Oman’s GDP at constant prices rises 4.7% to OMR8.70 billion

Muscat: The Sultanate of Oman’s gross domestic product (GDP) at constant prices recorded an increase of 4.7 per cent to reach OMR8.70 billion at the end of the first quarter of 2023.

The GDP at constant price was OMR8.36 billion in the first quarter of 2022, according to the initial data issued by the National Centre of Statistics and Information (NCSI).

This increase has been mainly attributed to the growth of the non-oil activities which increased by 4.6 percent to reach OMR6.76 billion at the end of the first quarter of 2023 compared to OMR5.80 billion in the corresponding period of 2022.

Service activities

The total service activities has recorded a growth of 4.5 percent to reach OMR4.12 billion at the end first quarter of 2023 compared to OMR3.94 billion at the end of the first quarter of 2022. Also, the agriculture, forestry, fishing and industrial activities increased by 10.1 percent and 4.4 percent respectively.

Oil activities at the end of the first quarter of 2023 recorded a growth of 3.5 percent to reach OMR2.82 billion compared to OMR2.73 billion at the end of the first quarter of 2022.