The gross domestic product (GDP) in current prices in the United Arab Emirates was estimated at about 537.08 billion U.S. dollars in 2024. Between 1980 and 2024, the GDP rose by approximately 495.35 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 199.73 billion U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

The Gross Domestic Product (GDP) in the United Arab Emirates was worth 504.17 billion US dollars in 2023, according to official data from the World Bank. The GDP value of the United Arab Emirates represents 0.48 percent of the world economy. This dataset provides - United Arab Emirates GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

UAE GDP for 2023 was 514.13 billion US dollars, a 2.27% increase from 2022.

<ul style='margin-top:20px;'>

<li>UAE GDP for 2022 was <strong>502.73 billion US dollars</strong>, a <strong>21.09% increase</strong> from 2021.</li>
<li>UAE GDP for 2021 was <strong>415.18 billion US dollars</strong>, a <strong>18.8% increase</strong> from 2020.</li>
<li>UAE GDP for 2020 was <strong>349.47 billion US dollars</strong>, a <strong>16.39% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

In 2020, the extractive industries, including oil and natural gas, accounted for the largest share of real gross domestic product (GDP) in the United Arab Emirates (UAE), representing just over ** percent. The wholesale and retail trade industries followed closely at approximately **** percent. Conventional versus renewable energy In the United Arab Emirates, extractive industries have long been the backbone of the domestic economy, contributing over *** billion UAE Dirham to the country’s GDP in 2020. The UAE has also been ranked among the global leaders in crude oil production. However, the country is diverging from such conventional energy sources for the sake of a more environmentally sustainable economy. The UAE is working towards ** percent of renewable energy by 2030, while the UAE Strategy 2050 further targets a contribution of ** percent of clean energy to the energy mix. Non-oil economic sectors on the rise Despite the availability of vast deposits of fossil fuels and the country’s historical dependency on these natural resources, the UAE has also been striving towards a more diversified economy. Among the country’s non-oil industries, tourism and hospitality have contributed significantly to domestic economic growth. The pandemic-delayed Dubai Expo 2020 has cushioned the initial shock of COVID-19, offering a worthwhile opportunity for recovery and growth for the UAE tourism-related industries.

UAE economic growth for 2023 was 514.13 billion US dollars, a 2.27% increase from 2022.

<ul style='margin-top:20px;'>

<li>UAE economic growth for 2022 was <strong>502.73 billion US dollars</strong>, a <strong>21.09% increase</strong> from 2021.</li>
<li>UAE economic growth for 2021 was <strong>415.18 billion US dollars</strong>, a <strong>18.8% increase</strong> from 2020.</li>
<li>UAE economic growth for 2020 was <strong>349.47 billion US dollars</strong>, a <strong>16.39% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

The United Arab Emirates: Gross domestic product, billions of Euro: The latest value from is billion Euro, unavailable from billion Euro in . In comparison, the world average is 0.00 billion Euro, based on data from countries. Historically, the average for the United Arab Emirates from to is billion Euro. The minimum value, billion Euro, was reached in while the maximum of billion Euro was recorded in .

The United Arab Emirates: Gross domestic product, billions of Canadian dollars: The latest value from is billion Canadian dollars, unavailable from billion Canadian dollars in . In comparison, the world average is 0.00 billion Canadian dollars, based on data from countries. Historically, the average for the United Arab Emirates from to is billion Canadian dollars. The minimum value, billion Canadian dollars, was reached in while the maximum of billion Canadian dollars was recorded in .

The United Arab Emirates: Gross domestic product, billions of Australian dollars: The latest value from is billion Australian dollars, unavailable from billion Australian dollars in . In comparison, the world average is 0.00 billion Australian dollars, based on data from countries. Historically, the average for the United Arab Emirates from to is billion Australian dollars. The minimum value, billion Australian dollars, was reached in while the maximum of billion Australian dollars was recorded in .

