Abu Dhabi: The UAE's real gross domestic product (GDP) reached AED1.77 trillion in 2024, marking a 4% growth compared to 2023.
According to Bahrain News Agency, this performance was primarily fueled by non-oil sectors, which expanded by 5% to AED1.34 trillion, contributing 75.5% to the total GDP. Oil-related activities accounted for AED434 billion.
The transport and storage sector emerged as the fastest-growing segment, increasing by 9.6%, aided by unprecedented airport activity with 147.8 million passengers, representing a 10% rise. The construction sector saw an 8.4% increase, driven by heightened investment in urban infrastructure. Financial and insurance activities grew by 7%, hospitality, including hotels and restaurants, increased by 5.7%, and real estate activities rose by 4.8%.
In terms of non-oil GDP contribution, trade comprised 16.8%, manufacturing 13.5%, financial and insurance activities 13.2%, construction 11.7%, and real estate 7.8%.