ALBAWABA – The gross domestic product (GDP) of the United Arab Emirates (UAE) grew by 7.9 percent in 2022, compared to 2021, placing UAE GDP at AED1.62 trillion ($440 billion) at fixed prices by the end of 2022, Asharq Al-Awsat newspaper reported Monday.
At current prices, UAE GDP totalled AED1.86 trillion ($506 billion) in 2022, up more than AED337 billion ($91.77 billion) from 2021, approximately 22.1 percent.
UAE GDP per capita “has grown during the past six years by an unprecedented rate of 24.7 percent despite the annual increase in the population,” Hanan Ahli, Director of the UAE’s Federal Competitiveness and Statistics Center, said.
Meanwhile, “2022 GDP per capita grew by 21.1 percent compared to 2021,” she added.
“The government of the UAE is working, thanks to the forward-looking visions of its wise leadership, to build an innovative economic model that serves its future vision,” said Economy Minister Abdullah bin Touq Al Marri.
Non-oil GDP at constant prices reached AED1.174 trillion ($319.7 billion) in 2022, according to Asharq Al-Awsat.
Innovative economic initiatives related to non-oil sectors and activities contributed positively to enhancing the growth of the UAE’s GDP during 2022, the newspaper explained.
