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H.E. Abdulla bin Touq Al Marri: Under the wise leadership’s vision, the UAE has built an innovative economic model based on global best practices. The continuous growth of the national economy reflects the success of the UAE’s economic diversification policies.
We remain committed to achieving the goals of “We the UAE 2031”, aiming to expand the UAE’s GDP to AED 3 trillion by the next decade and securing the UAE’s position as a global hub for new economy.
Hanan Ahli: The UAE’s robust economic performance is backed by a clear future-oriented vision focused on sustainable economic growth.
Additional Subtitles:
• UAE’s real GDP reaches AED 1.322 trillion
• Non-oil GDP reaches AED 987 billion
• Contribution of non-oil sectors to real GDP is 74.6%
• Top-growing sectors: Transport, construction, finance, government, and hospitality
• Leading contributors to non-oil GDP: Trade, manufacturing, finance, construction, and real estate
• Nominal GDP reaches AED 1.486 trillion (6% growth)
• Nominal non-oil GDP reaches AED 1.136 trillion (6.6% growth)
The UAE has recorded significant growth in its real GDP by 3.8%, reaching AED 1.322 trillion in the first nine months of 2024, compared to the same period in 2023. Meanwhile, non-oil GDP expanded by 4.5% to AED 987 billion, accounting for 74.6% of total real GDP, while oil-related activities accounted for 25.4%.
Commenting on this performance, H.E. Abdulla bin Touq Al Marri, Minister of Economy, emphasized that the UAE’s sustained economic growth is a testament to the success of its policies and strategies aimed at enhancing economic diversification, streamlining business operations, and driving the expansion of new economy sectors as key drivers of sustainable economic and social development. He highlighted that, under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, the UAE has built an agile and globally competitive economic model capable of adapting to global challenges and rapid changes.
“The UAE continues to increase the contribution of non-oil sectors to the national economy by developing flexible economic legislation, enhancing global trade openness, and building strategic partnerships with key international markets. These efforts align with the “We the UAE 2031” vision, which aims to grow the UAE’s GDP to AED 3 trillion within the next decade and secure its position as a global economic hub,” H.E. bin Touq added.
Hanan Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, stated: “The UAE’s GDP growth over the past nine months reflects our strong economic performance and future-driven vision focused on sustainable economic expansion, led by non-oil sectors.”
“Economic diversification remains a key pillar of the UAE national strategy, ensuring long-term growth in the economy and in key economic and development indicators,” she emphasized.
Top-Growing Economic Sectors
During the first nine months of 2024, the UAE’s fastest-growing economic sectors showcased remarkable expansion compared to the same period in 2023. The transport and storage sector experienced a significant growth of 7.9%, largely driven by a surge in passenger traffic at UAE airports, which welcomed over 103 million travelers, marking a 20% increase. Similarly, the construction and building sector expanded by 7.4%, fueled by substantial investments in large-scale urban infrastructure projects. The financial and insurance sector also saw steady growth, rising by 6.8%, while government activities expanded by 5.0%. Additionally, the hospitality and restaurant sector recorded a 4.9% increase, reflecting the continued momentum in the tourism industry.
When examining the key contributors to non-oil GDP, trade emerged as the largest sector, accounting for 16.5% of total non-oil economic output. Following closely behind, manufacturing contributed 15.1%, underscoring the UAE’s industrial strength. The financial and insurance sector played a crucial role, making up 12.1% of non-oil GDP, while construction and building activities contributed 11.7%, and the real estate accounted for 7.6%.
Overall, the UAE’s nominal GDP reached AED 1.486 trillion during the first nine months of 2024, reflecting an impressive 6% year-on-year growth. The nominal non-oil GDP also grew significantly, reaching AED 1.136 trillion, with a 6.6% increase. Notably, non-oil sectors contributed 76.5% to the total GDP, further highlighting the UAE’s progress in economic diversification and sustainable growth.
