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Statistics Centre – Abu Dhabi reports 3.4% growth in emirate's GDP in Q1 2025
Statistics Centre – Abu Dhabi reports 3.4% growth in emirate's GDP in Q1 2025

Al Etihad

time03-07-2025

  • Business
  • Al Etihad

Statistics Centre – Abu Dhabi reports 3.4% growth in emirate's GDP in Q1 2025

3 July 2025 15:24 ABU DHABI (ALETIHAD)The Statistics Centre - Abu Dhabi (SCAD) has reported that the emirate's Gross Domestic Product (GDP) reached Dh291 billion in the first quarter of 2025, recording a 3.4 per cent increase compared to the same period in 2024. This performance is driven by the strength of the non-oil economy, which expanded by 6.1 per cent year-on-year, reaching Dh163.6 billion. For the first time in Q1 period, the non-oil sector contributed 56.2 per cent of the total GDP, while the oil sector accounted for the remaining 43.8 per cent, equivalent to Dh127.4 billion. The results highlighted the effectiveness of Abu Dhabi's ongoing efforts to diversify its economic achievements underscore the emirate's success in building a broad-based and resilient economy. With momentum driven by manufacturing, construction, financial services, real estate and trade, the Q1 results reflect strong fundamentals and well-coordinated economic Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: 'Day after day, Abu Dhabi's economy is reaffirming the success of the emirate's long-term strategy and the effectiveness of timely policies and measures to address changes and challenges in regional and global landscape. Our Falcon Economy orchestrates multi-dimensional strategies across different sectors, enabling us to build synergies and work in tandem to achieve Abu Dhabi and the UAE's strategic objectives.'The continued strong performance of non-oil sectors, accounting for 56.2 per cent of the total GDP in Q1-2025, is a testament to this vision. The manufacturing sector's steady growth reflects Abu Dhabi's Industrial Strategy's (ADIS) success in turbocharging the sector and enhancing the emirate's status as a magnet for highly skilled talent, businesses, and quality investments. We remain committed to future-proof our economy, building world-class hubs for financial services, advanced manufacturing, AI, trade and logistics, and new energy.'Abdulla Gharib Alqemzi, Director General of the Statistics Centre - Abu Dhabi, said: 'The first quarter of 2025 reaffirms the strength, adaptability, and maturity of Abu Dhabi's economic model. Our transition toward a diversified, knowledge-based economy continues to gain momentum, with high-growth sectors like manufacturing, construction, and financial services driving sustainable expansion.'This economic resilience is particularly vital as Abu Dhabi's population continues to grow, reaching 4.14 million residents in 2024. Sustained economic growth is not only a sign of vitality, it's essential for supporting public services, investments, and the well-being of our expanding community. SCAD remains committed to providing trusted, timely data that informs decision-making and supports inclusive, long-term development.'The manufacturing sector continued to lead the non-oil economy with a total value added of Dh28.5 billion in Q1 2025. It grew by 5 per cent compared to the same period last year and contributed 9.8 per cent to the emirate's total Q1 2025, the sector maintained its upward momentum, with the number of new industrial licences increasing by 4.7 per cent year-on-year, and the number of factories that progressed from under construction to production stage surged by 65 per cent, underscoring the industrial sector's continued vitality and operational activity experienced an expansion of 10.2 per cent in Q1 2025, reaching a total value of Dh27.5 billion and contributed 9.4 per cent in the GDP of the emirate. The performance is linked to continued investment in infrastructure, housing, and urban development. Recent initiatives such as the launch of the Binaa digital building permit platform, powered by artificial intelligence, are expected to further enhance project delivery and regulatory efficiency across the construction finance and insurance sector demonstrated robust growth, increasing by 9.1 per cent compared to Q1 2024 and generated Dh19.6 billion in value. This sector contributed 6.7 per cent to the total GDP, benefiting from Abu Dhabi's growing reputation as a regional and international financial the first quarter of 2025, ADGM saw a 43 per cent rise in registered financial institutions and a 33 per cent increase in assets under management compared to the same period last year. Regulatory updates and expanded investment programmes have helped attract global financial firms to establish operations in the emirate. During the same period, the Abu Dhabi Securities Exchange (ADX), the second largest exchange in the MENA region, posted a strong performance. Its market capitalisation rose 3.2 per cent to exceed Dh2.93 trillion, and foreign net investment skyrocketed by 151 per cent to over Dh8.5 billion, showing the growing confidence of international investors in Abu Dhabi's wholesale and retail trade sector grew by 3.6 per cent in Q1 2025, with a total value of Dh16 billion and a 5.5 per cent contribution to GDP. This reflects continued consumer confidence, supported by steady population growth and tourism recovery. The sector is also benefiting from Abu Dhabi's expanding global trade relations aimed at unlocking access to broader markets and reinforcing trade scientific and technical services, including administrative support activities, stood at 10.3 per cent, supported by rising demand for business services and knowledge-based professions. The Arts and Entertainment services grew by 8.4 per cent, reinforcing the role of cultural attractions and tourism in economic growth and transportation and storage sector expanded by 7.5 per cent, reflecting Abu Dhabi's strategic logistics role and growing connectivity. Real estate activities increased by 6.7 per cent, with ongoing investment in residential and commercial development projects. The health sector grew by 5.2 per cent, aligning with broader public service enhancements and efforts to improve quality of Abu Dhabi's population reached 4.14 million residents in 2024, up from 3.8 million in 2023, its non-oil GDP continues to support the emirate's expanding population through sustained economic growth. This demographic trend reflects economic vitality and the government's long-term vision for sustainable development. Alongside this demographic momentum, Abu Dhabi's Dh13 billion Digital Strategy (2025–2027) is driving the emirate toward becoming the world's first fully AI-native government by 2027. By automating all government processes, the strategy aims to boost efficiency, enhance service delivery, and stimulate innovation-driven economic growth, reinforcing Abu Dhabi's position as a global leader in data-driven, sustainable development.

