Dubai's gross domestic product hit Dh232 billion ($63.2 billion) in the first quarter of 2026, anchored by a well-balanced economy reflecting the emirate's diversification efforts amid the challenges presented by the US-Iran war.
GDP in the three months ended March rose by 2.4 per cent year-on-year, the Government of Dubai Media Office said in a statement on Wednesday. The conflict between Washington and Tehran began on February 28.
Wholesale and retail remained the highest contributor, adding 2.6 per cent annually to reach nearly Dh51 billion, equivalent to 22 per cent of the economy, while financial and insurance grew 6.5 per cent to hit Dh32.4 billion, representing 14 per cent of GDP, the GDMO said.
Real estate climbed 3.1 per cent to generate Dh26 billion, more than 11 per cent of GDP.
Health and social work activities posted the highest growth rate at 17.5 per cent at a value of Dh3.6 billion, followed by electricity, gas and water, and construction, adding 8.4 per cent to hit Dh4.3 billion, the GDMO said.
Information and communications climbed 2.7 per cent to Dh12.1 billion, while administrative and support services grew 3.6 per cent to Dh10.5 billion.
“Dubai’s economic growth continues to be anchored in visionary leadership, proactive strategic planning, and a deep-rooted resilience across our key sectors,” said Helal Almarri, director general of the Dubai Department of Economy and Tourism.
“Dubai’s growth narrative is defined by a commitment to long-term objectives and successive quarters of strong performance are not coincidental – they are the product of deliberate policy, structural depth, and an economy built to perform regardless of external conditions.”
