Abu Dhabi
WANA/ The Emirates News Agency (WAM) reported in the economic file of the Arab News Agencies Union (FANA) that the UAE economy is poised to achieve record levels of growth and competitiveness by 2025, as a result of accumulated efforts and strategic policies implemented by the UAE over the past years to establish a sustainable and diversified national economy based on innovation and knowledge, keeping pace with global changes.
The report indicated that the UAE economy is starting this year on a positive note, supported by a range of indicators, as the country’s foreign trade reached 3 trillion dirhams for the first time by the end of 2024. The Central Bank of the UAE expects the UAE economy to grow by 4.5% this year, while the World Bank forecasts that the expected growth rate will be even higher.
The report highlighted that the UAE economy will witness numerous qualitative economic initiatives and plans in 2025, enhancing the UAE’s directions amid the continuous expansion of non-oil private sector activities, reflecting strong confidence in the UAE’s economic prospects and attracting more foreign investments.
His Excellency Abdullah bin Touq Al Marri, Minister of Economy of the United Arab Emirates, stated in a statement to WAM that the UAE has succeeded in establishing itself as one of the most competitive and sustainable economies in the world, driven by an ambitious vision and strategic directions based on economic diversification, enhancing innovation, opening new horizons for investment and business, and accelerating growth in new economy sectors.
He added that the average GDP growth reached 4.8% between 2021 and 2024, while the average growth of the non-oil GDP reached 6.2%, with the contribution of non-oil sectors accounting for 75% of the national GDP.
He pointed out that the UAE economy continues its upward trajectory this year, driven by strong performance in technology, renewable energy, trade, financial services, and infrastructure sectors. According to the International Monetary Fund (IMF) estimates, the national economy is expected to grow by 5.1% in 2025.
He explained that the UAE’s economic policies in 2025 will focus on enhancing international strategic partnerships, supporting investments in startups and small and medium enterprises, continuing to develop the economic legislative framework to enhance the competitiveness of the new economic model, and developing digital infrastructure and green economy applications to boost the competitiveness of the business environment in the country.
Al Marri confirmed that the UAE continues to expand its renewable energy and circular economy projects, alongside enhancing investments in innovative sectors such as artificial intelligence and financial technology, supporting the country’s vision to become a global center for the new economy by the next decade, and enhancing its competitiveness in the face of global changes, while remaining an attractive destination for investments, talents, and new economy projects from around the world.
The IMF expects the UAE economy to be the fastest-growing in the region in 2025, continuing its performance driven.
