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Dubai s GDP grows 2 8% in Q1 2023 to reach Dhs111 3bn

Dubai s economy maintains momentum, GDP rises 2 8% in Q1 to cross $30 billion

Dubai s Q1 gross domestic product (GDP) rose by 2.8% YoY to AED 111.3bn ($30.3bn), propelled by a 48% growth in the transportation and storage sector, according to figures released on Tuesday. The financial and insurance sector and trade followed as the next largest contributors at 15% and 10% respectively. The growth comes as the city hopes to double the size of its economy over the next decade under its D33 plan to become a major global financial hub.

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