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UAE's GDP Boosted by AED 197 Billion From the Industrial Sector

  • Publish date: Wednesday، 17 January 2024
UAE's GDP Boosted by AED 197 Billion From the Industrial Sector

In 2023, the UAE's industrial sector contributed an estimated AED 197 billion to the GDP, achieving 30% of the 'Operation 300 billion' target set in 2021.

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The Ministry of Industry and Advanced Technology (MoIAT) reported a 17% rise in industrial exports and a 7% growth in productivity.

The accomplishments were attributed to initiatives promoting a business-friendly environment, enhancing In-Country Value, accelerating technological transformation, and advocating sustainability.

Import substitution projects worth AED 9.3 billion were activated, and the UAE ranked first regionally and 29th globally in the Competitive Industrial Performance Index.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, highlighted these achievements in line with the 'Operation 300 Billion' goal to elevate the industrial sector's GDP contribution to AED 300 billion by 2031.

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