Abu Dhabi’s GDP Grows 3.8% in 2024, Hits Record Dhs1.2 Trillion Driven by Non-Oil Sector

This economic expansion was primarily driven by the non-oil sector, which registered a 6.2 per cent increase in added value, totaling Dhs644.3 billion. The sector now accounts for 54.7 per cent of Abu Dhabi’s total GDP—the highest contribution on record and a significant milestone in the emirate’s diversification journey.

Non-Oil Sector Powers Growth

Key non-oil industries—including manufacturing, construction, finance, insurance, and information & communication—were among the leading contributors to economic growth.

• Manufacturing accounted for 9.5% of GDP, reaching Dhs111.6 billion.

• Construction saw 11.3% growth, contributing Dhs107.4 billion.

• Financial and insurance activities grew by 10.7%, with a total value of Dhs77.8 billion.

• The information and communication sector reached Dhs32.2 billion, a 6.6% increase year-on-year.

• The wholesale and retail trade sector added Dhs62.7 billion, equal to 5.3% of GDP.

The transportation and storage sector recorded the highest growth rate across all industries, jumping 16.9% to Dhs27.8 billion, largely due to increased infrastructure spending and trade activity.

The real estate sector also grew by 4.2%, while education and healthcare achieved their highest-ever contributions at Dhs20.4 billion and Dhs7 billion respectively.

Policy-Driven Performance

Officials credit the emirate’s steady performance to bold policymaking and resilience amid global uncertainties.

“The consistent, remarkable performance of the Falcon Economy is a testament to Abu Dhabi’s forward-thinking economic strategies, progressive policies, and proactive response,” said Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED).

“With a record-breaking Dhs1.2 trillion GDP and 6.2 per cent growth in non-oil sectors, this reinforces Abu Dhabi’s status as a rising economic powerhouse.”

Quarterly Growth Strong

The emirate's economic momentum continued in the fourth quarter of 2024, with GDP rising by 4.4 per cent, and the non-oil sector growing by 6.6 per cent. The sector’s contribution remained steady at 54.7 per cent, maintaining its historic share in total GDP.

“This milestone reflects our commitment to fostering an investment-friendly environment and empowering high-growth sectors,” said Abdulla Gharib Alqemzi, Director-General of SCAD.

Outlook for 2025

With continued investments in infrastructure, economic liberalization, and innovation-focused reforms, Abu Dhabi’s economy is expected to maintain its positive trajectory in 2025. Analysts anticipate further growth in construction, real estate, finance, and transport as the emirate solidifies its regional and global economic standing.