The UAE’s non-oil private sector demonstrated remarkable resilience in September, registering its most significant expansion in seven months. The S&P Global UAE Purchasing Managers’ Index (PMI) climbed to 54.2, indicating a robust improvement in business conditions driven by strong domestic and export demand.
The latest economic data reveals a compelling narrative of the UAE’s economic diversification strategy. In September, the non-oil private sector showed remarkable strength, with the S&P Global PMI rising from 53.3 in August to 54.2, signaling a robust and accelerated business environment.
Key highlights of the economic performance include:
The non-oil economy continues to be a critical driver of UAE’s growth. In 2024, non-oil GDP rose by 5% to Dh1,342 billion, representing 75.5% of the country’s total output. The Central Bank of the UAE projects non-oil GDP growth of 4.5% in 2025, with the IMF anticipating the country’s real GDP to grow by 4.8% – significantly above the global average.
“The UAE’s non-oil business sector looks to be recovering from mid-year softness, and its role as the primary growth engine for the national economy appears more entrenched than ever,” noted economic analysts.
While challenges persist, such as competitive pressures and potential global economic headwinds, the September performance underscores the UAE’s economic resilience and strategic economic diversification.