{"id":93924,"date":"2024-07-17T00:00:00","date_gmt":"2024-07-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/abu-dhabis-gdp-grew-3-3-in-1q-2024\/"},"modified":"2024-07-17T00:00:00","modified_gmt":"2024-07-17T00:00:00","slug":"abu-dhabis-gdp-grew-3-3-in-1q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/17\/abu-dhabis-gdp-grew-3-3-in-1q-2024\/","title":{"rendered":"Abu Dhabi's GDP grew 3.3% in 1Q 2024"},"content":{"rendered":"

Abu Dhabi\u2019s economy grew at a 3.3% y-o-y clip in 1Q 2024<\/strong>, with the non-oil economy growing 4.7% y-o-y, according to preliminary data<\/a> from the Statistics Centre of Abu Dhabi. The emirate\u2019s GDP stood at AED 286 bn during the quarter, with non-oil GDP reaching AED 154.7 bn. <\/p>\n

Non-oil activities were the stars of the show:<\/strong> Non-oil activities collectively accounted for over 54.1% of overall GDP \u2014 the highest contribution since 2015 \u2014 driven by improved performance in transportation, construction, financial activities, and accommodation and food activities.<\/span><\/p>\n

REMEMBER-<\/strong> Abu Dhabi\u2019s non-oil economy grew<\/a> 9.1% y-o-y last year, with real GDP growing 3.1%. <\/p>\n

Construction took the lead: <\/strong>Construction accounted for 8.8% of the emirate\u2019s GDP \u2014 the highest in five years and equivalent to over AED 25 bn. Construction activities grew 9.5% y-o-y.<\/p>\n

Manufacturing, finance and ins.: <\/strong>Manufacturing activities were valued at AED 24.8 bn, contributing 8.7% of GDP, while financial and ins. activities grew 9.7% y-o-y, contributing 7% to the emirate's GDP. <\/p>\n

Several other sectors also turned in growth: <\/strong>Transportation and storage grew 14.4% y-o-y, while the telecommunications sector expanded by 5.9% y-o-y. Accommodation and food registered 6.2% y-o-y growth.<\/p>\n","protected":false},"excerpt":{"rendered":"

Construction was the largest contributor to non-oil GDP growth<\/p>\n","protected":false},"author":1,"featured_media":93925,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1556],"tags":[1360,19,7,20],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-abu-dhabi","tag-economy","tag-enterpriseam-uae","tag-gdp","wpautop","entry"],"acf":{"mongo_id":"c59750aa-9313-44ee-86e6-e9132088ae03","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1329.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi's GDP grew 3.3% in 1Q 2024, driven by 4.7% growth in the non-oil economy","related_issue":[93919],"teaser":"Construction was the largest contributor to non-oil GDP growth","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.a7472817-9bba-4c08-b9cb-e246511108bf.mp3"},"yoast_head":"\nAbu Dhabi's GDP grew 3.3% in 1Q 2024 - 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