The UAE economy demonstrated remarkable resilience in 2024, posting robust 4% GDP growth while cementing its transition into a diversified, knowledge-based economic model. This expansion pushed the nation’s total economic output to AED 1.78 trillion, with non-oil sectors now contributing over three-quarters of GDP—a watershed moment in the country’s strategic shift from hydrocarbon dependence.
Trade emerged as the backbone of this transformation, representing 16.8% of GDP, while manufacturing, finance, and construction each contributed double-digit shares. The non-oil economy expanded by 5% annually, reaching AED 1.34 trillion, as transport and tourism sectors led the charge. Dubai’s record 19 million international visitors and a 9.6% surge in transport activity underscored the UAE’s growing appeal as a global hub for travel and logistics.
Strategic trade agreements played a pivotal role, with non-oil foreign trade hitting AED 3 trillion—a 14.6% annual increase. Comprehensive Economic Partnership Agreements with key markets like India and Turkey fueled a 42.3% jump in exports, reinforcing the UAE’s position as a premier trade gateway. Meanwhile, construction and real estate maintained strong momentum, with major infrastructure projects and Dubai’s booming property market driving sectoral growth of 8.4% and 4.8%, respectively.
Looking forward, the UAE’s economic trajectory appears even brighter, with projections of 4.7% growth in 2025 and 5.7% in 2026. Continued expansion will be supported by progressive reforms, including visa liberalization, digital business integration, and green energy investments. These measures solidify the UAE’s standing as both a regional leader and an emerging force in the global post-oil economy.