According to projects for 2020, the mining and quarrying sector including crude oil and gas contributed about ****** billion United Arab Emirates Dirham to the gross domestic product (GDP) of the United Arab Emirates. This was the leading economic sector of the UAE closely followed by wholesale and retail with ***** billion United Arab Emirates dirham in that year. UAE oil industry   As of 2019, the United Arab Emirates was one of the top ten crude oil producers worldwide. The volume of crude oil production in that year exceeded one billion barrels. The country was also a member of the Organization of Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF). It was a major oil producer and exporter and held about ** billion barrels of crude oil reserves . Each emirate has control over heir oil and gas production processes. The emirate of Abu Dhabi controlled over ** percent of the country’s reserves. It was handled by Abu Dhabi National Oil Company (ADNOC). Abu Dhabi’s exports exceeded *** million barrels in 2019. The largest gas project in the country in 2020 was ADNOC - Hail and Ghasha Sour Gas Development: Package *. UAE economy The UAE’s economy witnessed a sharp decrease in its real GDP growth in 2020 post the COVID-19 pandemic, however, it was expected to recover gradually over the next couple of years. The coronavirus crisis has dealt a heavy blow to the country. This is not only due to the impact of low oil prices, but also a huge loss to important non-oil economic sectors such as tourism. .The largest contributor to Dubai’s GDP in 2021 was the wholesale and retail industry The central bank expected a full economic recovery in 2022. The largest share of announced foreign direct investment (FDI) projects in 2020 in the emirate of Dubai were greenfield projects.

The growth of the real gross domestic product (GDP) in the United Arab Emirates was estimated at about 3.76 percent in 2024. From 1980 to 2024, the growth rose by approximately 5.54 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the growth will rise by around 0.14 percentage points, showing an overall upward trend with periodic ups and downs.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

This statistic describes the economic contribution of government collective spending in tourism to the United Arab Emirates from 2012 to 2017, with an estimate for 2018 and a forecast for 2028. According to forecasts, the contribution of government collective spending in tourism to the GDP of the UAE will be 12.2 billion United Arab Emirates dirham in 2028.

UAE GNP for 2023 was 513.95 billion US dollars, a 10.72% increase from 2022.

<ul style='margin-top:20px;'>

<li>UAE GNP for 2022 was <strong>464.20 billion US dollars</strong>, a <strong>13.71% increase</strong> from 2021.</li>
<li>UAE GNP for 2021 was <strong>408.25 billion US dollars</strong>, a <strong>5.66% increase</strong> from 2020.</li>
<li>UAE GNP for 2020 was <strong>386.39 billion US dollars</strong>, a <strong>9.23% decline</strong> from 2019.</li>
</ul>GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

This statistic describes the economic contribution of domestic expenditure to the United Arab Emirates from 2012 to 2017, an estimate for 2018 and forecast for 2028. According to forecasts, the contribution of domestic expenditure to the GDP of the UAE will be 65.8 billion United Arab Emirates dirham by 2028.

This statistic describes the direct tourism contribution to the gross domestic product of the United Arab Emirates from 2012 to 2017, with an estimate for 2018 and a forecast for 2028. According to forecasts, the direct tourism contribution to the GDP of the UAE will be 129.9 billion United Arab Emirates dirham by 2028.

In 2023, the unemployment rate in the United Arab Emirates was at 2.15 percent of the total labor force. The unemployment rate depicts the share of a country's labor force without jobs but available and actively seeking employment. The United Arab Emirates’ unemployment rate is quite low, and the region has one of lowest amounts of unemployed persons worldwide. Oil-based economyOne of the most important economic centers of Western Asia, the United Arab Emirates’ gross domestic product (GDP) amounted to around 424.64 billion U.S. dollars in 2018. The United Arab Emirates’ economy is particularly reliant on oil exports, and it holds the seventh-largest proved oil reserves. Most reserves are located in Abu Dhabi in a combination of offshore and onshore locations. UAE populationDue to the profitable nature of the petroleum industry and a relatively small population, the country has one of the highest GDP per capita rates in the world, at over 40,700 U.S. dollars in 2018. The country’s population is mostly comprised of expatriate workers, the majority of whom who have cultural backgrounds from South Asia, Egypt, and the Philippines. Most of the country’s population fall between the ages of 15 and 64 years.

