UAE's economy saw an increase of 8.2% in Q1 due to higher oil production

Posted on August 1, 2022   |  

• In 2022, the country's real gross domestic product (GDP) is likely to grow by 5.4% and 4.2% next year due to higher oil production and a government commitment to double the manufacturing sector's size by 2031.
• The non-oil GDP grew by 6.1% in Q1 and is continuously growing by 4.3% in 2022 and 3.9% in 2023.
• In the same period, the average residential property prices in Dubai grew by 11.3%.