Latest news with #AED4.9
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.
Dubai Eye
22-07-2025
- Business
- Dubai Eye
UAE telecom trade grows to AED10.2 billion in 2024
The UAE's trade in telecommunication services rose by 4.3 percent in 2024, reaching AED10.2 billion, up from AED9.8 billion in 2023, according to data released by the Federal Competitiveness and Statistics Centre (FCSC). The growth was driven largely by a strong fourth-quarter performance, which saw a 12.95 percent year-on-year increase, with telecom trade reaching AED2.70 billion for the quarter - the highest among the four quarters. Telecom service exports increased by 6.49 percent to AED4.9 billion in 2024, while imports rose by 2.38 percent to AED5.3 billion. Quarterly trade distribution showed the fourth quarter accounted for 26.45 percent of the annual total, followed by Q3 at 25.34 percent (AED2.59 billion), Q2 at 25.05 percent (AED2.56 billion) and Q1 at 23.17 percent (AED2.37 billion). This performance highlights the telecom sector's vital role in supporting the UAE's digital economy, the growth of e-commerce and the ongoing development of technological infrastructure. FCSC, affiliated with the Ministry of Cabinet Affairs, is tasked with enhancing the UAE's global competitiveness, statistical systems and data-driven development in line with the UAE Centennial Plan 2071.
ARN News Center
22-07-2025
- Business
- ARN News Center
UAE telecom trade grows to AED10.2 billion in 2024
The UAE's trade in telecommunication services rose by 4.3 percent in 2024, reaching AED10.2 billion, up from AED9.8 billion in 2023, according to data released by the Federal Competitiveness and Statistics Centre (FCSC). The growth was driven largely by a strong fourth-quarter performance, which saw a 12.95 percent year-on-year increase, with telecom trade reaching AED2.70 billion for the quarter - the highest among the four quarters. Telecom service exports increased by 6.49 percent to AED4.9 billion in 2024, while imports rose by 2.38 percent to AED5.3 billion. Quarterly trade distribution showed the fourth quarter accounted for 26.45 percent of the annual total, followed by Q3 at 25.34 percent (AED2.59 billion), Q2 at 25.05 percent (AED2.56 billion) and Q1 at 23.17 percent (AED2.37 billion). This performance highlights the telecom sector's vital role in supporting the UAE's digital economy, the growth of e-commerce and the ongoing development of technological infrastructure. FCSC, affiliated with the Ministry of Cabinet Affairs, is tasked with enhancing the UAE's global competitiveness, statistical systems and data-driven development in line with the UAE Centennial Plan 2071.
