GDP Growth Non Oil Sector in the United Arab Emirates increased to 4.80 percent in the second quarter of 2024 from 4 percent in the first quarter of 2024. This dataset includes a chart with historical data for the United Arab Emirates GDP Growth Non Oil Sector.

United Arab Emirates GDP: 1995p: NF: Mining and Quarrying: Crude Oil and Natural Gas data was reported at 54,578.000 AED mn in 2003. This records an increase from the previous number of 47,956.000 AED mn for 2002. United Arab Emirates GDP: 1995p: NF: Mining and Quarrying: Crude Oil and Natural Gas data is updated yearly, averaging 47,956.000 AED mn from Dec 1995 (Median) to 2003, with 9 observations. The data reached an all-time high of 54,578.000 AED mn in 2003 and a record low of 45,360.000 AED mn in 1999. United Arab Emirates GDP: 1995p: NF: Mining and Quarrying: Crude Oil and Natural Gas data remains active status in CEIC and is reported by Ministry of Economy. The data is categorized under Global Database’s United Arab Emirates – Table AE.A030: SNA 1993: GDP: by Industry: 1995 Price. Rebased from 1995p to 2000p Replacement series ID: 117861508

Oil and gas producing countries in the Middle East are among those with the highest reliance on oil and gas for their economic performance. In 2023, Saudi Arabia attributed half of its GDP to oil and gas industry activity. Of the five countries with the highest oil and gas share in GDP, four were in the Middle East. By comparison, despite being the world’s largest oil producer, the oil and gas industry in the United States accounted for only eight percent of total GDP. The role of oil and gas in Saudi Arabia The oil and gas industry is the single most significant contributor to the economy of Saudi Arabia. The country is home to the largest conventional oil field in the world, the Ghawar Field, and oil production reaches around 11.4 million barrels per day. Oil and gas exports are the country’s main means of income. Due to a lower domestic demand than its closest producing competitors, the U.S. and Russia, Saudi Arabia has remained the country with the highest value of oil exports. In 2023, oil exports brought in over 210 billion U.S. dollars. GDP growth amid a stagnating oil market Oil prices and as such oil demand are the greatest determinant for the industry’s financial contributions. In 2024, a sluggish world oil market dampened prices for most of the second half of the year. This will likely be reflected in the fiscal year performance of major oil and gas entities such as Saudi Arabia’s Saudi Aramco and also impact GDP growth projections.

United Arab Emirates GDP: 2007p: Abu Dhabi: Non Oil Sector data was reported at 103,627.593 AED mn in Jun 2018. This records an increase from the previous number of 102,177.172 AED mn for Mar 2018. United Arab Emirates GDP: 2007p: Abu Dhabi: Non Oil Sector data is updated quarterly, averaging 100,394.000 AED mn from Mar 2015 (Median) to Jun 2018, with 14 observations. The data reached an all-time high of 103,627.593 AED mn in Jun 2018 and a record low of 95,293.558 AED mn in Mar 2015. United Arab Emirates GDP: 2007p: Abu Dhabi: Non Oil Sector data remains active status in CEIC and is reported by Statistics Center - Abu Dhabi. The data is categorized under Global Database’s United Arab Emirates – Table AE.A010: SNA 2008: GDP: by Industry: 2007 Price: Abu Dhabi.

United Arab Emirates GDP: Non-Financial Corporations excl Oil data was reported at 213,190.664 AED mn in Dec 2018. This records a decrease from the previous number of 221,922.270 AED mn for Sep 2018. United Arab Emirates GDP: Non-Financial Corporations excl Oil data is updated quarterly, averaging 203,008.270 AED mn from Mar 2012 (Median) to Dec 2018, with 28 observations. The data reached an all-time high of 226,390.793 AED mn in Jun 2018 and a record low of 163,986.778 AED mn in Dec 2012. United Arab Emirates GDP: Non-Financial Corporations excl Oil data remains active status in CEIC and is reported by Federal Competitiveness and Statistics Authority. The data is categorized under Global Database’s United Arab Emirates – Table AE.A003: SNA 2008: GDP: by Industry: Current Price.

