The World Bank's latest Middle East and North Africa report projects UAE GDP growth at 3.3% in 2024, climbing to 4.1% in 2025 — placing the UAE among the region's fastest-growing economies. The report, titled Growth in Middle East and North Africa, highlights strong overall expansion in the UAE alongside a narrowing current account surplus and encouraging non-oil sector performance.
UAE Leads MENA on Real Per-Capita GDP Growth
Among all countries in the region, the UAE is expected to record the highest real GDP per capita growth — estimated at 2.5% in 2024, rising to 3.4% in 2025. These figures reflect the country's sustained push to diversify its economy beyond oil revenues, with financial services, tourism, construction, and trade all contributing to the broader expansion.
Current Account and Fiscal Outlook
Despite the strong growth headline, the UAE's current account balance is forecast to narrow, declining from 9.2% of GDP in 2023 to 7.5% of GDP in 2024. On the fiscal side, the outlook remains stable: estimated surpluses are projected to average 4.9% of GDP in FY 2024 and 4.7% in FY 2025, reflecting prudent government finances even as public investment continues.
MENA and GCC Growth Context
The broader MENA region is expected to see aggregate GDP growth rise from 1.8% in 2023 to 2.2% in 2024. GCC nations as a group are projected to accelerate further, reaching 4.2% growth in 2025. However, growth among developing oil exporters and oil importers elsewhere in the region is expected to slow, reflecting divergent economic recovery paths across the Middle East and North Africa.
