Oman's non oil GDP rises by more than 4%

Oman's GDP at current prices rose by 1% by the end of the fourth quarter of 2024 (2024 Q4), reaching OMR 41.12 billion Omani, compared to OMR 40.72 billion at the end of the fourth quarter of 2023 (2023 Q4).

Preliminary data issued by the National Centre for Statistics and Information showed that the value added by oil activities declined by 4%, to OMR 14.16 billion by the end of  2024 Q4 , compared to OMR 14.75 billion at the end of 2023 (Q4). Oil activities accounted for 32% of GDP.

The value added by crude oil activities stood at OMR 11.95 billion rials, a decrease of 5.3%, while natural gas activities rose by 4%, reaching OMR 2.21 billion.

The value added by non oil activities grew by 4.1%, to reach OMR 28.32 billion by the end of 2024 Q4, compared to OMR 27.21 billion at the end of 2023 Q4.

The total value added by industrial activities reached OMR 8.12 billion, up from OMR 7.76 billion of 2023 Q4. Agriculture, forestry and fisheries recorded OMR 1.07 billion, while service activities stood at OMR 19.13 billion.

The construction sector contributed 7.1%  of GDP, compared to 8 percent from wholesale and retail trade, 9 percent from public administration and defence, and 40 percent from other non-oil activities.