The UAE’s gross domestic product at constant prices in 2023 achieved a growth of 3.6%, reaching 1.67 trillion dirhams, an increase of 60 billion dirhams compared to the previous year. The country’s output in the last quarter of 2023 increased by 4.3% to 402.5 billion dirhams, with the non-oil economy jumping 6.7% to 301.6 billion dirhams. The state’s GDP increased in the third quarter by 2.5% and by 3.8% in the second quarter.
Non-oil GDP saw a growth of 6.2%, contributing 74% to the total UAE economy.
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Activities that contributed most to the UAE’s non-oil economy included wholesale and retail trade, manufacturing industries, financial and insurance activities, and construction and building.
The real estate sector, public administration, defense, transportation and storage, professional and scientific activities, and information and communications also played significant roles.
Extractive industries saw a decline of 3% in 2023.
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