New Report on Oman’s GDP Growth Details
According to preliminary data released by the National Centre for Statistics and Information of Oman, the Sultanate’s Gross Domestic Product (GDP) at constant prices increased by 1.7% at the end of the first quarter of 2024, reaching 9.537 billion Omani Rials (equivalent to 24.8 billion USD), compared to 9.373 billion Rials (equivalent to 24.4 billion USD) during the same period in 2023.
Details of GDP Growth at Constant Prices (Omani Rial / USD)
| Indicator | Q1 2023 | Q1 2024 | Percentage Change |
|---|---|---|---|
| Gross Domestic Product | 9,373.9 billion Rials (24.4 billion USD) | 9,537.0 billion Rials (24.8 billion USD) | 1.7% growth |
| Crude Oil Activities | 2,639.7 billion Rials (6.9 billion USD) | 2,554.9 billion Rials (6.6 billion USD) | 3.3% decline |
| Natural Gas Activities | 424.4 billion Rials (1.1 billion USD) | 437.1 billion Rials (1.13 billion USD) | 3% growth |
| Non-Oil Activities | 6,511.7 billion Rials (16.9 billion USD) | 6,803.3 billion Rials (17.6 billion USD) | 4.5% growth |
| Industrial Activities | 1,881.7 billion Rials (4.9 billion USD) | 1,988.1 billion Rials (5.1 billion USD) | 5.7% growth |
| Agriculture, Forestry, and Fishing | 210.3 billion Rials (0.54 billion USD) | 219.0 billion Rials (0.57 billion USD) | 4.1% growth |
| Service Activities | 4,419.7 billion Rials (11.5 billion USD) | 4,596.2 billion Rials (11.9 billion USD) | 4% growth |
This table illustrates the changes in various economic sectors of Oman during the first quarters of 2023 and 2024. As observed, non-oil and industrial activities have shown significant growth, while crude oil-related activities have declined.
Source: New Report on Oman’s GDP Growth Details – Oman Observer
