The UAE’s manufacturing sector made a significant contribution to the country’s economy in 2023 adding 197 billion UAE dirhams ($54 billion) to the nominal GDP, the Central Bank of the UAER said in its annual report.

The report noted that the expansion of the manufacturing sector supports the UAE’s ambitions to achieve its strategic initiative, Operation 300bn, which aims to double manufacturing’s contribution to GDP to AED300 billion for the period 2021-31. Since the launch of the initiative in March 2021, the sector’s productivity increased by 7 percent, exports of manufactured goods grew by 17 percent, and investments grew by 17 percent to reach AED 61 billion ($17 billion) on the back of support extended to develop local supply chains.

The manufacturing sector currently accounts for 14 percent of the UAE’s non-oil GDP.

(Editing by Anoop Menon) (

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