Dubai’s H1 2026 GDP Reaches AED473 Billion as Financial Sector Grows 8.8%

Dubai’s real gross domestic product (GDP) reached approximately AED473 billion in the first half of 2026, marking a 2.3% decline from AED484 billion during the same period in 2025, according to figures released by the Dubai Data and Statistics Establishment at Digital Dubai.

GDP at current prices reached approximately AED505 billion, representing a 0.2% increase year-on-year. Despite the overall contraction in real GDP, several sectors recorded positive growth, including financial and insurance activities, healthcare, information and communication, and construction.

Financial and insurance activities recorded 8.8% real growth, with value added reaching AED65.9 billion, compared with AED60.6 billion in H1 2025. The sector’s contribution to real GDP increased to 14%, up from 12.5% a year earlier. At current prices, the sector grew by 8.1%, generating AED64 billion in value added.

Human health and social work activities recorded the highest growth among the sectors highlighted, expanding by 14.3% in real terms, with value added reaching approximately AED6.2 billion. At current prices, the sector grew by 16.7%.

The information and communication sector expanded by 2.7% at constant prices, generating AED24.7 billion in real value added, compared with approximately AED24 billion in the corresponding period of 2025. At current prices, the sector grew by 1.6%.

Construction recorded 2.4% real growth, with value added reaching AED33.2 billion. At current prices, construction grew by 8.6%, generating AED35.3 billion.

Electricity, gas, water supply and waste management activities grew by 5.4% in real terms, while government services expanded by 2.9% and education by 1.2%.

H.E. Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, said: “Dubai’s H1 2026 GDP performance reflects the strength and adaptability of an economy built to navigate periods of significant global uncertainty. Importantly, the continued year-on-year growth achieved across a number of strategic and future-focused sectors demonstrates the strength and depth of Dubai’s economic fundamentals and the effectiveness of our continued focus on the sectors that will shape our long-term growth.

“We enter the second half of 2026 from a position of strength and with clear momentum. As we continue advancing the objectives of the Dubai Economic Agenda, D33, our focus is firmly on accelerating investment, innovation and talent, strengthening Dubai’s competitiveness and unlocking the next wave of growth. We are confident that the foundations being built today will enable Dubai to emerge from this period with even greater momentum and continue its trajectory of sustainable growth well into the future.”

The figures showed that wholesale and retail trade remained Dubai’s largest economic activity, contributing 20.5% to real GDP, followed by financial and insurance activities at 14%, real estate at 11.8%, and transportation and storage at 10.7%.

However, wholesale and retail trade contracted by 6% in real terms, with value added reaching AED96.9 billion, despite recording 2% growth at current prices. The decline in real activity was attributed partly to higher inflation, while foreign trade increased by 4% compared with the same period in 2025.

Transportation and storage generated AED50.6 billion in value added, representing a 7.4% decline.

Meanwhile, real estate recorded a 5.4% increase in value added at current prices to AED65.1 billion, compared with AED61.8 billion in H1 2025. At constant prices, the sector contracted by 2.5%, with real value added reaching AED55.8 billion.

Manufacturing recorded a 0.5% increase in value added at current prices to AED24.1 billion. However, at constant prices, the sector declined by 0.9%, with real value added reaching AED23.7 billion.

Hamad Obaid Al Mansoori, Director General of Digital Dubai, said: “Diversity and the breadth of the sectoral base are among the key strengths of Dubai’s economy, which is reflected in the continued growth of a range of strategic sectors during H1 2026, amid the transformations taking place in the global economic environment. This diversity is the outcome of a long-term vision that has guided investment in building new sectors, developing existing ones, and strengthening the economy’s capacity to adapt to different changes.”

Younus Al Nasser, Chief Executive of the Dubai Data and Statistics Establishment at Digital Dubai, said the results reflected varying performance across economic activities, highlighting the importance of assessing GDP figures alongside sectoral contributions and broader economic trends.

Hadi Badri, Chief Executive Officer of the Dubai Economic Development Corporation, the economic development arm of the Dubai Department of Economy and Tourism, said: “The H1 results demonstrate that appetite to invest, establish and grow in Dubai remains strong, particularly across sectors that are central to the city’s future economy. The 8.8% growth in financial and insurance activities, alongside continued expansion in information and communication, reinforces Dubai’s position as a platform for capital, enterprise and innovation, while growth across other high-value activities reflects the breadth and resilience of the wider economy.

“Our focus now is on converting this sustained confidence into further tangible growth. We are working closely with partners across the government and industry to continuously enhance the business journey, strengthen market access and deliver the infrastructure, talent and services companies needed to establish, invest and scale. The measures introduced over recent months have further strengthened Dubai’s operating environment and created a solid foundation for investment-led growth through the second half of 2026 and beyond.”

The results come as Dubai continues to advance the objectives of its Dubai Economic Agenda (D33), focusing on economic diversification, investment, talent development and the adoption of advanced technologies, including artificial intelligence, across key industries.