Abu Dhabi has been positioned as the fastest-growing economy in the Middle East and North Africa (MENA) region in 2022.
According to the annual report by the Statistics Centre in Abu Dhabi (SCAD), in 2022, Abu Dhabi witnessed a 9.3% Gross Domestic Product (GDP), reaching Dhs 1.1 trillion, with non-oil exports contributing 50%.
Additionally, non-oil exports witnessed an 8.4% increase in 2022 compared to a 5.9% increase in 2021, with a target to reach Dhs 178.8 billion by 2031.
The growth solidifies Abu Dhabi's rate of maintaining its international position and aims to diversify the economy in the city.
Real estate in Abu Dhabi increased in 2022 by 17.1%, with a growth in the number of projects as well as investments from international businesses.
Abdulla Gharib Alqemzi, Acting Director General of SCAD said, "In light of GDP 2022 estimates, all economic sectors displayed notable growth, particularly the major economic sectors. This exceptional performance indicates a promising and robust economy, laying a strong foundation for a prosperous future."