6.2% growth in the UAE’s non-oil output to 1.24 trillion dirhams in 2023

The UAE’s gross domestic product at constant prices in 2023 achieved a growth of 3.6%, representing an increase of 60 billion dirhams, reaching 1.67 trillion dirhams, compared to the previous year (2022), which then recorded 1.618 trillion dirhams, according to data issued by the Federal Center. For competitiveness and statistics.

The UAE’s non-oil GDP witnessed a growth of 6.2%, representing an increase of 73 billion dirhams. It rose from 1.173 trillion dirhams in 2022, to reach 1.246 trillion dirhams in 2023, contributing 74% of the total UAE economy.

The country’s output increased in the last quarter of 2023 by 4.3% to 402.5 billion dirhams, compared to 385.8 billion dirhams in the fourth quarter of 2022, and the UAE’s non-oil economy jumped 6.7% in the fourth quarter to 301.6 billion dirhams, compared to 282.6 billion dirhams in the period. Comparison for 2022.

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The state’s gross product increased in the third quarter by 2.5% to 425.6 billion dirhams, compared to 415 billion dirhams, and non-oil output increased by 5.8% to 312.5 billion dirhams, compared to 295.3 billion dirhams.

In the second quarter, the country’s economy rose by 3.8% to reach 433 billion dirhams, compared to 417 billion dirhams, and the non-oil economy increased by 7.4%, reaching 321 billion dirhams, compared to 299 billion dirhams.

In the first quarter, the UAE’s total GDP rose by 3.9% to 416 billion, compared to 400.5 billion dirhams, and non-oil output by 4.8%, touching 311 billion, compared to 296.7 billion dirhams. The UAE has achieved a major achievement in reducing the contribution of oil and gas activities to its domestic product from 27.4% in 2022, to 26% in 2023.

In terms of activities that achieved growth in the UAE’s gross product by 2023:

1. The financial and insurance sector grew the highest, at 14.3%, to 150.3 billion dirhams, compared to 131.4 billion dirhams in 2022.
2. The transportation and storage sector increased by 11.6% to 86.27 billion dirhams, compared to 77.3 billion dirhams.
3. Construction +9% to 141.6 billion dirhams, compared to 130 billion dirhams
4. Real estate activities increased by 5.8%, reaching 95 billion dirhams, compared to 89.6 billion dirhams.
5. Information and communications activities increased by 5.3% to 51 billion dirhams, compared to 48.3 billion dirhams.
6. Accommodation and food services activities increased by 5.3% to 32.2 billion dirhams, compared to 30.6 billion dirhams.
7. The education sector increased by 4.3% to 26.6 billion dirhams, compared to 25.5 billion dirhams.
8. Arts, entertainment, recreation and other service activities 4.3%, at 8.6 billion dirhams, compared to 8.2 billion dirhams.
9. Human health and social service activities increased by 4.1%, reaching 26 billion, compared to 24.9 billion dirhams.
10. Electricity, gas, water and waste management activities increased by 4% to 44.4 billion dirhams, compared to 42.6 billion dirhams.
11. The public administration, defense and compulsory social security sector increased by 3.8% to 91 billion dirhams, compared to 87.7 billion dirhams.
12. Manufacturing industries grew by 3.7% to 188.4 billion dirhams, compared to 181.6 billion dirhams.
13. Wholesale and retail trade and repair of motor vehicles and motorcycles increased by 3.7% to 211 billion dirhams, compared to 203.3 billion dirhams.
14. Agriculture, forestry and fishing activities increased by 1.5% to 13 billion dirhams, compared to 12.8 billion dirhams.
15. Household activities as employers increased by 1.5% to reach 11 billion dirhams, compared to 10.7 billion dirhams.
16. Professional, scientific and technical activities, administrative services and support increased by 1.2% to 69.9 billion dirhams, compared to 69 billion dirhams.

Meanwhile, the extractive industries, which include crude oil and natural gas, witnessed a 3% decline, bringing the value of their activities to 431 billion dirhams in 2023, compared to 444.6 billion dirhams in 2022.

• Most contributing

In terms of the activities that contribute most to the UAE’s non-oil economy, the wholesale and retail trade and vehicle repair sector came first with a share of 12.5%, with a value of 211 billion dirhams, second: manufacturing industries, 11%, with a value of 188.4 billion dirhams, and financial and insurance activities, 9%, with a value of 150.3 billion dirhams, then construction and building. 8.4%, with a value of 141.6 billion dirhams.

The real estate sector came fifth, with a share of 5.6%, touching 95 billion dirhams, and public administration, defense, and compulsory social security, 5.4%, with a value of 91 billion dirhams, then transportation and storage, with 5%, representing 86.3 billion dirhams, then professional, scientific and technical activities, administrative services, and support, touching 70 billion dirhams, then information. And communications 3% to reach 51 billion dirhams, then electricity, gas, water and waste management activities 2% with a value of 44.4 billion dirhams, accommodation and food services activities 2% with 32.2 billion dirhams, then education services 1.6% with a value of 26.6 billion dirhams, then human health and social service activities. Touching 26 billion dirhams, agriculture, forestry and fishing 0.7%, amounting to 13 billion dirhams, household activities as employers 0.6%, reaching 11 billion dirhams, and arts, entertainment, recreation and other services activities 0.5%, amounting to 8.6 billion dirhams.

While extractive industries, including crude oil and natural gas, contributed 26% of the UAE’s total economy in 2023, with a value of 431 billion dirhams.