Oman GDP rises nearly 2%

The Gross Domestic Product (GDP) at constant prices in the Sultanate of Oman recorded 1.9% growth by the end of the third quarter of 2024.

GDP reached OMR 28.15 billion at market prices, compared to OMR 27.63 billion at the end of the third quarter of 2023.

Preliminary data from the National Centre for Statistics and Information indicated that the value added by oil activities decreased by 2.8%, recording OMR 8.88 billion by the end of the third quarter of this year, compared to OMR 9.13 billion in the same period of 2023, with oil activities contributing 31.6%.

Crude oil activities recorded OMR 7.48 billion, a decline of 4.1%, while natural gas activities increased by 4.7%, reaching OMR 1.40 billion.

The value added by non-oil activities increased by 4.2%, to OMR 20.53 billion by the end of the third quarter of 2024, compared to OMR 19.71 billion in the same period of 2023.

Total industrial activities recorded OMR 6.22 billion, compared to OMR 5.89 billion at the end of the third quarter of 2023.

Meanwhile, agriculture, forestry, and fishing activities recorded OMR 735.7 million, and service activities recorded OMR 13.57 billion.