OMAN GDP Exceeds OMR 15 billion in Q2 2021

Muscat (ONA): The Sultanate’s Gross Domestic Product (GDP) increased by 10.1% to reach at market prices RO 15,301,900,00 at the end of the second quarter of 2021 compared to OMR 13,898,300,000 at the end of the second quarter of 2020, according to the data released by the National Centre for Statistics and information (NCSI).

There was also a rise in petroleum activities by 8.7% at the end of the second quarter of 2021, registering RO 4,428,400,00 compared to RO 4,074,200,000 at the end of the same period of 2020.

The share of crude petroleum from petroleum activities was RO 3,723 billion, which is an increase by 11% from the end of the second quarter of 2020, when it stood at RO 3,354,400,000.

The activities of natural gas dropped by 2% reaching RO 705,400 million compared RO 719,800 million by the end of the second quarter of 2020.

Total non-petroleum activities went up by 11.1% at the end of the second quarter of 2021 when it reached RO 11,456,100,000 compared to 10,309,500,000 at the end of the same period in 2020.

Service activities came at the forefront of non-petroleum activities, reaching RO 7,912,600,000 rising by 11% compared to RO 7,130,600,000 in the second quarter of 2020.

The activity of communication decreased by 6.8% at the end of June 2021.Moreover, public administration and defence activities also went down by 0.6%.

Meanwhile, transportation and storage activities went up by 2.3%. Real estate, vocations, technology, and administration service rose by 21%. An increase was also witnessed in the wholesale & retail trade by 19% financial and insurance activities by 11.5% other services by 7%, residency activities and food services by 1.1%.

Industrial activities reached RO 3,122,300,000 by the end of the second quarter of 2021 compared to RO 2,785,100,000 by the end of the second quarter of 2020, comprising a rise by 12.1%.

A rise was also witnessed in the mining and quarrying by 7.7%, manufacturing by 34.2%, other manufacturing industries (including refined petroleum products manufacturing) by 43.3%, the value of basic chemicals activity by 20.7%, electricity & water supply and sewage by 7.6%. However, construction activities went down by 3.3% compared to the end of the second quarter of 2020.

The activities related to agriculture and fisheries rose by 7% to reach RO 421,200 million by the end of the second quarter of 2021 compared to RO 393,800 million by the end of the second quarter of 2020. -ONA