Abu Dhabi hotels record Dhs611m in revenue in March
Abu Dhabi hotels record Dhs611m in revenue in March

Gulf Today

time12-06-2025

  • Business
  • Gulf Today

Abu Dhabi hotels record Dhs611m in revenue in March

Abu Dhabi's hospitality sector continues to show robust growth, with hotel establishments across the emirate generating revenues of Dhs611 million in March 2025, according to preliminary data released by the Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi), in coordination with the Statistics Centre - Abu Dhabi (SCAD). The total revenue breakdown comprises Dhs345 million from room bookings, Dhs228 million from food and beverage services, and Dhs38 million from other sources. The emirate welcomed approximately 417,000 hotel guests during March, highlighting Abu Dhabi's growing appeal as a global tourist destination. The surge is attributed to the emirate's diverse accommodation offerings and high-quality hospitality services. A total of 171 hotel establishments, comprising 34,341 rooms, operated across Abu Dhabi in March. These properties recorded over 1.2 million guest nights, achieving an average occupancy rate of 69 per cent. The average revenue per available room (RevPAR) stood at AED486. Non-Arab Asian nationals topped the list of international visitors, accounting for 152,000 hotel guests. European travellers followed with 123,000 guests, while UAE nationals accounted for 58,000 stays. These figures underline Abu Dhabi's sustained tourism growth and its strengthening position as a preferred destination for a wide range of global markets. Five-star hotels hosted the highest number of guests, totalling 205,000 in March. European visitors made up the largest segment within this category, with 78,000 guests. Four-star hotels received 119,000 guests, followed by three-star and below hotels with 54,000 guests. Additionally, serviced apartments accommodated 38,000 visitors. The strong performance aligns with Abu Dhabi's Tourism Strategy 2030, which aims to attract 39.3 million visitors annually, generate 178,000 new jobs in the tourism sector, expand hotel capacity to 50,000 rooms, and increase the sector's contribution to the emirate's GDP to Dhs90 billion by the end of the decade.

Abu Dhabi GDP shows significant annual economic growth in 2024
Abu Dhabi GDP shows significant annual economic growth in 2024

