The United Arab Emirates' economy is now expected to grow 4.9% in 2025, up from earlier forecasts of 4.4%, supported by higher oil production and robust growth in the non-hydrocarbon sector. In its quarterly update, the Central Bank said the hydrocarbon sector is projected to expand by 5.8% in 2025 and 6.5% in 2026, as oil production increases in line with OPEC+ quotas. Meanwhile, non-hydrocarbon GDP is forecast to grow by 4.5% in 2025 and 4.8% in 2026. These sectors may benefit from the indirect effects of stronger hydrocarbon growth, including increased investment, higher government spending, and improved economic confidence. In the first quarter, UAE GDP advanced 3.9% year-on-year, driven by non-hydrocarbon growth of 5.3%. The manufacturing, financial services, construction, and real estate sectors led this expansion.
Reprinted from tradingeconomics，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now