United Voices for 2045: UAE Launches a Global Survey to Shape the Future of Sustainable Development
General Secretariat of the National Committee on SDGs Launches First Report on Private Sector Sustainability Initiatives in UAE
Dubai, UAE- 18 August 2019
The Secretariat of the National Committee on Sustainable Development Goals launched the first report on private sector initiatives for sustainability in UAE titled "Achieving Sustainable Development Goals in the UAE: Private Sector Contributions." Global Strategy Consulting firm, Oliver Wyman developed the report in partnership with the Private Sector Advisory Council on SDGs (PSAC) founded by the Federal Competitiveness and Statistics Authority (FCSA).
The report sheds a spotlight on the efforts exerted by the National Committee on SDGs to serve as a platform for coordination and partnerships through PSAC. It also focuses on the role of private companies in achieving SDGs by means of sharing ideas and practices on the key opportunities and challenges that companies face in their efforts to implement the UAE Agenda 2030.
The initiatives cover various sectors, including renewable energy, real estate, retail, aviation and land, and sea transport services. These initiatives have contributed to the UAE’s efforts to promote sustainability within the private sector and make progress towards achieving the 2030 global agenda of sustainability.
H.E. Abdullah Lootah, Director General of FCSA and Vice-Chair of the National Committee on SDGs and Chair of the PSAC on SDGs, stated: "At a time of multiple drastic and relentless economic, social and technological changes experienced by the world, the public and private sectors partnerships and the achievement of sustainable progress and prosperity for the society of UAE become essential. Based on the initiatives and experiences presented by the report, the UAE has turned out to be a global role model in the governance of SDGs and harnessing the innovative partnerships between the public and private sectors to achieve them."
The report also reviews notable initiatives adopted by the National Committee on SDGs in UAE. The committee is the government team in charge of implementing the 17 SDGs in the UAE and was formed in January 2017 and chaired by Her Excellency Reem Bint Ebrahim Al Hashimy, Minister of State for International Cooperation. The committee’s members include 17 federal level government authorities who agreed on a road map for the year 2030. The road map focuses on four key stages, including raising awareness, establishing the foundations, developing policies, reporting the progress achieved, and monitoring the performance.
Greg Rung, Partner at Oliver Wyman, stated: "The ongoing cooperation between the UAE government and the private sector is crucial in boosting the country’s efforts to implement the United Nation’s 17 SDGs successfully."
"Oliver Wyman is proud to collaborate with PSAC for producing this report and partner with the entity to support the UAE government in its commitment to successfully achieving a prosperous and sustainable future for all," added Rung.
Members of PSAC have also drafted a consultative framework used as a formal mechanism to engage the private sector in UAE and move forward in achieving UAE Agenda 2030. Additionally, PSAC developed a strategy to engage the youth, to ensure that development is not only for the youth but also for and through them to further promote and increase their positive contributions as agents of change.
H.E. Abdullah Lootah concluded his statement by stating: "Recognizing that the implementation of SDGs could only get ahead by involving all relevant stakeholders from different government and private sectors, we have pooled resources with the Oliver Wyman team to prepare this important report with sights set to shed light on the efforts of the private sector as a strategic partner of the UAE government. I am proud of the commitment of the members of PSAC and their contributions to supporting the sustainability process in UAE, and the dissemination of such UAE experiences to the global community."
The report showcases the most important sustainability initiatives developed by 12 national and international companies operating in UAE, namely: Dubai Holding Company, Careem, Majid Al Futtaim Group, DP World, EMAAR Group, Al Serkal Group, First Abu Dhabi Bank, Emirates Airline, Multinational Companies Business Group, Dubai Free Zones Council and MASDAR Group.
