The UAE economy achieved positive growth of 7.9 percent in 2022, with the country’s GDP in 2022 at constant prices reaching AED 1.62 trillion ($440 billion).
The official WAM news agency quoted UAE Minister of Economy Abdullah bin Touq Al Marri as saying that the preliminary estimates of the UAE’s GDP for the year 2022, issued by the Federal Competitiveness and Statistics Center, confirm the strength of the country’s economic performance, and its achievement of positive growth rates that exceeded the estimates of analysts and specialized international institutions.
He added, “The country’s GDP in 2022 at constant prices reached AED 1.62 trillion, achieving a positive growth of 7.9 percent, while at current prices it reached AED 1.86 trillion, an increase of more than AED 337 billion over 2021, achieving a growth of 22.1 percent, which reflects the wisdom of the economic policies pursued by the UAE government, and confirms the strength and firmness of the UAE economy in light of the economic conditions and geopolitical repercussions the world is going through.”
Read: Positive growth outlook to sustain continued progress of UAE economy
Her Excellency Hanan Mansour Ahli, Director of the Federal Competitiveness and Statistics Center, said that the results and figures achieved confirm that the country’s economy continues to grow, both at the general level and at the level of key economic sectors and activities, which contributes to strengthening the policy of economic diversification by increasing the relative importance of non-oil activities in the national economy.
She added: “Over the past six years, the per capita GDP in the UAE has grown by an unprecedented 24.7 percent despite the annual increase in the population, while the per capita GDP in 2022 grew by 21.1 percent compared to 2021, which confirms the firmness and durability of the UAE economy, and the success of the economic policies pursued by the government in achieving prosperity and quality of life in the UAE society.”
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