AJMAN: Preliminary estimates of Ajman’s Gross Domestic Product (GDP) for the year 2023, issued by the Ajman Statistics Centre, reveal the emirate’s robust economic performance and positive growth rates.

The emirate achieved a GDP at current prices exceeding AED36 billion, compared to AED33.9 billion in the previous year, reflecting a growth rate of 6.25 percent.

At constant prices, the GDP reached approximately AED32 billion, compared to AED30.5 billion in 2022, with a growth rate of 4.7 percent.

In this context, Dr. Hajar Saeed Al-Hubaishi, Executive Director of Ajman Statistics Centre, said that the preliminary estimates of the gross domestic product for the Emirate of Ajman for the year 2023 show a notable improvement in economic performance and demonstrate the improvement in efforts to promote sustainable development.

She also said that the growth confirmed the emirate’s ability to overcome economic challenges and enhance its position at the local and international levels.

The results indicated that
the manufacturing industries, wholesale and retail trade, vehicle repair, and construction sectors are prioritised in leading the economic locomotive and contributing to the GDP at current prices in the Emirate of Ajman for the year 2023. The manufacturing industry contributed 18.80 percent to the GDP, followed by wholesale and retail trade and vehicle repair at 18.04 percent, while construction activity contributed 16.42 percent.

These activities also contributed significantly to the real GDP, with manufacturing accounting for 18.9 percent of GDP, while wholesale and retail trade and vehicle repair contributed 18.31 percent, and construction activities contributed 17.36 percent of GDP.

Source: Emirates News Agency