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Dubai GDP Distribution by Economic Activities 2019 (%)
Dubai’s contribution to GDP in 2019 stood at $118 billion, contributing 28% to UAE’s GDP which stood at US $417 billion.
Dubai did experience a 10.8% contraction in GDP from $118 billion in 2019 to $105 billion in 2020 due to the impact of Covid’19, which predominantly impacted the hospitality, tourism, and retail sectors.
The economy is diversified away from oil for the simple fact that Dubai has very little oil. Over half of Dubai’s GDP is dominated by trade, logistics, financial and manufacturing activities.
SME’s were majorly impacted due to the pandemic, however Dubai has consistently shown signs of rebound, as GDP grew 6.3% in the first nine months of 2021, on the back of favorable government policies and supportive fiscal measures, which included new legislation and amendments to the investment and residence laws in the UAE – stimulating strong flows of local and foreign investment.
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