UAE – Mubasher: The gross domestic product (GDP) at current prices of the emirate of Ajman rose 6.25% to AED 36 billion in 2023 from AED 33.90 billion a year earlier.

Ajman’s GDP at constant prices grew by 4.70% to around AED 32 billion last year from AED 30.50 billion in 2022, according to the Emirates News Agency (WAM).

Key sectors driving the growth of the GDP at current prices included manufacturing (18.80%), wholesale and retail trade, vehicle repair (18.04%), and construction (16.42%).

These sectors also led in real GDP contributions, with manufacturing at 18.9%, wholesale and retail trade at 18.31%, and construction at 17.36%.

GDP at current prices (nominal GDP) measures the market value of goods and services produced in an economy at present-day prices, including inflation effects. In contrast, GDP at constant prices (real GDP) adjusts for inflation, reflecting the actual quantity of goods and services produced.

In June 2024, the Central Bank of the UAE (CBUAE) expected the country's GDP to grow 3.90% in 2024.