Gulf Today

time28-03-2025

  • Business
  • Gulf Today

Abu Dhabi GDP shows significant annual economic growth in 2024

The Statistics Centre - Abu Dhabi (SCAD) has released preliminary statistical estimates for Abu Dhabi's Gross Domestic Product (GDP) for 2024, showing significant annual economic growth driven by the thriving non-oil sector. The 2024 GDP data highlights Abu Dhabi's sustained economic momentum, with total GDP and non-oil GDP reaching record values for the third consecutive year. The emirate's real GDP expanded by 3.8 per cent in 2024 compared to 2023, reaching an all-time high value of Dhs1.2 trillion, driven by the non-oil economy which recorded a strong growth rate of 6.2 per cent, marking its highest-ever annual contribution of 54.7 per cent to total GDP. This underscores Abu Dhabi's continued success in implementing economic diversification strategies and fostering sustainable, long-term growth. The non-oil sector remained the primary driver of economic momentum, with total non-oil GDP added value reachingDhs644.3 billion, setting a record for the third consecutive year. Key sectors including manufacturing, construction, finance and insurance, information and communication, wholesale and retail trade, education, and health, achieved their highest-ever values, reflecting the emirate's commitment to industrial development, infrastructure investment, and human capital enhancement. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said, 'The consistent, remarkable performance of the Falcon Economy in the past years is a testament to Abu Dhabi's forward-thinking economic strategies, progressive policies, and proactive responses to an evolving global landscape.' He added that with a record-breakingDhs1.2 trillion GDP and a 6.2 per cent growth of non-oil sectors- accounting for 54.7 per cent of total GDP in 2024, this steady growth further enhances Abu Dhabi's status as a rising economic powerhouse and a premier destination for global talent, high-value investments, and world-class enterprises. 'Guided by our visionary leadership, we are future proofing Abu Dhabi's economy through pioneering initiatives that drive industrial transformation, stimulate sustainable growth, and reshape tomorrow's economy. The Economic Diversification 2.0 strategies are accelerating the transition towards a smart, diversified, and sustainable economy. We remain committed to unlocking new opportunities, empowering human capital, and forging strategic partnerships that will shape the economy of the future,' Al Zaabi stated. Abdulla Gharib Alqemzi, Director-General of SCAD, said, 'The annual GDP statistical estimates confirm Abu Dhabi's steady progress in economic transformation, with non-oil activities reaching a record 54.7 per cent contribution to GDP. This milestone reflects the emirate's commitment to fostering an investment-friendly environment, empowering entrepreneurs, and enhancing business opportunities across various high-growth sectors.' The strong performance of Abu Dhabi's economy in 2024 underscores the success of economic policies that facilitate business expansion and global trade, which resulted in around a 300 per cent increase in foreign investments in Abu Dhabi over a decade. The manufacturing sector remained one of the largest non-oil contributors to GDP, maintaining a stable 9.5 per cent share, with its added value reachingDhs111.6 billion-the highest on record. This sector achieved an annual growth rate of 2.7 per cent in 2024 compared to 2023, reflecting the success of the Abu Dhabi Industrial Strategy's (ADIS) programmes in driving industrial growth to strengthen the emirate's position as the region's most competitive industrial hub. The construction sector followed closely, contributing 9.1 per cent to total GDP, with an impressive growth rate of 11.3 per cent and a record high ofDhs107.4 billion. The financial and insurance sector also experienced significant expansion, growing 10.7 per cent year-on-year to reachDhs77.8 billion, contributing 6.6 per cent to the total GDP in 2024, further cementing Abu Dhabi's position as a leading financial hub. The information and communication sector grew by 6.6 per cent year-on-year, achieving a record value ofDhs32.2 billion and contributing 2.2 per cent to Abu Dhabi's total GDP in 2024. The wholesale and retail trade sector also saw its highest-ever value atDhs62.7 billion, contributing 5.3 per cent to the emirate's GDP, reinforcing its vital role with a growth rate of 2.2 per cent in 2024. The transportation and storage sector achieved the highest growth rate among all industries in 2024 at 16.9 per cent, driven by infrastructure investments, logistics advancements, and increased trade activity. The sector's contribution to Abu Dhabi's economy stands at 2.4 per cent with a total value ofDhs27.8 billion. The real estate sector grew by 4.2 per cent in 2024, reflecting steady demand and investment in property development. Its contribution to the total GDP reached 3.5 per cent in 2024 with a total value exceedingDhs41.7 billion. Key service sectors also experienced notable expansion, with education and health reaching their highest-ever values atDhs20.4 billion andDhs17 billion, respectively, through growth rates of 2.5 per cent and 4.1 per cent in 2024, underlining Abu Dhabi's commitment to human capital development and social wellbeing. WAM

