Latest news with #AED119.7
Dubai Eye
a day ago
- Business
- Dubai Eye
Dubai's GDP grows 4% in Q1, touching AED 119.7 billion
Dubai recorded a GDP of AED119.7 billion in the first three months of the year, marking a 4 per cent growth during the same period last year, driven by strong performances and expansion across various sectors. The growth was driven by standout performances in trade, real estate, financial services, transport and industry sectors that collectively contributed nearly 78 per cent of the total growth achieved during the year. Most notable achievement came from the human health and social work sector hitting AED 1.9 billion in its first quarter of 2025, rising by 26 per cent from the same period last year. Dubai's real estate sector contributed 7.5 per cent of the emirate's GDP with a total value of AED 9 billion, while financial and insurance achieved a growth of 5.9 percent in the first quarter of 2025, reaching AED16 billion. The accommodation and food services sector recorded 3.4 per cent growth, reaching AED4.9 billion, while information and telecommunication sector grew by 3.2 per cent, with a total value of AED5.3 billion. The wholesale and retail trade sector made 23 per cent contribution to the economy, with a value of AED27.5 billion. The manufacturing sector grew by 3.3 per cent, reaching AED8.7 billion in Q1 and the transport and storage sector grew by 2 per cent, reaching AED15.7 billion.
ARN News Center
a day ago
- Business
- ARN News Center
Dubai's GDP grows 4% in Q1, touching AED 119.7 billion
Dubai recorded a GDP of AED119.7 billion in the first three months of the year, marking a 4 per cent growth during the same period last year, driven by strong performances and expansion across various sectors. The growth was driven by standout performances in trade, real estate, financial services, transport and industry sectors that collectively contributed nearly 78 per cent of the total growth achieved during the year. Most notable achievement came from the human health and social work sector hitting AED 1.9 billion in its first quarter of 2025, rising by 26 per cent from the same period last year. Dubai's real estate sector contributed 7.5 per cent of the emirate's GDP with a total value of AED 9 billion, while financial and insurance achieved a growth of 5.9 percent in the first quarter of 2025, reaching AED16 billion. The accommodation and food services sector recorded 3.4 per cent growth, reaching AED4.9 billion, while information and telecommunication sector grew by 3.2 per cent, with a total value of AED5.3 billion. The wholesale and retail trade sector made 23 per cent contribution to the economy, with a value of AED27.5 billion. The manufacturing sector grew by 3.3 per cent, reaching AED8.7 billion in Q1 and the transport and storage sector grew by 2 per cent, reaching AED15.7 billion.
Hi Dubai
2 days ago
- Business
- Hi Dubai
Dubai's GDP Hits AED119.7 Billion in Q1 2025, Grows 4% Year-on-Year
Dubai's economy recorded a GDP of AED119.7 billion in the first quarter of 2025, achieving 4% growth compared to the same period last year, according to official data from the Dubai Data & Statistics Establishment, Digital Dubai. The expansion was driven by notable performances across several key sectors. Human Health and Social Work activities registered the highest growth at 26%, contributing AED1.9 billion and adding 0.3 percentage points to overall growth. Real Estate grew by 7.8% to reach AED9 billion, while Financial and Insurance activities expanded by 5.9% to AED16 billion. Wholesale and Retail Trade, the largest contributor to the economy, rose by 4.5% to AED27.5 billion, making up 23% of GDP and adding 1.03 percentage points to growth. Accommodation and Food Service activities saw a 3.4% rise to AED4.9 billion, and the Information and Communications sector increased by 3.2% to AED5.3 billion. Manufacturing grew 3.3% to AED8.7 billion, while Transport and Storage—heavily supported by air transport—expanded by 2% to AED15.7 billion. Other activities, accounting for 26% of GDP, grew by 1.9%. Commenting on the results, His Excellency Younus Al Nasser, CEO of the Dubai Data & Statistics Establishment, said: In an era defined by data and AI, reliable statistics are indispensable for understanding current trends and anticipating future developments. The Q1 2025 results reflect Dubai's economic progress, enabling informed decisions at all levels. His Excellency Hadi Badri, CEO of the Dubai Economic Development Corporation, noted: Dubai's sustained and diversified growth underscores its global appeal. Guided by the city's visionary leadership, we remain focused on unlocking new opportunities, enabling innovation, and turning ideas into scalable successes. The first quarter results follow a strong 2024 performance, during which Dubai's GDP rose by 5.8% at current prices to AED541 billion and by 3.2% at constant prices to AED443 billion. The Dubai Data and Statistics Establishment is now expanding its survey base and recalibrating GDP time series in line with international classifications, aiming to enhance the quality and usability of economic data. News Source: Dubai Media Office
