Financial services, healthcare and construction posted growth, while trade, transport and real estate were lower in real terms.
Dubai’s economy recorded a real gross domestic product of about AED 473 billion in the first half of 2026, according to new figures from the Dubai Data and Statistics Establishment.
That is 2.3% lower than the roughly AED 484 billion recorded in the same period last year. At current prices, which include the effect of inflation, GDP rose 0.2% to about AED 505 billion.
Real GDP removes the effect of price changes, which makes it the standard measure for comparing economic output from one year to the next. The gap between the two figures this year reflects higher prices across several parts of the economy.
The figures show a mixed picture across the economy. Several strategic sectors continued to grow, led by financial services and healthcare, while some of Dubai’s largest sectors, including trade, transport and real estate, saw declines in real terms.
Financial and insurance activities stood out, growing 8.8% to about AED 65.9 billion, up from AED 60.6 billion a year earlier. The sector’s share of Dubai’s economy rose to 14%, compared with 12.5% in the first half of 2025. At current prices, it grew 8.1%.
Sectors Driving Dubai’s Economic Growth
Human health and social work posted the fastest growth of any sector, rising 14.3% in real terms to about AED 6.2 billion, up from around AED 5.4 billion. At current prices, the sector grew 16.7%.
Electricity, gas, water and waste management grew 5.4% to about AED 10.2 billion. Construction rose 2.4% to about AED 33.2 billion, and at current prices the sector grew 8.6% to AED 35.3 billion.
Information and communication grew 2.7% to about AED 24.7 billion. Government services were up 2.9%, and education grew 1.2%.
Wholesale and retail trade remains the largest part of Dubai’s economy, making up 20.5% of real GDP. Financial and insurance activities came second at 14%, followed by real estate at 11.8% and transportation and storage at 10.7%.
Where Dubai’s Economy Slowed in H1 2026
Wholesale and retail trade fell 6% in real terms to about AED 96.9 billion. At current prices, however, the sector grew 2%, and foreign trade rose 4%. The real decline was linked to higher inflation, Khaleej Times reported.
Transportation and storage dropped 7.4% to about AED 50.6 billion. Real estate was down 2.5% in real terms to about AED 55.8 billion, though it grew 5.4% at current prices to AED 65.1 billion. Manufacturing slipped 0.9% to about AED 23.7 billion, while rising 0.5% at current prices to AED 24.1 billion.
Officials said the results reflect the breadth of Dubai’s economic base.
Helal Saeed Almarri, Director General of Dubai’s Department of Economy and Tourism, credited “the strength and adaptability of an economy built to navigate” global uncertainty and said Dubai enters the second half of the year “from a position of strength.”
Younus Al Nasser, Chief Executive of the Dubai Data and Statistics Establishment, said the results show “a variation in the performance of economic activities.”
Hamad Obaid Al Mansoori, Director General of Digital Dubai, described “diversity and the breadth of the sectoral base” as key strengths of the economy. Hadi Badri, CEO of the Dubai Economic Development Corporation, said “the appetite to invest, establish and grow in Dubai remains strong.”
The figures come as Dubai continues to pursue the Dubai Economic Agenda, known as D33. Launched in January 2023, the agenda aims to double the size of the emirate’s economy by 2033 and place Dubai among the world’s top three urban economies. It also targets AED 32 trillion in total economic transactions over the decade.
Financial services, healthcare, technology and construction are among the sectors identified as priorities under the plan, several of which recorded growth in the first half of this year.
