Dubai H1 2026 GDP Reaches AED 473 Billion, Financial Services Lead Growth

Dubai's economy recorded a real Gross Domestic Product (GDP) of AED 473 billion (US$129 billion) in the first half of 2026, according to data released by the Dubai Data and Statistics Establishment at Digital Dubai. This figure marks a 2.3% year-on-year decline from the first half of 2025's AED 484 billion, though GDP at current prices increased by 0.2% to approximately AED 505 billion.

Sectoral Performance Highlights

The financial and insurance activities sector was a significant growth driver, achieving an 8.8% real growth rate. Its value added increased to AED 65.9 billion from AED 60.6 billion, now accounting for 14% of Dubai's real GDP, up from 12.5% in the previous year. Human health and social work activities showed the strongest expansion, growing by 14.3% in real terms, with value added rising to AED 6.2 billion.

Other sectors contributing to growth included:

• Information and communication: 2.7% real growth, reaching AED 24.7 billion in value added.
• Construction: 2.4% expansion, generating AED 33.2 billion in value added.
• Electricity, gas, water supply, and waste management: 5.4% real growth.
• Government services: 2.9% growth.
• Education: 1.2% expansion.

Mixed Results for Major Economic Activities

While several strategic sectors expanded, some of Dubai's largest economic activities experienced real-term contractions:

• Wholesale and retail trade: Accounted for the largest share of real GDP at 20.5% but declined by 6% in real terms, with value added at AED 96.9 billion. However, at current prices, the sector grew 2%, and Dubai's foreign trade increased 4% year-on-year.
• Transportation and storage: Declined by 7.4% compared to H1 2025, generating AED 50.6 billion in value added.
• Real estate: Contracted by 2.5% in real terms, with value added at constant prices reaching AED 55.8 billion. At current prices, the sector's value added increased by 5.4% to AED 65.1 billion.
• Manufacturing also saw a slight real decline of 0.9%, with value added at AED 23.7 billion.

Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, noted that these results underscore the economy's adaptability amidst global uncertainties, with strategic sector growth supporting long-term development under the Dubai Economic Agenda (D33). Digital transformation and AI were highlighted as key drivers for future competitiveness by Hamad Obaid Al Mansoori, Director General of Digital Dubai.