Ajman’s GDP Surges to AED 36 Billion in 2023

Quick analysis of the GDP of Ajman from the Ajman Statistics Centre suggests that, Ajman has recorded an impressive GDP for the year 2023. The nominal GDP for the Emirate of Abu Dhabi was $ 36. 27 billion in the year 2003/2004, it was $ 33. 9 billion in the year 2002/2003 meaning a growth rate of 6. 25 percent.

At constant prices, the GDP stood at around AED 32 billion, while in 2022 it was AED 30. 5 billion, therefore implying a GDP growth rate of 4. 7 percent.

According to Dr Hajar Saeed Al Hubaishi, Executive Director, Ajman Statistics Centre, the advance estimated GDP of Ajman for 2023 shows rather decent impulses in economy & provide glimpse of Ajman’s organisational commitment to sustainable development. She said that such growth implies the ability of Ajman to achieving its economic problems and improving its position in the local as well as in the global market.

It was obtained from the data analysis that manufacturing industries, the wholesale and retail trade, vehicle repair industries, and construction industries were most relevant for economic development. The industrial sector involved in Manufacturing contributed 18. 80% of GDP at current price in 2023, followed by the Wholesale & Retail trade, vehicle repair that contributed 18. 04% and Construction activities that contributed 16. 42% of GDP.

They also helped boost the real GDP: manufacturing incudes 18. 9%, wholesale and retail trade and vehicle repair 18. 31%, and construction activities 17. 36%.

Such positive economic performance as showcased by Ajman underlines the emirate’s steady pursuit of the sustainable development of economic diversification in the regional and global markets.