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UAE First Regionally and Seventh Globally, According to IMD World Competitiveness Yearbook 20182018
Mohammad Bin Rashid: Our competitiveness journey is an accelerating one, and it only makes us more determined to reach the highest ranks
UAE is number one globally in 23 indicators including “Government Decisions” and “International Talent”
- UAE is the only country in the region to be among the top 10 in the World Competitiveness Yearbook 2018
- UAE maintained its leadership in the region and moved up three ranks from 2017’s position
- UAE moved up 21 positions in 7 years from 2011 till 2018
- Mohammad Bin Rashid: We have the determination, we have the talent, and we have the resources. Being Number One suits our nation
- Mohammad Bin Rashid: UAE’s experience is a regional one that led to a top global rank. An experience of determination and success that is open for all the Arab nations. We will continue in enhancing our business environment, our infrastructure and our resources, because we want a better life for our people and all the residents in the UAE.
Dubai, UAE – 23 May 2018
The United Arab Emirates came in first rank regionally and seventh rank globally in global competitiveness. That is according to the latest edition of the World Competitiveness Yearbook 2018, published by the Swiss based Insatiate of Management Development (IMD) that was unveiled today. According to the report, the UAE out-performed advanced economies such as Sweden, Norway and Canada and has jumped 21 ranks between the years 2011 and 2018.
According to the report, the UAE came first globally in various indicators such as “Government Decisions”, “Public-Private Partnerships”, “Employment” and “International Talent”. The UAE also came second globally in “Business Efficiency” factor, and third globally in “Diversification of Economy”, “City Management” indicators, forth in “Energy infrastructure” and “Development and Application of Technology” indicators.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President Prime Minister and Ruler of Dubai stated that the UAE’s experience is a regional one that led to a top global rank. An experience of determination and success that is open for all the Arab nations. We will continue in enhancing our business environment, our infrastructure and our resources, because we want a better life for our people and all the residents in the UAE.
His Highness added that UAE’s competitiveness journey is an accelerating one, and it only makes us more determined to reach the highest ranks, stressing that we will continue in the competitiveness race and we will not settling for anything less than being number one globally. His Highness concluded by saying” We have the determination, we have the talent, and we have the resources. Being Number One suits our nation.
Emirati Leadership
The IMD World Competitiveness Yearbook 2018 is comprised of four key factors, 20 sub factors and 340 indicators that cover all the major areas of a nations competitiveness in social, administrative, business economic topics that also include government efficiency, education and innovation. In the Economic Factor, the UAE moved from fifth globally in 2017, to third globally in 2018. It also retained its fourth global rank in the government efficiency factor.
On an indicator level, UAE held a number of advanced position in various indicators such as International Trade (1st globally), Employment (3rd globally), and International Investment (10th globally). UAE also achieved high ranks in a number of indictors such as first globally in Employment as a percentage of population, 3rd globally in Diversification of Economy, 5th globally and Export Growth and 6th globally in Youth Unemployment (lack of). The UAE also achieved number one in Quality of Air Transportation and Public-Private Partnerships. The UAE also came 2nd globally in Cyber Security, 3rd globally in Management of Cities, Maintenance and Development and 4th globally in Energy Infrastructure and Application and Development of Technology.
Government and Business Environment
In the Government Effeminacy factor, UAE maintained its 4th rank globally as well as achieved the No 1 rank globally in eight indicators, such as “Government Decisions”, “Immigration laws”, 2nd globally in “Adaptability of Government Policy” and “Lack of Bureaucracy”, 3rd in “Ease of Doing Business” and 4th globally in “Labor regulations”.
As for the Business Efficiency, UAE kept its 2nd rank globally and achieved the first rank globally in 7 of its indicators such as “Overall productivity”, “Industrial Disputes (Lack of)”, “Labor force percentage of total population”, “International Experience” and “Attitudes Towards Globalization”. UAE also came 2nd globally in “Entrepreneurship”, “Digital Transformation”, “Changing Market Conditions” and “Agility of Companies”. The UAE achieved 3rd globally in “Opportunities and Threats” and 5th globally in Use of big data and analytics.”