Abu Dhabi's GDP grows by 3.8% in 2024
Abu Dhabi's GDP grows by 3.8% in 2024

Zawya

time28-03-2025

  • Business
  • Zawya

Abu Dhabi's GDP grows by 3.8% in 2024

ABU DHABI - The Statistics Centre - Abu Dhabi (SCAD) has released preliminary statistical estimates for Abu Dhabi's Gross Domestic Product (GDP) for 2024, showing significant annual economic growth driven by the thriving non-oil sector. The 2024 GDP data highlights Abu Dhabi's sustained economic momentum, with total GDP and non-oil GDP reaching record values for the third consecutive year. The emirate's real GDP expanded by 3.8 percent in 2024 compared to 2023, reaching an all-time high value of AED1.2 trillion, driven by the non-oil economy which recorded a strong growth rate of 6.2 percent, marking its highest-ever annual contribution of 54.7 percent to total GDP. This underscores Abu Dhabi's continued success in implementing economic diversification strategies and fostering sustainable, long-term growth. The non-oil sector remained the primary driver of economic momentum, with total non-oil GDP added value reaching AED644.3 billion, setting a record for the third consecutive year. Key sectors including manufacturing, construction, finance and insurance, information and communication, wholesale and retail trade, education, and health, achieved their highest-ever values, reflecting the emirate's commitment to industrial development, infrastructure investment, and human capital enhancement. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said, "The consistent, remarkable performance of the Falcon Economy in the past years is a testament to Abu Dhabi's forward-thinking economic strategies, progressive policies, and proactive responses to an evolving global landscape." He added that with a record-breaking AED1.2 trillion GDP and a 6.2 percent growth of non-oil sectors- accounting for 54.7 percent of total GDP in 2024, this steady growth further enhances Abu Dhabi's status as a rising economic powerhouse and a premier destination for global talent, high-value investments, and world-class enterprises. "Guided by our visionary leadership, we are future proofing Abu Dhabi's economy through pioneering initiatives that drive industrial transformation, stimulate sustainable growth, and reshape tomorrow's economy. The Economic Diversification 2.0 strategies are accelerating the transition towards a smart, diversified, and sustainable economy. We remain committed to unlocking new opportunities, empowering human capital, and forging strategic partnerships that will shape the economy of the future," Al Zaabi stated. Abdulla Gharib Alqemzi, Director-General of SCAD, said, "The annual GDP statistical estimates confirm Abu Dhabi's steady progress in economic transformation, with non-oil activities reaching a record 54.7 percent contribution to GDP. This milestone reflects the emirate's commitment to fostering an investment-friendly environment, empowering entrepreneurs, and enhancing business opportunities across various high-growth sectors." The strong performance of Abu Dhabi's economy in 2024 underscores the success of economic policies that facilitate business expansion and global trade, which resulted in around a 300 percent increase in foreign investments in Abu Dhabi over a decade. The manufacturing sector remained one of the largest non-oil contributors to GDP, maintaining a stable 9.5 percent share, with its added value reaching AED111.6 billion—the highest on record. This sector achieved an annual growth rate of 2.7 percent in 2024 compared to 2023, reflecting the success of the Abu Dhabi Industrial Strategy's (ADIS) programmes in driving industrial growth to strengthen the emirate's position as the region's most competitive industrial hub. The construction sector followed closely, contributing 9.1 percent to total GDP, with an impressive growth rate of 11.3 percent and a record high of AED107.4 billion. The financial and insurance sector also experienced significant expansion, growing 10.7 percent year-on-year to reach AED77.8 billion, contributing 6.6 percent to the total GDP in 2024, further cementing Abu Dhabi's position as a leading financial hub. The information and communication sector grew by 6.6 percent year-on-year, achieving a record value of AED32.2 billion and contributing 2.2 percent to Abu Dhabi's total GDP in 2024. The wholesale and retail trade sector also saw its highest-ever value at AED62.7 billion, contributing 5.3 percent to the emirate's GDP, reinforcing its vital role with a growth rate of 2.2 percent in 2024. The transportation and storage sector achieved the highest growth rate among all industries in 2024 at 16.9 percent, driven by infrastructure investments, logistics advancements, and increased trade activity. The sector's contribution to Abu Dhabi's economy stands at 2.4 percent with a total value of AED27.8 billion. The real estate sector grew by 4.2 percent in 2024, reflecting steady demand and investment in property development. Its contribution to the total GDP reached 3.5 percent in 2024 with a total value exceeding AED41.7 billion. Key service sectors also experienced notable expansion, with education and health reaching their highest-ever values at AED20.4 billion and AED17 billion, respectively, through growth rates of 2.5 percent and 4.1 percent in 2024, underlining Abu Dhabi's commitment to human capital development and social wellbeing. In the fourth quarter of 2024, Abu Dhabi's GDP grew by 4.4 percent, while non-oil GDP expanded by 6.6 percent, maintaining its record-high contribution of 54.7 percent to total GDP.

