Sharjah’s non-oil economy grew 7.1% y-o-y in 2033

Sharjah’s non-oil economy grew 7.1% y-o-y to AED 142.5 bn in 2023, state news agency Wam reports, citing data from Sharjah’s Department of Statistics and Community Development. Real GDP grew 6.5% y-o-y, reaching AED 145.2 bn in 2023.

The stars of the show: The wholesale and retail trade, manufacturing, and construction sectors, collectively accounted for AED 72.5 bn of overall GDP.

Wholesale and retail trade and manufacturing took the lead: Wholesale and retail trade accounted for 24% of the emirate’s GDP, equivalent to AED 34.8 bn, making it the largest non-oil contributor to the economy. Manufacturing activities hit AED 24.3 bn, registering 7.6% y-o-y growth and contributing 16.7% of GDP.