In 2019, the contribution of the real estate sector to the gross domestic product (GDP) of the emirate of Abu Dhabi reached around 38.4 billion United Arab Emirates dirhams (AED), down from around 47 billion AED in 2017. The total estimated GDP of the emirate for that year was about 915 billion dirhams.

 The economy of Abu Dhabi 

The UAE is a federation comprising of seven emirates, the largest of which is Abu Dhabi. It makes up around three-quarters of the country’s total land area and is the center of the oil industry. By 2030, the emirate of Abu Dhabi was forecasted to have a population size of around 1.6 million people. The country has been diversifying its economy to shift away from its reliance on the hydrocarbons sector. Following the same strategy, the Abu Dhabi government has adopted transformative steps to achieve a knowledge-based economy, making the emirate an attractive business environment. Moreover, Abu Dhabi’s strategic geographic location, highly developed infrastructure, in addition to access to energy sources have contributed to its integrated business environment. The market capitalization of the emirate in 2019 was almost double its value in 2010.

 The future of the real estate market  

The real estate sector has been one of the driving forces of the UAE’s economic growth over the past two decades. The total number of real estate enterprises in Abu Dhabi reached 880 in 2017. However, the market conditions have been slowing down recently, with COVID-19 adding further instability. The UAE and Abu Dhabi authorities have taken initiatives aiming to support the economic recovery of the emirate for 2021.

In UAE Sharing Economy Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

UAE Commercial Real Estate Market size was valued at USD 82 Billion in 2024 and is projected to reach USD 121.68 Billion by 2032, growing at a CAGR of 5.8% from 2026 to 2032. Key Market Drivers:• Strong Economic Diversification Initiatives: The UAE has been actively diversifying its economy away from oil dependence, leading to the growth of various sectors such as tourism, technology, and finance. According to the UAE's Ministry of Economy, the non-oil sector contributes approximately 70% to the country's GDP, reflecting the success of diversification efforts. The UAE's strategic initiatives aim to achieve sustainable economic growth, thereby bolstering the commercial real estate sector.• Increased Foreign Direct Investment (FDI): The UAE continues to attract significant foreign direct investment, which is a crucial driver for the commercial real estate market. In 2022, the UAE recorded over AED 73 billion (approximately USD 19.8 billion) in FDI inflows, as reported by the UAE Ministry of Economy. This influx of investment reinforces the UAE's position as a global business hub, enhancing demand for commercial properties.

This statistic shows gross domestic product (GDP) of the MENA countries in 2023. The MENA region in North Africa and the Middle East comprises the countries Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen. In 2023, GDP of Algeria amounted to approximately 240.06 billion U.S. dollars.

UAE foreign direct investment for 2023 was 30.69 billion US dollars, a 34.97% increase from 2022.

<ul style='margin-top:20px;'>

<li>UAE foreign direct investment for 2022 was <strong>22.74 billion US dollars</strong>, a <strong>10.01% increase</strong> from 2021.</li>
<li>UAE foreign direct investment for 2021 was <strong>20.67 billion US dollars</strong>, a <strong>3.94% increase</strong> from 2020.</li>
<li>UAE foreign direct investment for 2020 was <strong>19.88 billion US dollars</strong>, a <strong>11.24% increase</strong> from 2019.</li>
</ul>Foreign direct investment refers to direct investment equity flows in the reporting economy. It is the sum of equity capital, reinvestment of earnings, and other capital. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy. Ownership of 10 percent or more of the ordinary shares of voting stock is the criterion for determining the existence of a direct investment relationship. Data are in current U.S. dollars.