Dubai GDP expands by 3.1% in first nine months of 2024
DUBAI, February 7, 2025
Dubai’s economy continued its strong upward growth trajectory, with Gross Domestic Product (GDP) in the first nine months of 2024 rising 3.1% from the same period in 2023 to reach AED339.4 billion ($92.3 billion). The surge highlights significant strides across key sectors.
The wholesale and retail trade sector, the largest in terms of value, reached AED83.12 billion in the first three quarters of 2024, recording a growth of 2.9 percent.
The transportation and storage sector saw an impressive growth of 5.3 percent to reach AED42.135 billion, while the financial and insurance activities sector grew by 4.5 percent to reach AED39.439 billion.
Among other key sectors, Information and Communications grew by 4.1 percent, while accommodation and food services sector registered a growth of 3.7 and the manufacturing sector grew by 2.3 percent.
Helal Saeed Almarri, the Director-General of the Dubai Department of Economy and Tourism (DET), said: "Dubai’s exceptional economic performance in the first nine months of 2024 reflects the city’s resilience and commitment to innovation-driven growth, and the strategic execution of the city’s bold vision embodied by the Dubai Economic Agenda D33."
"It has achieved significant advancements across a wide breadth of sectors, including bellwether industries such as logistics, technology, and tourism. Logistics has solidified Dubai’s role as a global trade hub, while technology is driving unparalleled innovation, and tourism continues to set global benchmarks, collectively fuelling our growth," he stated.
Hamad Obaid Al Mansoori, Director-General of Digital Dubai, pointed out that the economic performance in the first nine months of 2024 represents a vital stage in Dubai's growth and development.
This progress has been shaped by the leadership’s strategic vision and consistent follow-up across all economic sectors, making Dubai one of the world’s most distinctive commercial hubs, he added.
