Financial and insurance activities emerged as the standout performer of the UAE’s economy at the start of 2026, expanding 17.3% against the same stretch a year earlier and contributing 2.44 percentage points to overall growth—the single largest addition of any sector.
That surge helped push real GDP up 3% year over year in the first quarter, bringing output to AED485 billion at constant prices, according to the Federal Competitiveness and Statistics Center. Officials pointed to the result as evidence that the country continues to weather regional pressures without derailing its broader growth path.
Non-oil industries carried much of the load. Activity outside the energy sector rose 4.8% compared with a year earlier, lifting the non-oil share of the national economy to 79.4%—a signal, according to the government, of steady progress in reducing reliance on hydrocarbons.
Growth was spread across several fields. Construction advanced 8.1%, while human health and social work climbed 7.7%. Information and communication rose 5.9%. Professional, scientific, and technical work, grouped with administrative and support services, gained 4.9%, matching real estate’s 4.8% increase. Public administration, defense, and compulsory social security added 4.5%, and wholesale and retail trade moved up 2.6%.
Beyond finance, the sectors that fed most directly into the quarter’s expansion were construction, which supplied 1.04 percentage points, followed by wholesale and retail trade at 0.42, real estate at 0.36, and the combined professional and administrative category at 0.29.
Minister of Economy and Tourism Abdulla bin Touq Al Marri framed the numbers as proof of a resilient economy capable of holding its footing through global and regional uncertainty.
Minister of Cabinet Affairs Mohammad bin Abdullah Al Gergawi tied the performance to the country’s longer development plan, singling out finance, trade, and information and communications technology as sectors whose expanding role reflects the strategy taking hold.
