Industrial sector contributes AED 197 billion to UAE GDP

The industrial sector contributed an estimated AED 197 billion to the UAE's GDP in 2023.

That's according to the Ministry of Industry and Advanced Technology (MoIAT), which said the UAE has achieved 30 per cent of the target of 'Operation 300 billion', since its launch in 2021.

There has also been an 17 per cent increase in industrial exports, with the sector recording a seven per cent growth in productivity.

The ministry said its achievements were driven by four main pillars: providing a business-friendly environment; boosting In-Country Value in the industrial sector; accelerating technological transformation to support productivity and competitiveness; and promoting sustainability.

"The ministry also activated import substitution projects worth AED 9.3 billion. In 2023, the UAE ranked first regionally and 29th globally in the Competitive Industrial Performance Index, released by the United Nations Industrial Development Organization (UNIDO)," said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology.

The UAE's 'Operation 300 billion' is focused on raising the industrial sector’s contribution to the GDP to AED 300 billion by 2031.

#MoIAT takes futuristic strides towards shaping a stronger and more dynamic #UAE economy. #Watch this video to explore an overview of our achievements in 2023, aiming towards enhanced industrial growth and increased local and global competitiveness #MakeItInTheEmirates 🇦🇪 pic.twitter.com/TjWRaI67gi

— وزارة الصناعة والتكنولوجيا المتقدمة (@MoIATUAE) January 17, 2024