Media ININ Economy We Trust
Media In – Sharjah 24 June 2018 / WAM /
The gross domestic product of Sharjah in 2017 amounted to more than 25 billion dollars, the contribution of oil and gas was less than 6%, while the contribution of industrial sector 16.9%, real estate sector 13% and wholesale and retail trade 12.1%.
The new Sharjah 2018 report, unveiled today by Oxford Business Group, the Sharjah Business Development Corporation and the Sharjah Investment and Development Authority (SHARK) and the Sharjah Office of Foreign Direct Investment (FDI), will be launched in Sharjah during a panel discussion titled ” Economic sustainability “.
The report pointed out that the industrial sector in the emirate has become a major contributor to the local and national economy and has succeeded in exploiting a number of competitive advantages, the most prominent of which are low costs, advanced infrastructure and geographical location on many international logistics routes.
The report showed the role of the new industrial enterprises in increasing the activity of the construction sector in Sharjah and the size of its efficiency as well as power generation projects, transport and residential and commercial projects.
The report pointed to the latest developments in the emirate’s tourism sector, which has witnessed a remarkable boom since 2015. The sector contributed 9% of the emirate’s GDP in 2016, while the food and hospitality services sector added about $ 859 million to the same output in 2017, Growing by domestic and foreign investors to invest in the tourism sector and build hotels in particular.
The report reviewed the growth rates of foreign direct investment in the Emirate of Sharjah, which reached about 1.63 billion dollars in 2017 distributed across all sectors to achieve a balance in growth according to the strategic vision of the Emirate of Sharjah.
