Oman’s Q1 GDP rises 4.7pc to RO8.7bn

By News Desk on July 1, 2023

Muscat: The Sultanate of Oman’s GDP at constant prices at the end of the first quarter of 2023 increased by 4.7 percent to reach RO 8,700,100,000, compared to RO 8,306,600 at the end of the first quarter of 2022 according to the preliminary data issued by the National Center for Statistics and Information.

This increase is mainly attributed to the growth of non-oil activities by 4.6 percent, as it increased from RO 5,807,000,000,000 at the end of the first quarter of 2022 to RO 6,76,100,000,000 at the end of the first quarter of 2023.

The total service activities recorded a growth of 4.5 percent to reach OMR 4,124,200,000, compared to OMR 3,947,500,000 by the end of the first quarter of 2022. Agriculture, forestry, fishing and industrial activities also increased by 10.1 percent and 4.4 percent. respectively.

Oil activities recorded a growth of 3.5 percent at the end of the first quarter of 2023, recording RO 2,829,100,000, compared to RO 2,732,400,000 at the end of the first quarter of 2022.

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