Abu Dhabi's manufacturing sector contributed 53% to UAE's industrial economy in 2024
Abu Dhabi's manufacturing sector contributed 53 per cent to the country's industrial economy, which rose by 6.6 per cent to Dh210 billion ($57.2 billion), last year as the emirate seeks to double down on economic diversification, senior government officials said during the Abu Dhabi Investment Forum in Tokyo on Friday.
The sector accounted for 51.3 per cent of the UAE's industrial sector in 2023 and 46 per cent in 2022.
The UAE capital city's manufacturing industry was also the largest non-oil contributor to the emirate's gross domestic product last year, accounting for 9.5 per cent of total GDP and 17.3 per cent of non-oil GDP, said Rashed Al Blooshi, undersecretary of the Abu Dhabi Department of Economic Development.
The Abu Dhabi Industrial Strategy (ADIS) was launched in 2022 to boost the contribution of the sector to the overall economy. It aims to double the size of the manufacturing sector to Dh172 billion, create 13,600 skilled jobs, and increase the emirate's non-oil exports to Dh178.8 billion by 2031.
Under the strategy, the government is investing Dh10 billion across six industrial programmes to achieve these goals. This will be done by increasing access to financing, further improving the ease of doing business and attracting foreign direct investment.
'A key component of our Falcon Economy, ADIS is strengthening Abu Dhabi's position as the region's most competitive industrial hub. It is guiding the manufacturing sector's transition to Industry 4.0,' Mr Al Blooshi said.
In 2021, the UAE unveiled its 'Operation 300bn' industrial strategy to position it as a global industrial centre by 2031. The 10-year road map focuses on increasing the industrial sector's contribution to the country's GDP to Dh300 billion by 2031, from Dh133 billion in 2021.
Abu Dhabi's industrial GDP grew 23 per cent to Dh111.6 billion last year from Dh90.8 billion in 2022, the Abu Dhabi Investment Forum was told.
Participating in a panel discussion with Rashed Al Mansoori, director general of Abu Dhabi Customs, and Fatima Al Hammadi, chief commercial officer of Kezad Group, Mr Al Blooshi highlighted Abu Dhabi initiatives to accelerate the emirate's transition towards a diversified and sustainable economy.
The discussion presented how Abu Dhabi is enabling investors, businesses and start-ups to expand globally.
The event in Tokyo brought together top chief executives, business leaders and investors to explore strategic partnerships and investment opportunities with Abu Dhabi.
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