UAE’s GDP grew by 7.9% in 2022, says economy minister

UAE’s GDP grew by 7.9% in 2022, says economy minister

Local News, Uncategorized















DUBAI / WAM

Abdullah bin Touq Al Marri, Minister of Economy, said that the preliminary estimates of the UAE’s gross domestic product (GDP) for 2022, issued by the Federal Competitiveness and Statistics Centre, reaffirm the robustness of the country’s economic performance and its achievement of positive growth rates that

exceeded estimates.

The UAE’s GDP in 2022 at constant prices totalled AED1.62 trillion, achieving a positive growth of 7.9 percent, while totalling AED1.86 trillion at current prices, an increase of more than AED337 billion compared to 2021, achieving a growth of 22.1 percent.

Al Marri said, “The government of the UAE is working, thanks to the forward-looking visions of its wise leadership, led by President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to build an innovative economic model that serves its future vision, by adopting flexible economic policies that rely on speed and accuracy in responding to global changes, adopting stimulating economic strategies, and forward-looking economic plans based on economic diversification, and improving economic procedures and legislation.”

“This