United Arab Emirates GDP: Abu Dhabi: 2014p: sa: Mining and Quarrying (including Crude Oil and Natural Gas) data was reported at 133,105.143 AED mn in Jun 2024. This records an increase from the previous number of 131,312.044 AED mn for Mar 2024. United Arab Emirates GDP: Abu Dhabi: 2014p: sa: Mining and Quarrying (including Crude Oil and Natural Gas) data is updated quarterly, averaging 130,823.773 AED mn from Mar 2014 (Median) to Jun 2024, with 42 observations. The data reached an all-time high of 147,927.906 AED mn in Dec 2018 and a record low of 96,833.411 AED mn in Dec 2014. United Arab Emirates GDP: Abu Dhabi: 2014p: sa: Mining and Quarrying (including Crude Oil and Natural Gas) data remains active status in CEIC and is reported by Statistics Center - Abu Dhabi. The data is categorized under Global Database’s United Arab Emirates – Table AE.A014: SNA 2008: GDP: by Industry: 2014 Price: Abu Dhabi: Seasonally Adjusted.

United Arab Emirates GDP: Ajman: NF: Mining and Quarrying: Crude Oil and Natural Gas data was reported at 0.000 AED mn in 2013. This stayed constant from the previous number of 0.000 AED mn for 2012. United Arab Emirates GDP: Ajman: NF: Mining and Quarrying: Crude Oil and Natural Gas data is updated yearly, averaging 0.000 AED mn from Dec 2001 (Median) to 2013, with 13 observations. United Arab Emirates GDP: Ajman: NF: Mining and Quarrying: Crude Oil and Natural Gas data remains active status in CEIC and is reported by Federal Competitiveness and Statistics Authority. The data is categorized under Global Database’s United Arab Emirates – Table AE.A022: SNA 1993: GDP: by Industry: Current Price: Ajman.

In general, foreign direct investments (FDIs) play a crucial role in driving a country’s economic development, promoting diversification, and enhancing competitiveness. The Gulf Cooperation Council (GCC) countries, which heavily rely on the oil and gas sectors, are particularly vulnerable to fluctuations in commodity prices. However, these countries have recognized the imperative of economic diversification and have increasingly turned to inward FDIs to achieve it. By attracting capital, advanced technology, and expertise from foreign investors, FDIs enable the GCC countries to expand their economic base beyond the oil and gas sectors. This diversification not only creates employment opportunities but also fosters resilient economic growth, ultimately leading to an improvement in the living standards of the local population. This study investigates the macroeconomic and environmental factors that potentially attract foreign direct investment (FDI) inflows into the Gulf Cooperation Council (GCC) countries in the long run. Additionally, the study explores the causal relationship between these factors and FDI inflows. The panel autoregressive distributed lag (ARDL) approach to co-integration is the primary analytical technique used, utilizing long time-series data from six GCC countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) during the period 1990–2019. The empirical results indicate that, in the long run, almost all independent variables significantly influence FDI in GCC countries. Variables such as GDP growth (GDPG), inflation (INFL), carbon dioxide emissions (CO2), and urbanization (URB) are found to be highly significant (p≤0.01) in their impact on FDI. Moreover, unemployment (UNEMP) also positively and significantly influences FDI in these countries in the long run. Based on the key findings, strategies aimed at reducing persistently high unemployment rates, maintaining population growth, viewing FDI as a driver for GDP growth, and continuing with infrastructure development and urbanization are expected to attract more FDI inflows into GCC countries in the long run. Additionally, fostering both long-term economic incentives and creating a conducive business infrastructure for investors are vital for attracting inward FDI into any nation, including those in the GCC. This research would benefit various stakeholders, including governments, local businesses, investors, academia, and the local society, by providing valuable knowledge and informing decision-making processes related to economic development, diversification, and investment promotion.