{"id":99337,"date":"2025-01-06T00:00:00","date_gmt":"2025-01-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/abu-dhabis-economy-grew-4-5-in-3q-2024\/"},"modified":"2025-01-06T00:00:00","modified_gmt":"2025-01-06T00:00:00","slug":"abu-dhabis-economy-grew-4-5-in-3q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/06\/abu-dhabis-economy-grew-4-5-in-3q-2024\/","title":{"rendered":"Abu Dhabi\u2019s economy grew 4.5% in 3Q 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi\u2019s economy expanded by 4.5% y-o-y in 3Q 2024<\/strong> to an all-time quarterly high of AED 301.8 bn, according to an Abu Dhabi media office statement citing Statistics Centre \u2013 Abu Dhabi <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/government-affairs\/statistics-centre-abu-dhabi-reports-4-and-half-percent-growth-in-emirates-gdp-in-q3-2024\/\" style=\"\" rel=\"noopener\">(<\/a><a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/government-affairs\/statistics-centre-abu-dhabi-reports-4-and-half-percent-growth-in-emirates-gdp-in-q3-2024\/\" style=\"\" rel=\"noopener\">SCAD<\/a><a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/government-affairs\/statistics-centre-abu-dhabi-reports-4-and-half-percent-growth-in-emirates-gdp-in-q3-2024\/\" style=\"\" rel=\"noopener\">)<\/a> figures. The non-oil economy grew 6.6%, contributing 54% to GDP during the quarter, according to preliminary estimates by SCAD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sector highlights: <\/strong><\/p>\n<ul>\n<li><strong>Manufacturing <\/strong>grew 2% to AED 29.4 bn, contributing 9.7% to the emirate\u2019s GDP, remaining the largest non-oil activity for the seventh consecutive quarter.<\/li>\n<li><strong>Construction <\/strong>rose 10% to AED 26.7 bn, supported by investments in urban infrastructure and job creation, accounting for 8.8% of GDP. <\/li>\n<\/ul>\n<ul>\n<li><strong>Financial and ins. services<\/strong> grew 11.6% to AED 19.5 bn, reflecting increased loans and deposits in major banks, contributing 6.4% to Abu Dhabi\u2019s GDP. <\/li>\n<\/ul>\n<ul>\n<li><strong>Real estate <\/strong>grew 6.1% to AED 10.7 bn, driven by increased investments in urban infrastructure projects, contributing 3.5% to Abu Dhabi\u2019s GDP. <\/li>\n<\/ul>\n<ul>\n<li><strong>Transport and storage <\/strong>increased 18% to AED 7.1 bn, driven by higher cargo volumes, container handling, and port revenues.<\/li>\n<\/ul>\n<ul>\n<li><strong>Electricity, gas, and water <\/strong>expanded 5% to AED 5.5 bn, reflecting sustainability efforts, accounting for 1.8% of Abu Dhabi\u2019s GDP.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 9M 2024:<\/strong> GDP rose by 3.9% during the first nine months of 2024, with the non-oil economy growing 5.9%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Al Zaabi attributed the results to the emirate\u2019s proactive policies, significant capital investments, and focus on public-private partnerships. SCAD Director General Abdulla Gharib Alqemzi emphasized the role of data-driven decisions and foreign investments, which reached AED 904.5 bn in 2023, in bolstering economic development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Dhabi\u2019s economic growth was driven by non-oil diversification and robust growth across key sectors.<\/p>\n","protected":false},"author":1,"featured_media":99338,"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":[1360,19,1444,7,2211,1397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-abu-dhabi","tag-economy","tag-emirates","tag-enterpriseam-uae","tag-scad","tag-uae","wpautop","entry"],"acf":{"mongo_id":"cdab857b-671a-4b28-9f69-2197ea644496","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2386.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi\u2019s economy grew 4.5% in 3Q 2024","related_issue":[99330],"teaser":"Abu Dhabi\u2019s economic growth was driven by non-oil diversification and robust growth across key sectors.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.12b36254-a699-43d1-a8b7-05cb9fd9ab4a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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