Ajman’s GDP to Grow 6.25% to AED 36 billion by 2023

The preliminary estimates of the gross domestic product (GDP) for the Emirate of Ajman in 2023, released by the Ajman Statistics Center on Sunday, illustrate the robust economic performance and positive growth rates achieved by the Emirate. The GDP at current prices exceeded 36 billion dirhams, a growth of 6.25% from 2022 when it was 33.9 billion dirhams. At constant prices, the GDP was around 32 billion dirhams, up from 30.5 billion dirhams in 2022, representing a growth rate of 4.7%.

Dr. Hajar Saeed Al Hubaishi, the Executive Director of the Ajman Statistics Center, noted that the initial estimates for 2023 indicate a significant enhancement in economic performance, showing progress in sustainable development efforts. This growth highlights the Emirate’s resilience in overcoming economic challenges and improving its position both locally and internationally.

The results revealed that sectors like manufacturing, wholesale and retail trade, vehicle repair, and construction were key drivers of the economy. These sectors played a critical role in contributing to the GDP, with manufacturing contributing 18.80%, followed by wholesale and retail trade and vehicle repair with 18.04%, and construction activity with 16.42%. These sectors also made significant contributions to the real GDP, with manufacturing contributing 18.9%, while wholesale and retail trade and vehicle repair contributed 18.31%, and construction activities contributed 17.36%.