Sharjah: GDP grows by over 5%; top sectors revealed

Sharjah's GDP grew by 5.2 per cent, reaching Dh136.9 billion in 2022, compared to Dh130.1 billion in 2021. The Department of Statistics and Community Development (DSCD) announced the “significant upswing” in the emirate's economy, as per its preliminary estimates based on comprehensive economic survey results from 2017-2021.

The non-oil sector has reported a 5.2 per cent increase, bringing the total to Dh133.4 billion in 2022, compared to Dh126.8 billion in 2021.

The preliminary estimates factored in results from all independent bodies and the public sector.

Sheikh Mohammed bin Humaid Al Qasimi, Chairman of the DSCD, said: "The preliminary estimates for 2022 indicate a positive economic performance in the emirate. 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."

Which sectors performed well

The preliminary estimates revealed the most prominent economic activities that contributed to the growth of the emirate's GDP.

Wholesale and retail trade; repair of motor vehicles and motorcycles sector was the highest contributor, with Dh32.9 billion (24 per cent), followed by manufacturing, which contributed with Dh22.9 billion (16.7 per cent).

The real estate sector came third at 9.7 per cent. The construction sector contributed 9 per cent, while public administration, defence and compulsory social security ranked fifth with 7.5 per cent.

Accommodation and food services activities registered the highest growth rate at 18 per cent.

The electricity, gas, and water supply sector grew by 5.9 per cent.

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