SHARJAH, Sharjah Economic Development Department, SEDD, has released the Sharjah Economic and Social Development Indicators of 2010-2016.
The latest report is characterised by all economic and social variables and indicators for the five years together. It supports the unique vision of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, who calls for the development of an environment that allows to create a generation inspired by excellence and guided by the wise leadership.
Through this publication, the Department of Economic Development paid great attention to the provision of detailed data on the movement of population growth and the social aspect with the growth of economic sectors to show decision makers the tracks taken by the economic and social sectors together. Also, the study linked the four main indicators which includes the economic and social ones with the indicators of movement of licenses and indicators of national accounts, indicators of investment in fixed capital and compensation of employees in the emirate.
Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, said that Sharjah attained many objectives in the area of sustainable development that has been placed by the United Nations through adopting a unique economic development model based on the vision and orientations of Sharjah which has been reflected in the increased demand for the business environment in the Emirate.
He added that the quality of life indicators in the emirate and the wise directives of His Highness the Ruler of Sharjah, in addition to the wise pursuit of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council, concerning working procedures and supporting opportunities for continuous improvement in the business environment of the emirate are the main factors that have developed the economic work, increased the number of licenses and raised investment rates and growth of the GDP of Sharjah in the recent period.
SEDD is working to enhance the competitiveness of the emirate by attracting new investments in all fields. Such a thing is done by simplifying and facilitating procedures related to registering and conducting business, and developing provided services to businessmen and investors. All of this led to the rising in total licenses from 52,975 in 2010 to 61,930 licenses in 2013, followed by 71,660 in 2016 with a growth rate of 4.4 percent throughout these five years.
Statistics show an economic recovery from 2010 to 2016, with a gradual growth from AED64813 million in 2010 to AED69731 million in 2011. The GDP continued its growth during the years 2012-2014 until the maximum rise of AED88521 million in 2016 with an average growth of five percent during the period.
The publication shows that the financial and insurance activities recorded the most growing sectors within the GDP by 35.9 percent. These activities were followed by the education sector which hit 10.6 percent, then arts, entertainment, promotion and other services sector by ten percent and the health and social services sector by 8.3 percent during 2010-2016.
Source: Emirates News Agency