Sharjah’s GDP surged 6.5%, reaching Dh145.2 billion in 2023

Sharjah’s GDP surged 6.5%, reaching Dh145.2 billion in 2023

Non-oil sectors reached Dh142.5 billion in 2023, up from Dh133.1 billion in 2022, marking a 7.1 per cent increase.

The 'wholesale, retail trade, repair of motor vehicles and motorcycles', 'manufacturing', and 'construction' sectors collectively contributed Dh72.5 billion.

In 2023, the 'wholesale, retail trade, repair of motor vehicles and motorcycles' sector drove 24 per cent or Dh34.8 billion of the total GDP, while the 'manufacturing' sector contributed 16.7 per cent or Dh24.3 billion.

Notably, the 'agriculture, forestry, and fishing' sector recorded the highest growth rate at 19.1 per cent, followed by the 'accommodation and food services' sector at 17.5 per cent and the 'financial and insurance' sector at 12.3 per cent. The 'electricity, gas, water supply, and waste management' sector also showed a solid growth of 7.8 per cent.

Other sectors such as 'construction', 'manufacturing', and 'human health and social work' also registered positive growth rates of 7.7 per cent, 7.6 per cent, and 7.1 per cent, respectively.

Sheikh Mohammed bin Humaid Al Qasimi, Chairman of DSCD, said: "The results showcase a strategic transformation in Sharjah's economic landscape, hastening the drive towards diversification and reliance on non-oil sectors, which are fundamental pillars for a more sustainable and thriving economy."

The Chairman