UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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UAE's key priorities for 2023

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UAE's five key priorities for the new year during the first Cabinet meeting of 2023.

“We have five government priorities during 2023 that we approved today in the Council of Ministers.

“The first: national identity and its consolidation. The second: the environment and enhancing its sustainability. The third: the educational system and the development of its vision, indicators and outputs. The fourth: the localisation process and its acceleration. The fifth: our international economic partnerships and their expansion.” 

“International agreements were signed and approved in 2022, preparing our economic, social, infrastructure, and digital sectors for the next stage.

“In 2022, the government formed more than 120 teams from 110 federal and local authorities and 50 private sector agencies to work on updating more than 100 federal social, economic, educational, and regulatory laws to stay current with many changes that have passed us and the world.

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