UAE Launches National Programme to Modernize Statistics System

Sheikh Mohammed bin Rashid Al Maktoum has approved a national programme aimed at modernizing the UAE's statistics system. This initiative is designed to enhance the quality and reliability of economic data, reflecting the rapid transformation of the UAE economy. The programme will adopt 2024 as the unified base year for national accounts, which is crucial for accurate economic assessments.

The initiative specifically addresses the need for improved accuracy and transparency of economic indicators in response to structural changes in the UAE economy, particularly in non-oil sectors. By overhauling its statistics system, the UAE seeks to support informed decision-making and bolster its competitiveness on a global scale.

The programme is led by the Federal Competitiveness and Statistics Centre and involves collaboration with various federal entities and local statistics centres. This strategic initiative is timely, given the ongoing transformation of the UAE's economy, which has seen significant growth in non-oil sectors. The comprehensive review of GDP and the establishment of a national statistical data platform are key components of this effort.

As the UAE continues to diversify its economy, the modernization of its statistics system becomes increasingly important. Accurate and reliable data will not only enhance economic decision-making but also strengthen the UAE's position as a hub for investment and innovation.

The modernization of the statistics system is expected to enhance economic decision-making and attract more investment. As the UAE implements this programme, stakeholders will be keen to observe its progress and the impact on investor confidence. The focus on a unified base year and improved data sources will provide a clearer understanding of the economic landscape.

Future developments will likely include updates on the implementation progress of the national programme and its effects on economic planning. This initiative represents a pivotal moment for the UAE as it seeks to reinforce its status as a leading global economy.