Abu Dhabi: The United Arab Emirates' Gross Domestic Product (GDP) is expected to see significant growth, reaching 4.1 percent in 2025, as detailed in the latest World Bank MENA Economic Update. The report highlights a steady increase from 3.3 percent in 2024, driven by robust activity in the non-oil sectors. According to Emirates News Agency, the World Bank's semi-annual MENA Economic Update, titled "Growth in the Middle East and North Africa," was released today. It places the UAE at the forefront of regional economic expansions with a projected real GDP per capita growth of 2.5 percent in 2024 and 3.4 percent in 2025. This growth is attributed to strong performance in the non-oil sector, even as the nation continues its diversification efforts. The report also points to a slight decline in the UAE's current account surplus, expected to fall to 7.5 percent of GDP in 2024 from 9.2 percent in 2023. Despite this, the UAE is anticipated to maintain fiscal surpluses of 4.9 percent of GDP in 2024 and 4.7 percent in 2025. Regionally, the Middle East and North Africa (MENA) are forecasted to grow at 3.8 percent in 2025. The Gulf Cooperation Council (GCC) countries, in particular, are expected to see a significant rebound, with GDP growth projected to strengthen from 1.9 percent in 2024 to 4.2 percent in 2025. Conversely, growth in developing oil exporters and oil importers within the region is expected to decelerate during the same period. The World Bank's report underscores the varied economic trajectories within the MENA region, with the UAE leading the way in growth driven largely by its vigorous non-oil sector.
UAE Economic Forecast: Strong Growth Expected in Non-Oil Sector by 2025
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