Statistics Centre – Abu Dhabi reports 3.8% growth in emirate's GDP in 2024
Statistics Centre – Abu Dhabi reports 3.8% growth in emirate's GDP in 2024

Al Etihad

time28-03-2025

  • Business
  • Al Etihad

Statistics Centre – Abu Dhabi reports 3.8% growth in emirate's GDP in 2024

28 Mar 2025 10:16 ABU DHABI (ALETIHAD)The Statistics Centre - Abu Dhabi (SCAD) has released preliminary statistical estimates for Abu Dhabi's Gross Domestic Product (GDP) for 2024, showing significant annual economic growth driven by the thriving non-oil sector. The 2024 GDP data highlights Abu Dhabi's sustained economic momentum, with total GDP and non-oil GDP reaching record values for the third consecutive emirate's real GDP expanded by 3.8 per cent in 2024 compared to 2023, reaching an all-time high value of Dh 1.2 trillion, driven by the non-oil economy which recorded a strong growth rate of 6.2 per cent, marking its highest-ever annual contribution of 54.7 per cent to total GDP. This underscores Abu Dhabi's continued success in implementing economic diversification strategies, reducing reliance on oil revenues, and fostering a sustainable, long-term non-oil sector remained the primary driver of economic momentum, with total non-oil GDP added value reaching Dh 644.3 billion, setting a record for the third consecutive year. Key sectors including manufacturing, construction, finance and insurance, information and communication, wholesale and retail trade, education, and health, achieved their highest-ever values, reflecting the emirate's commitment to industrial development, infrastructure investment, and human capital Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: 'The consistent, remarkable performance of the Falcon Economy in the past years is a testament to Abu Dhabi's forward-thinking economic strategies, progressive policies, and proactive responses to an evolving global landscape. With a record-breaking Dh 1.2 trillion GDP and a 6.2 per cent growth of non-oil sectors- accounting for 54.7 per cent of total GDP in 2024, this steady growth further enhances Abu Dhabi's status as a rising economic powerhouse and a premier destination for global talent, high-value investments, and world-class enterprises'.'Guided by our visionary leadership, we are future proofing Abu Dhabi's economy through pioneering initiatives that drive industrial transformation, stimulate sustainable growth, and reshape tomorrow's economy. The Economic Diversification 2.0 strategies are accelerating the transition towards a smart, diversified, and sustainable economy. We remain committed to unlocking new opportunities, empowering human capital, and forging strategic partnerships that will shape the economy of the future.'Abdulla Gharib Alqemzi, Director General of the Statistics Centre - Abu Dhabi, said: 'The annual GDP statistical estimates confirm Abu Dhabi's steady progress in economic transformation, with non-oil activities reaching a record 54.7 per cent contribution to GDP. This milestone reflects the emirate's commitment to fostering an investment-friendly environment, empowering entrepreneurs, and enhancing business opportunities across various high-growth sectors.''The strong performance of Abu Dhabi's economy in 2024 underscores the success of economic policies that facilitate business expansion and global trade which resulted in around 300 per cent increase in the foreign investments in Abu Dhabi over a decade.'The manufacturing sector remained one of the largest non-oil contributor to GDP, maintaining a stable 9.5 per cent share, with its added value reaching Dh111.6 billion—the highest on record. This sector achieved an annual growth rate of 2.7 per cent in 2024 compared to 2023, reflecting the success of the Abu Dhabi Industrial Strategy's (ADIS) programmes in driving industrial growth to strengthen the Emirate's position as the region's most competitive industrial construction sector followed closely, contributing 9.1 per cent to total GDP, with an impressive growth rate of 11.3 per cent and a record high of Dh107.4 financial and insurance sector also experienced significant expansion, growing 10.7 per cent year-on-year to reach Dh77.8 billion, contributing 6.6 per cent to the total GDP in 2024, further cementing Abu Dhabi's position as a leading financial information and communication sector grew by 6.6 per cent year-on-year, achieving a record value of Dh 32.2 billion and contributing 2.2 per cent to Abu Dhabi's total GDP in wholesale and retail trade sector also saw its highest-ever value at Dh62.7 billion, contributing 5.3 per cent to the emirate's GDP, reinforcing its vital role with a growth rate of 2.2 per cent in transportation and storage sector achieved the highest growth rate among all industries in 2024 at 16.9 per cent, driven by infrastructure investments, logistics advancements, and increased trade activity. The sector's contribution to Abu Dhabi's economy stands at 2.4 per cent with a total value of Dh27.8 real estate sector grew by 4.2 per cent in 2024, reflecting steady demand and investment in property development. Its contribution to the total GDP reached 3.5 per cent in 2024 with a total value exceeding Dh41.7 service sectors also experienced notable expansion, with education and health reaching their highest-ever values at Dh20.4 billion and Dh17 billion, respectively, through growth rates of 2.5 per cent and 4.1 per cent in 2024, underlining Abu Dhabi's commitment to human capital development and social wellbeing. In the fourth quarter of 2024, Abu Dhabi's GDP grew by 4.4 per cent, while non-oil GDP expanded by 6.6 per cent, maintaining its record-high contribution of 54.7 per cent to total GDP.

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