Foreign Investments in Oman hit OMR  25.045bn in 2021

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Muscat: The gross domestic product (GDP) at current prices in 2021 stood at to about OMR 33,909.8 million, up by 16.2 percent compared to 29,187.2 million in 2020 said the bulletin “Foreign Investment Statistics in the Sultanate of Oman” issued by the National Center for Statistics and Information (NCSI).

The bulletin indicated that the percentage of foreign investment flows of GDP amounted to 12.6 percent in 2021 compared to 0.7 percent in 2020. The total foreign investment in the Sultanate of Oman hit OMR 25,045.2 million in 2021 compared to OMR 20,781.7 million in 2020 up by 20.5 percent.

Foreign direct investment (FDI) constituted the largest share of total foreign investments by 70.9 percent, and other foreign investments accounted for 23.9 percent, while foreign portfolio investments accounted for 5.2 percent.

The NCSI bulletin added that the total FDI in 2021 stood at OMR 17,762.6 million, while foreign portfolio investments amounted to OMR 1,290.2 million. Other foreign investments stood at about OMR 5,985.4 million. Foreign investment in financial derivatives fell to reach OMR 7 million.

The bulletin said that the volume of financial flows in 2021 stood at OMR 4,263.5 million, indicating that the oil and gas sector had financial flows of OMR 3,124.1 million, followed by the financial intermediation sector with an amount of OMR 418.1 million, then the transport, storage and communications sector with OMR 300.4 million, and the manufacturing sector with OMR 112.1 million.

The NCSI bulletin added that the value of FDI in 2021 stood at OMR 17.8 billion, an increase by 24.5 percent from 2020. This increase was driven by oil and gas sector by 68.6 percent. The relative importance of the converting industries sector and the financial intermediation sector reached 9.6 percent and 9.3 percent respectively.

The bulletin said that 45.3 percent of FDI in the Sultanate of Oman went to the United Kingdom (UK), followed by the United States of America (USA) at 15.5 percent.

As for the GCC states, the bulletin showed that FDI of the United Arab Emirates (UAE) stood at OMR 951 million in 2021, compared to 1,017.1 million in 2020. Kuwaiti investments dropped from OMR 807.4 million in 2020 to OMR 800.5 million in 2021. Qatari investments grew to reach OMR 457.5 million in 2021 compared to OMR 376 million in 2020. Saudi investments also increased to reach OMR 80.6 million in 2021 compared to OMR 75.8 million. Bahraini investments fell from OMR 371.6 million in 2020 to OMR 371.2 million in 2021.

The total income paid to foreign investment institutions increased significantly by 101.7 percent, to reach OMR 3.466 billion in 2021, compared to OMR 1.718 billion in 2020. The value of profits distributed to foreign direct investors increased by 124.9 percent, to reach OMR 2,799.4 million in 2021 compared to OMR 1,244.4 million in 2020.

The total Omani investments abroad stood at OMR 6.016 billion in 2021 compared to OMR 5,935.2 million in 2020, an increase of about 1.4 percent. UAE topped the Omani direct investments with OMR 1,018.1 billion.

The total income received for Omani investment abroad – as indicated by the bulletin – hit OMR 58.1 million in 2021, compared to OMR 64.8 million in 2020, a fall by 10.3 percent. – ONA

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