The United Arab Emirates’ GDP is expected to grow by 4.1% in 2025: World Bank

 

The World Bank’s latest MENA Economic Update, released on Wednesday, projects the UAE’s GDP to grow by 3.3% in 2024, increasing to 4.1% in 2025.

Titled “Growth in the Middle East and North Africa,” the report highlights that the UAE will lead the region in real GDP per capita growth, with rates expected to reach 2.5% in 2024 and 3.4% in 2025. This growth is driven primarily by strong performance in the non-oil sector.

The report also predicts a decline in the UAE’s current account surplus, from 9.2% of GDP in 2023 to 7.5% in 2024, despite ongoing diversification efforts. However, the UAE is anticipated to maintain fiscal surpluses of 4.9% of GDP in 2024 and 4.7% in 2025.

Regionally, the MENA economy is expected to grow by 3.8% in 2025. Growth in GCC countries is forecast to rise to 4.2% in 2025, up from 1.9% in 2024. Developing oil exporters are projected to grow by 2.7% in 2024, while developing oil importers will see a slower growth rate of 2.1%.

Overall, the region’s GDP growth is expected to increase modestly to 2.2% in 2024, up from 1.8% in 2023. This improvement is driven by GCC countries, with growth anticipated to rise from 0.5% in 2023 to 1.9% in 2024 and 4.2% in 2025. In contrast, growth in non-GCC oil importers and exporters is expected to slow during this period.

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