Dubai’s gross home product hit Dh232 billion ($63.2 billion) within the first quarter of 2026, anchored by means of a well-balanced economic system reflecting the emirate’s diversification efforts in spite of financial demanding situations due to the US-Iran battle.
GDP within the 3 months ended March rose by means of 2.4 in keeping with cent year-on-year, the Govt of Dubai Media Administrative center mentioned in a observation on Wednesday. America and Israel introduced moves in opposition to Iran on February 28, main Tehran to retaliate in opposition to its Gulf neighbours and imposing a four-month blockade at the Strait of Hormuz, which is essential to power provides.
Wholesale and retail remained the absolute best contributor, including 2.6 in keeping with cent yearly to achieve just about Dh51 billion, identical to 22 in keeping with cent of the economic system, whilst monetary and insurance coverage grew 6.5 in keeping with cent to hit Dh32.4 billion, representing 14 in keeping with cent of GDP, the GDMO mentioned.
Actual property climbed 3.1 in keeping with cent to generate Dh26 billion, greater than 11 in keeping with cent of GDP.
Well being and social paintings actions posted the absolute best expansion price at 17.5 in keeping with cent at a worth of Dh3.6 billion, adopted by means of electrical energy, fuel and water, and development, including 8.4 in keeping with cent to hit Dh4.3 billion, the GDMO mentioned.
Data and communications climbed 2.7 in keeping with cent to Dh12.1 billion, whilst administrative and make stronger products and services grew 3.6 in keeping with cent to Dh10.5 billion.
“Dubai’s economic growth continues to be anchored in visionary leadership, proactive strategic planning, and a deep-rooted resilience across our key sectors,” mentioned Helal Almarri, director common of the Dubai Division of Economic system and Tourism.
“Dubai’s growth narrative is defined by a commitment to long-term objectives and successive quarters of strong performance are not coincidental – they are the product of deliberate policy, structural depth, and an economy built to perform regardless of external conditions.”
Dubai, a very important industrial and monetary centre within the Heart East, has maintained the energy of its economic system on a number of govt programmes designed for diversification and long-term expansion.
The emirate has in large part resisted the stoop predicted by means of some analysts, particularly below the cases offered by means of the fallout of the US-Iran battle.
Dubai’s expansion could also be in step with the wider efforts of the UAE govt, which continues to inspire entrepreneurship and financial participation, and draw in extra investments.
International direct funding into the UAE rose by means of about 6 in keeping with cent to achieve $48.24 billion in 2025, the ninth-highest general on this planet, the UN Convention on Industry and Building mentioned in a file on Wednesday.
‘Etihad Rail reinforces UAE’s world hub standing’
On Wednesday, the IMF minimize its 2026 expansion forecast for the Heart East to 0.7 in keeping with cent, a 1.2 share level downgrade from April, mentioning the fallout from the Strait of Hormuz closure on regional power exports.
In Might, the scores company Fitch retained its long-term issuer default score of AA- for the UAE, mentioning that oil export earnings, because of upper crude costs, is anticipated to stay sturdy in spite of the warfare and is to offset any instant unfavorable affect.
“Despite global and regional challenges, the UAE’s economy continues to thrive, proving its remarkable resilience and stability,” Saeed Al Hajeri, Minister of State on the UAE Ministry of International Affairs.
“Our economic strength stems from historically solid fundamentals, global connectivity, institutional depth and an ability to be agile in response to changing market forces. This powerful combination of factors will allow us to emerge even stronger from current geopolitical dynamics.”
Dubai’s non-oil personal sector economic system additionally grew in June, as companies raised output, with the velocity of enlargement choosing as much as the quickest price since March, the seasonally adjusted S&P International UAE Buying Managers’ Index confirmed.
“Dubai continues to strengthen its economic ecosystem and enhance its business environment by investing in key enablers that drive growth, foster productivity and create new opportunities,” mentioned Hamad Al Mansoori, director common of Virtual Dubai.
“These efforts will contribute to achieving further economic milestones in the future and reinforce Dubai’s position as a global hub for business, investment and talent.”
