{"id":99335,"date":"2025-01-06T00:00:00","date_gmt":"2025-01-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uaes-gdp-surpassed-aed-1-7-tn-in-2024\/"},"modified":"2025-01-06T00:00:00","modified_gmt":"2025-01-06T00:00:00","slug":"uaes-gdp-surpassed-aed-1-7-tn-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/06\/uaes-gdp-surpassed-aed-1-7-tn-in-2024\/","title":{"rendered":"UAE\u2019s GDP surpassed AED 1.7 tn in 2024"},"content":{"rendered":"

The UAE\u2019s GDP is projected to have surpassed AED 1.7 tn in 2024<\/strong>, marking a record high, according to a recap of the first cabinet meeting of 2025 posted on X<\/a>. The industrial sector is estimated to have contributed over AED 210 bn to GDP, with industrial exports surpassing AED 190 bn. <\/p>\n

Foreign trade is also expected to have exceeded AED 2.8 tn in 2024<\/strong>, with non-oil exports set to top AED 540 bn, imports over AED 1.6 tn, and re-exports crossing AED 700 bn, Wam<\/a> reports. This is down from AED 3.5 tn<\/a> in 2023, though non-oil exports would be up from AED 441 bn last year. <\/p>\n

REMEMBER- The UAE signed 12 new comprehensive economic partnership agreements (CEPAs) in 2024<\/strong>, bringing the total to 24, with 15 finalized and nine in progress. <\/p>\n

Foreign direct investments are expected to have risen by 17.1% y-o-y to reach AED 130 bn in 2024<\/strong>. The UAE attracted<\/a> around USD 30.7 bn (AED 112.6 bn) of FDI inflows for greenfield projects in 2023, representing 45.4% of total foreign direct investment inflows in the region. It also led with USD 225 bn (AED 826.3 bn) in cumulative FDI balances, comprising 21% of total incoming balances across the region. The country ranked first globally<\/a> in attracting FDI relative to its GDP in 2023.<\/p>\n

Healthcare also had a good year:<\/strong> Medicine sales are expected to reach AED 20.5 bn in 2024, with projections of AED 26.4 bn in sales by 2028. Medical product factories have increased by 90% over the past six years, producing nearly 1.9k items in 2023.<\/p>\n

And tourism flourished:<\/strong> UAE airports welcomed 150 mn passengers in 2024, while hotels hosted 30 mn hotel guests, resulting in over 105 mn overnight stays, matching previous <\/a>predictions<\/a>.<\/p>\n

Emiratization is on the rise in the private sector:<\/strong> Emirati participation in the private sector grew by 350% in 2024, with 131k citizens entering the workforce, driven by the Nafis<\/a>program<\/a>. Meanwhile, Emiratis alone established some 25k new small- and medium-sized enterprises (SMEs). <\/p>\n","protected":false},"excerpt":{"rendered":"

The country\u2019s foreign trade is projected to exceed AED 2.8 tn during this period<\/p>\n","protected":false},"author":1,"featured_media":99336,"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":[19,1408,7,408,20,131,1394,320,387,1334],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-emiratisation","tag-enterpriseam-uae","tag-fdi","tag-gdp","tag-healthcare","tag-housing","tag-smes","tag-tourism","tag-trade","wpautop","entry"],"acf":{"mongo_id":"84b15e3a-f51b-4677-b117-d42bd5357c14","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/122.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s GDP surpassed AED 1.7 tn in 2024","related_issue":[99330],"teaser":"The country\u2019s foreign trade is projected to exceed AED 2.8 tn during this period","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.baa9f021-01e1-48c3-94f3-eaa06360d685.mp3"},"yoast_head":"\nUAE\u2019s GDP surpassed AED 1.7 tn in 2024 - 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