Abdullah bin Touq Al Marri, Minister of Economy, said that the financial technology (Fintech) sector continues to power growth, contributing 8.7 per cent to the UAE's Gross Domestic Product (GDP).
The Ministry of Industry and Advanced Technology (MoIAT) has announced its key achievements for 2023, topped by the sector's contribution to the country's GDP reaching a projected AED197 billion in 2023.
The UAE's GDP in 2022 at constant prices totalled AED1.62 trillion, achieving a positive growth of 7.9 per cent, while totalling AED1.86 trillion at current prices, an increase of more than AED337 billion compared to 2021, achieving a growth of 22.1 per cent.