The UAE’s Ministry of Economy confirmed that the country is among the top 5 countries to achieve positive growth rates in the real economic growth index in gross domestic product (GDP) globally.
According to His Excellency Abdullah bin Touq Al Marri, Minister of Economy, the country’s GDP grew by 3.6 percent (AED 1.68 trillion) in 2023, compared to 2022.
Meanwhile, constant prices in the non-oil GDP sector grew by 6.2 percent (AED 1.25 trillion) compared to 2022. Moreover, His Excellency Bin Touq explained that this percentage of the non-oil sector’s contribution to the state’s GDP reached 74.3 percent by the end of 2023, achieving a growth of 2.5 percent compared to 2022, making it the first in history.
Overall, the statistics rank the country among the top 10 economies in the world in a set of global competitiveness indicators related to domestic product.
The UAE government continues to implement initiatives to raise its GDP to AED 3 trillion by the next decade.
