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 minister of economy said Abdulla bin Touq Al Marri said 4.9% of non-oil GDP growth is possible in 2024

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UAE

According to  Abdulla bin Touq Al Marri UAE  economy  7% annual GDP growth is his personal target, but that 4.9% non-oil growth is possible in 2024. 

The International Monetary Fund (IMF) and the World Bank expected the UAE’s GDP to grow at 4.2% in 2024 he said, adding, it was possible that there may be 4.9% growth in non-oil GDP.

“When I said it, I said I want to do 7% per year, a year I get it, a year I don’t. It depends on the economy, what’s really happening in the economy globally,” Al Marri told the summit.

“We are looking at 4-5% this year, maybe 5% GDP growth, that’s something we are eying,” he said.  

Also UAE Growth from traditional economies such as real estate and tourism to new types of tourism, such as sustainable tourism, health tech, we’re looking into AI, generative AI, the UAE is becoming the capital of AI.

I must  say  UAE's diversified economy ensures a bright and resilient future. 


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