The UAE’s economy grew 3.4 per cent year-on-year in the first quarter of 2024 to reach $117.1bn (Dhs430bn), according to the Federal Competitiveness and Statistics Centre, with non-oil GDP growing 4 per cent YoY during the period under review. “The country adopted an innovative economic model that supports its future vision, along with effective national economic strategies, enhancing openness to the world, promoting partnerships, and transitioning towards an economic model based on flexibility and innovation,” Abdulla bin Touq Al Marri, the UAE Minister of Economy said in a statement. The preliminary data from the statistics authority shows that financial and insurance, trade activities and manufacturing were among the biggest contributors to non-oil GDP.