Commenting on this year’s performance, Her Excellency Reem bin Ibrahim Al Hashimy, Minister of State of International Corporation and Chairwoman of the Federal Competitiveness and Statistics Authority, said: “Under the guidance and direction of the UAE wise leadership, which is built on the continued and sustainable investment in human development and national talent, adoption of innovation and the non-stop development and improvement for the UAE economy; UAE has proven the effectiveness of its comprehensive developmental strategy that its government entities is implementing.”
“We wish to congratulate the UAE leadership and people for this great achievement and comment the collaborative efforts of all the local and federal government entities that worked hand in hand, in support of UAE international competitiveness and the progress it made this year,” added Her Excellency.
Malik Radwan Al Madani, Director of Competitiveness Strategy Deferment at the FCSA added that “No single entity alone can enhance competitiveness performance. It is the result of a collaborative effort between all the relevant local and federal government entities, through the commitment in the constant improvement of performance, the launch of impactful programs and initiatives that aim to extend services to businesses and individuals, thus, moving the nation’s competitiveness scale and contributing to the countries journey to become one of the best countries in the world by the year 2021.”
Global Rankings
In an analysis prepared by the Competitiveness Strategy at the FCSA showed that this year’s top 10 position was highlighted by extensive movement between competing economies. Most prominently, was the United States of America taking over Hong Kong as the Number 1 most competitive country. Hong Kong moved to 2nd followed by Singapore which moved up to number 3. The Netherlands captured the 4th place moving ahead of Switzerland that moved back to 5th and Denmark to the 6th place. UAE moved up to 7th place ahead of Norway, 8th, Sweden 9th and Canada 10th.
The IMD World Competitiveness Center, a research group at IMD business school in Switzerland, has published the rankings every year since 1989. This year 63 countries are ranked.
Dubai, UAE – 27, May 2019
UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum directed all government entities in the UAE to achieve the top ten in 1000 global competitiveness indicators over the coming ten years.
His Highness’ direction came during his visit to a meeting held at the Bab Al Shams Resort in Dubai today on the occasion of the tenth anniversary of the beginning of competitiveness in the UAE. FCSA Board of Directors met today in the same hall from which the first government team was created to manage UAE competitiveness ten years ago.
I congratulate my brother Shaikh Khalifa bin Zayed on the 10th anniversary of the beginning of our competitiveness path. We have taken the UAE to top positions in education, health, economy, innovation, security and safety. We started with a small team and an ambitious idea. Today, competitiveness is an integral part of the UAE government ecosystem"
"We are looking forward to a decade of innovative competitiveness … building upon what we have achieved in the past ten years. Today, the UAE is in the top positions in more than 300 indicators… In the next ten years, UAE will be in the top ten in more than 1,000 indicators. We have faith in our youth to achieve what our people aspire the UAE to be, the best in the world."
The FCSA team presented a summary report on list of key achievements of UAE global competitiveness over the past 10 years. The team also briefed His Highness a number of upcoming strategic initiatives in competitiveness, statistics and sustainable development goals.
His Excellency Mohammad Al Gergawi, instructed the FCSA team to work in accordance with the directives of His Highness Sheikh Mohammed bin Rashid. He instructed FCSA to launch an initiative to accelerate achieving advanced competitiveness positions in partnership with the executive teams of the competitiveness indicators, in order to preserve the accomplishments the UAE achieved so far.
The FCSA Board of Directors also stressed the importance of focusing on capacity building and empowering young national talent in understanding competitiveness reports and indicators. Formal training, secondments conferences, events and specialized workshops are to be utilized for enhanced capacity building in competitiveness.
The FCSA board also praised the FCSA management team’s efforts in developing and modernizing the statistical the infrastructure in the UAE, underlining the importance integrating statistical and competitiveness strategy.
