DSCD reveals 5.2% growth in Sharjah GDP, reaches Dhs136.9b

Staff Reporter, Gulf Today

The Department of Statistics and Community Development (DSCD) in Sharjah has announced  a significant upswing in the emirate’s economy, achieving remarkable economic growth in 2022. The preliminary estimates indicate that Sharjah’s GDP has grown by 5.2 per cent, reaching Dhs136.9 billion compared to Dhs130.1 billion in 2021.

This growth can be attributed to the diversity and integration of the emirate’s sectors, which align with Sharjah’s development strategy and plans. The non-oil sector has reported a 5.2 percent increase, bringing the total to Dhs 133.4 billion in 2022 compared to Dhs126.8 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, according to internationally recognized methodologies and classifications. The results reflect the economic indicators of activities and economic sectors in the emirate for 2022.

Sheikh Mohammed Bin Humaid Al Qasimi, Chairman of Sharjah Department of Statistics and Community Development, commented on the announcement, saying “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.”

He stressed the importance of providing accurate and reliable data and statistics on Sharjah’s economic and social reality to support decision-making, planning, and development in various fields. “The department seeks to achieve sustainable and comprehensive development in the emirate in line with the vision of His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.”

The preliminary estimates also 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” achieved the highest growth in the emirate’s GDP, reaching Dhs 32.9 billion, followed by “manufacturing”, which reached Dhs 22.9 billion. “accommodation and food service activities” had the highest growth rate, reaching 18 percent, attributed to the increasing demand for these services as the health and tourism realities 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%, which conveys an improvement in the efficiency of consumption and production of these resources. While the “wholesale and retail trade; repair of motor vehicles and motorcycles” recorded a growth rate of 5.7%, 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 initial results 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.

It’s worth noting that 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.

DSCD is the official and only reference for data and statistical information in Sharjah. The department is responsible for implementing all statistical work, technical supervision of the statistical sector, designing and implementing field surveys, conducting statistical studies and research, analysing data and information, and all documentation and preservation of statistical information.

Real estate, construction, and public administration, defence, and mandatory social security secure the third, fourth, and fifth positions respectively in contribution to GDP.

Wholesale and retail, and manufacturing sectors collectively contribute with Dhs 56 billion.

Growth of economic sectors is attributed to the emirate’s competitive capabilities and attracting innovative investments and projects.