The GDP growth of the Emirate of Sharjah to 97.5 billion in 2018

Media in \Sharjah 29-04-2019
The GDP of the emirate of Sharjah grew by 97.5 billion in 2018, according to the analytical report on the results of the economic activities of the Emirate of Sharjah in 2018 issued by the Department of Economic Development. Non-oil GDP reached about 89 billion dirhams. Of GDP.
The increase in the volume of general production in the emirate has reached 168 billion dirhams. Non-oil output increased to 159 billion and half billion dirhams, while the emirate’s GDP increased to 97.5 billion dirhams in 2018.
The transport and storage sectors accounted for the fastest-growing health and social service activities in 2018 by 4.6 percent, 6.8 percent and 5.5 percent respectively. The industrial sector also achieved a good 3.1 percent growth in the GDP structure The strategic sectors achieved remarkable growth in GDP, led by the industrial sector, which accounted for 25 percent of GDP. Construction, wholesale, retail and real estate sectors accounted for 7.7 percent, 11.6 percent and 10.4 percent, respectively.
The head of the Department of Economic Development in Sharjah praised the achievement of these figures. He pointed out that the construction, wholesale and retail trade and real estate sectors accounted for 13 percent, 8 percent and 10.7 percent, respectively, of the total production volume in the emirate of Sharjah.
He pointed out that the emirate’s economic indicators show the importance of the tourism, hotel and accommodation sector, which represents about 4.3 percent of the emirate’s GDP in 2018, with a production volume of 5.8 billion dirhams, estimated at 3.5 percent of the emirate’s overall production structure. Fixed capital in the sector amounted to about AED 1.8 billion, representing about 6.6 percent of the total fixed capital formation in the emirate. The growth of these investments in 2018 was estimated at 3.3 percent compared to the previous year.
He added that the volume of fixed capital formation in the emirate rose in the year 2018 to 23.3 billion dirhams in the non-oil sectors. The volume of investments in the sectors of electricity, transport, storage, accommodation activities, food services and real estate activities reached 3.5 billion dirhams, 3.6 billion dirhams, 1.8 billion dirhams, While investments in the arts, entertainment, promotion and other services sectors grew by AED 2 billion, with the largest growth in the economic sectors that had the largest investments in the emirate. The fixed capital formation in this sector was 5.8 percent in 2018 Coupler the previous year.
For his part, the Director of Registration and Licensing Department at the Department of Economic Development in Sharjah said that the license achieved growth in the first quarter of 2019 estimated at 3 percent in the main office of the department and 10 percent in the industrial zones branch, with the renewal movement at the headquarters of the department increasing to 4 percent and 9 percent In the industrial zones branch.
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