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UAE's economy to grow by over 6% due to increased domestic activity and oil prices

UAE's economy to grow by over 6% due to increased domestic activity and oil prices

Posted on November 28, 2022   |  

  • In 2022, overall, the UAE’s gross domestic product (GDP) growth will surpass 6%, up from 3.8% in 2021, while inflation is likely to average just above 5%.
  • In 2023, the non-hydrocarbon sector is expected to grow by 4% and “accelerate” over the medium term due to the government’s ongoing reforms. 
  • The growth has been led by a strong recovery in tourism, construction, activity related to the Dubai World Expo, and higher oil production. 



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