Sharjah, UAE – Sharjah’s GDP has grown by 5.2 percen to AED 136.9 billion ($37.05 billion) compared to AED 130.1 billion ($35.13 billion) in 2021.
The non-oil sector has reported a 5.2 percent increase, bringing the total to AED 133.4 billion (36.08 billion) in 2022 compared to AED 126.8 billion ($34.28 billion) in 2021.
The preliminary estimates were based on comprehensive economic survey results from 2017-2021, which included all independent bodies and the public sector.
“The preliminary estimates for 2022 indicate a positive economic performance in the emirate,” Sheikh Mohammed bin Humaid Al Qasimi, Chairman of Sharjah Department of Statistics and Community Development said. “The economic diversification of the emirate has been a driving force behind the growth that we are currently witnessing, which aligns with the emirate’s development plans.”
The preliminary estimates also revealed the most prominent economic activities that contributed to the growth of the emirate’s GDP.
‘Wholesale and retail traderepair of motor vehicles and motorcycles’ achieved the highest growth in the emirate’s GDP, reaching AED 32.9 billion ($8.89 billion), followed by ‘manufacturing’, which reached AED 22.9 billion ($ 6.20 billion).
Similarly, ‘accommodation and food service activities’ had the highest growth rate, reaching 18 percent, which is attributed to the increasing demand for these services as ‘health and tourism’ improved.
The report also highlighted the growth of other economic sectors, including “Human Health and Social Work activities”, which registered a 7.9 percent annual increase in GDP, indicating Sharjah’s efforts in providing high-quality health and social services to the community.
The “public administration and defence; compulsory social security” registered a growth rate of 6.6 percent, indicating efficiency and effectiveness in managing government resources and services.
The “agriculture, forestry, and fishing ” grew by 6 percent, highlighting the emirate’s role in diversifying its income sources through initiatives that elevate its agricultural sector.
The “electricity, gas, and water supply; waste management activities” sector grew by 5.9 percent, which conveys an improvement in the efficiency of consumption and production of these resources.
The “wholesale and retail trade; repair of motor vehicles and motorcycles” recorded a growth rate of 5.7 percent, which reflects the acceleration of commercial activity in the various cities and regions of the emirate, and the development of its industrial areas.
In terms of the highest contribution to Sharjah’s GDP, the economic survey revealed that “wholesale and retail trade; repair of motor vehicles and motorcycles” topped the list in 2022, registering 24 percent, which reflects the sector’s role in stimulating the local economy.
The “manufacturing” activities came in second place with 16.7 percent, indicating the development and diversity of this sector and its ability to compete.
The “real estate” activities ranked third with 9.7 percent, highlighting the sector’s role in providing investment opportunities and exceptional services in the emirate.
The “construction” sector contributed 9 percent of the emirate’s total GDP, reflecting the role of this sector in achieving urban development and infrastructure in the emirate.
The “public administration and defence, compulsory social security” ranked fifth with 7.5 percent, indicating the role of this sector in providing high-quality government services to citizens and residents.