
The new Authority, to be based in the emirate of Dubai, effectively replaces the National Bureau of Statistics and the Emirates Competitiveness Council by integrating the functions of both the entities.
As per the decree, the Authority will work to strengthen the UAE’s position across all global competitiveness indicators as well as promote sustainable development, in addition to serving as the apex body that organises and manages the statistics and competitiveness sectors.
The Authority is also mandated to build an integrated national statistical system. The establishment of the FCSA supports the goals of the UAE Vision 2021, a strategic roadmap to make the UAE among the best countries in the world by 2021.
Functions of the Federal Competitiveness and Statistics Authority Aiming to support the UAE’s competitiveness indicators, the new Authority will undertake a wide array of functions to achieve its goals.
The functions of the Authority include proposing policies, strategies and plans for statistics and competitiveness in coordination with the government and the related entities, as well as evaluating international best practices in all areas of the statistics and competitiveness sectors.
The FCSA will also work to promote a culture of competitiveness, and provide training and support to all government entities for the advancement of statistics and competitive operations.
It will act as an incubator for promoting best and specialized national skills in the UAE, in addition to preparing and implementing a unified statistical system for various sectors in the country.
The Authority will also represent the nation at various international forums in the field of statistics and competitiveness. Enhancing coordination with local entities FCSA is entrusted with a bigger vision and wider tasks to make significant positive changes in strategies to strengthen the efforts of the UAE to increase its competitiveness, especially through information and data revolution.
As per the decree, the Authority is the first and only official reference for all matters related to competitiveness for global reports and surveys.
It will be also a source of official statistics regarding the nation. The Federal Competitiveness and Statistics Authority also will serve as the main link between all the federal and local governments, as well as private sector and international organisations in all matters related to the competitiveness and statistics.
The new Federal decree also nullifies the Federal Law No. 9 of 2009 concerning the National Bureau of Statistics, and eliminates all regulations contrary to or inconsistent with its provisions.
The federal decree will be published in the official newspapers, and shall be effective from the day following the date of publishing. The UAE Cabinet also issued a decree appointing Reem Ibrahim Al Hashimi, Minister of State, as Chairperson of the Federal Competitiveness and Statistics Authority.
The board will include representatives from the Executive Councils of Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Qaiwain, Ras al-Khaimah, and Al Diwan Al Amiri in Fujairah.
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UAE ranked first in Arab world for 3rd year in row in Ease of Doing Business: World Bank report 2016
- First regionally in the general classification and the number of documented improvements.
- First regionally in six out of ten categories.
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- Second globally in the category of the process of construction permits.
- Fourth globally in the category of electricity delivery.
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