UAE's Non-Oil Sectors Drive Record Growth in Q2 2023

Abu Dhabi's non-oil economy grew 12.3% in Q2 2023, reaching a record high of 154 billion dirhams. Construction, financial services, and manufacturing sectors saw significant growth.
SCAD data shows robust growth in real estate, wholesale/retail trade, reaching highest quarterly values since 2014.
S&P forecasts 3% UAE economic growth in 2023 driven by non-oil sector, projecting further 4% expansion in 2024.
Key sectors driving UAE's growth include oil/gas, wholesale trade, real estate, construction, financial services.
UAE employment growth hit highest since October 2016, Purchasing Managers’ Index rose to 56.6 in October.

arabnews.com

Relevant topic timeline:

8/20/2023

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Posted 10/1/2023, 5:17:08 PM