Dubai announced the emirate's GDP

Dubai announced the emirate's GDP

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  • The Government of Dubai announced the emirate's GDP reached $30.3 billion

The Government of Dubai announced the emirate's GDP reached $30.3 billion, growing by 2.8% in Q1 2023

– Compared to the same period in 2022.

According to the Organization for Economic Cooperation and Development (OECD) data, Dubai's GDP growth has surpassed average global rates in Q1 2023:

  • European Union rose by 1.1%
  • USA increased by 1.8%

Sectors with the biggest contributions to the GDP, according to the Dubai Digital Authority data:

  • Trade – 22.9%
  • Transportation and Storage – 14.1% (The highest growth – 10.3%)
  • Accommodation and Food Services – 4.1%
  • Financial and Insurance – 12.7%
  • Real Estate Activities – 7.4%

Dubai's non-oil economy continued to strengthen in July 2023

– According to the rating agency, S&P Global's survey.

Dubai Purchasing Managers' Index (PMI) stood at 55.7 in July. A reading above 50 indicates an expansion in business conditions.

Travel and tourism is a sector with the highest demand growth.

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