FCSA board also directed the FCSA management to identify global experiences in the field of statistics and data to mark a quantum leap based on the latest technologies on the global arena, such as analytical tools for large data, the Internet of things (IOT) and Artificial Intelligence (AI).
"Cooperation between federal, local and private sector entities and the community is an important factor that enabled the UAE to achieve such major achievements in global competitiveness reports and indicators, and enabled UAE be in the Top Ten ranks in 311 competitive indicators," said HE Al Gergawi.
Al Gergawi stressed that the UAE, under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, UAE President and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President Prime Minister and Ruler of Dubai, have become a model of excellence and leadership. Not only in the Arab world, but also globally, the UAE today leads in how government performance can be enhanced and modernized, making the UAE a destination for other governments around the world looking to enhance their own competitiveness journey"
HE Abdullah Lootah, director general of the Federal Competitiveness and Statistics Authority said, "The celebration of the 10th anniversary to launch of the global competitiveness journey is a major milestone for the country’s ongoing march towards global leadership. The cooperation we are witnessing from our government and private sector stakeholders contributed significantly in the impressive results UAE achieved today. Through these innovative partnerships, we will continuous our enhancement in legislations and procedures," added Lootah.
Journey of competitiveness achievements
he UAE’s competitiveness journey began in 2009 with a small team of seven working under the leadership of His Excellency Mohammed Al Gergawi, Minister of Cabinet Affairs and the Future. After less than 18 months of founding work, the competitiveness Team expanded in size and function. An independent governmental body representing members of its administration representing the seven emirates. After the establishment of the Emirates Competitiveness Council (ECC), HE Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation became chair of the board for nearly eight years.
Under her leadership, UAE competitiveness witnessed several important milestones such as hosting international experts and global events in competitiveness, the 3rd the Global Federation Competitiveness Councils (GFCC) forum held in Dubai in 2012.
The ECC Council also worked to strengthen bilateral relations prominent publishers of global competitiveness reports and indicators such as the World Economic Forum, Institute of Management Development (IMD) in Switzerland and The World Bank, the publisher of the Ease of Doing Business report.
In 2015, ECC and the National Bureau of Statistics (NBS) merged to form the Federal Competitiveness and Statistics Authority (FCSA), the federal agency charged with three mandates: enhancing UAE’s global competitiveness, modernizing the country’s statistical ecosystem and fulfilling UAE’s sustainable development goals.
The current board of directors includes 20 members representing a group of ministries and the local statistical center in the country.
The UAE competitiveness journey also marked a number of important achievements since the establishment of the FCSA, such as achieving the UAE’s top positions globally in 75 international competitive indices. The United Arab Emirates is among the top ten in 311 competitive indicators in 17 competitive reports monitored by the Authority. Another accomplishment that supported UAE competitiveness was the formation of the Executive Teams on Competitiveness Indicators as one of the outcomes of the competitive sessions in the UAE Annual Government Meetings, as well as the Number One Indicator Challenge project.
Dubai, 23 May 2019
In commemoration of Zayed Humanitarian Day, which falls on the 19th day of Ramadan every year, the Federal Competitiveness and Statistics Authority observed this day and noble initiative by serving 4000 healthy food parcels to labors at their work places in Dubai.
All FCSA’s staff participated in preparing food parcels comprising of a fresh meal, free from any processed or preserved ingredients to express their gratitude to laborers for their ongoing efforts in support of the UAE’s progress and development.
Abdullah Lootah, Director-General of FCSA, availed the occasion to express admiration of accentuate FCSA’s commitment to contributing on the Zayed Humanitarian Work Day in honor of late Sheikh Zayed bin Sultan Al Nahyan’s (may God have mercy upon him)philosophy on humanitarian action. “Our founding father late Sheikh Zayed bin Sultan Al Nahyan, may Allah rest his soul in peace, devised a crystal-clear approach for humanitarian work and we are definitely following his steps and honoring such a noble ongoing initiative to show appreciation and respect to our fellow human beings.”
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