• Oman

    • Oman’s GDP grows 4.5% to hit RO 26.2 million

    By on December 20, 2022

    Muscat: The Sultanate of Oman’s Gross Domestic Product (GDP) at fixed prices increased by 4.5% by the end of September 2022 to hit RO 26,279.2 million compared to RO 25,156.9 million during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

    Statistics indicated that this rise is attributed to the growth in oil activities at the end of September 2022 by 12% to stand at RO 9,404.6 million compared to RO 8,393.6 million as at the end of September 2021.

    Among oil activities, crude oil activities constituted the largest growth (13.4%). Crude oil activities contributed to the GDP by RO 8,040.5 million by the end of September 2022 compared to RO 7,091 million by the end of September 2021.

    Natural gas activities increased by 4.7% from RO 1,302.6 million to RO 1,364.1 million.

    Non-oil activities rose by 1.6% from RO 17,430.6 million by the end of September 2021 to stand at RO 17,703.4 million by the end of September 2022.

    Service activities went up by 5% from RO 11,474.5 million by the end of September 2021 to reach RO 12,048.3 million by the end of September 2022. Meanwhile, activities of agriculture, forestry and fishing, and industrial activities decreased by 8.2% and 4.7% respectively.

    The growth in non-oil activities is attributed mainly to the activities of transport and storage, which recorded the highest increase during the first 9 months of 2022, going up by 28.4% from RO 1,093.4 million to RO 1,403.2 million. Moreover, activities of residency and food services followed with a surge by 21.3%, to stand at RO 503,100,000 by the end of September 2022 compared to RO 414,800,000 by the end of September 2021.

    Activities of mining and utilizing quarries rose by 7.8% from RO 188,100,000 in September 2021 to RO 202,700,000 by the end of September 2022.

    On the other hand, construction activities recorded a decline by 24.8% from RO 2,311.5 million by the end of September 2021 to RO 1,738.1 million by the end of September 2022. Fishing activities also dropped by 23% from RO 280,200,000 to RO 215,700,000 by the end of September 2022. – ONA

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