- News
- 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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