UAE - Mubasher: The real gross domestic product (GDP) of the UAE increased by 7.9% year-on-year (YoY) in 2022, the Emirates News Agency (WAM) reported.
Based on the preliminary estimates issued by the Federal Competitiveness and Statistics Centre (FCSC), the GDP in 2022 hit AED 1.62 trillion at constant prices. As for the current prices, the GDP stood at AED 1.86 trillion last year, higher by over AED 337 billion when compared to 2021.
Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, highlighted that the results reflect the country’s powerful economic performance and its achievement of positive growth rates that exceeded estimates.
Al Marri said: "This maintains the country's position as an environment that attracts investments on an ongoing basis, and promotes foreign trade and openness as one of the components of international economic relations.”
Meanwhile, Hanan Ahli, Director of FCSC, noted: “The UAE's GDP per capita has grown during the past six years by an unprecedented rate of 24.7% despite the annual increase in the population, while the 2022 GDP per capita grew by 21.1% compared to 2021.”
Last year, the Central Bank of the UAE (CBUAE) projected that the country’s GDP will rise to 4.2% in 2023.
