Oman: GDP at Current Prices in Q4 of 2023 Records RO 41.8bn

port
port

Muscat, 21 Apr (ONA) —The Gross Domestic Product (GDP) at current prices in the Sultanate of Oman at the end of the fourth quarter of 2023 (from January to December 2023) recorded a decrease of 2.8% to reach (at market price) RO 41.8 billion, compared to the end of the fourth quarter of 2022, during which the GDP at current prices reached RO 43 billion, according to preliminary data issued by the National Centre for Statistics and Information.

This decrease is mainly due to the drop in oil activities, which decreased by 11.9% to RO 14.9 billion at the end of the fourth quarter of 2023 compared to RO 16.9 billion at the end of the fourth quarter of 2022, where the contribution of oil activities reached 36%.

Crude oil activities declined by 14% to RO 12.788 billion, while natural gas activities increased by 2.4% to reach RO 2.183 billion. Non-oil activities increased by 1.7% to RO 28.153 billion by the end of the fourth quarter of 2023 compared to RO 27.6 billion at the end of the fourth quarter of 2022.

The total industrial activities recorded RO 7.7 billion, compared to RO 8.2 billion at the end of the fourth quarter of 2022, while agriculture, forestry and fishing activities recorded RO 966 million, and service activities recorded RO 19.4 billion.

The contribution of the construction activities amounted to 7%, compared to 8% for wholesale and retail trade, 9% for public administration and defense, and 40% for other non-oil activities.

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.