Monday 02 / June / 2025
Muscat: The result of the expanded economic survey and the application of the new method of GDP calculation shows that the value of the GDP increased generally in Oman, with variation in contribution of economic activities in the GDP’s composition.
The Sultanate’s Gross Domestic Product (GDP) stood at OMR7,389,500,000 by the end of the first quarter 2021, down by 2.5 percent by comparison to the corresponding period in 2020 (7,580,700,000), according to preliminary statistics released by the National Statistics and Information Centre (NSIC).
Oil activities dropped by 20.6 percent by the end of the first quarter in 2021 to OMR1,927,800,000 as against OMR2,428,300,000 by the end Q1 in 2020.
Crude oil activities went down by 22.4 percent to OMR1,607,000,000 by the end of Q1 in 2021 as against OMR2,070,100,000 during the corresponding period last year.
Natural gas activities by the end of Q1 this year also declined by 10.4 percent, registering OMR320,800,000 as against OMR358,200,000 by the end of Q1 in 2020.
Non-oil activities by the end of the first quarter in 2021 increased by 5.7 percent to OMR5,728,300,000, compared to OMR5,418,900,000 by the end of Q1 in 2020.
Service activities led the growth of non-oil activities, posting OMR4,081,100,000—up by 6.6 percent over their standing by the end of Q1, 2020 (OMR 3,829,600,000).
However, by the end of March 2021, telecom activities decreased by 1.1 percent and public administration and defence by 2. percent, while wholesale-retail trade activities rose by percent, transport and storage by 12.7 percent residency (tenancy) by 7.7 percent, other service activities by 7.4 percent, finance and insurance by 6.3 percent and real estate activities, occupational, technical and administrative serve by 2.2 percent.
As for industrial activities, they registered an increase of 5.7 percent to OMR1,479,400,000 by the end of the first quarter of this year, compared to OMR1,399,000,000 by the end of Q1, 2020.
Of this, the value of basic chemical products activities rose by 24.8 percent, while the industries sector’s activities went up by 23.3 percent and electricity and water supply by 8.5 percent. The contribution of mining and quarries went down by 37.7 percent and construction activities by 6.8 percent.
Agriculture and fisheries-related activities went down by 11.9 percent at the end of the first quarter of this year to OMR167,800,000 (compared to OMR190,300,000 by the end of Q1, 2020).
Oman is processing its statistical data in accordance with international practices and standards.
Key aspects of this modernisation include the endorsement of the United Nation’s National Accounts System for 2008 and the UN “National Classification for Economic Activities (ISIC4).
