Oman's GDP at constant prices tops OMR38bn

Muscat: The gross domestic product (GDP) at constant prices of the Sultanate of Oman at the end of the fourth quarter of 2023 increased by 1.3 per cent to reach (at market price) OMR38.3 billion, compared to the end of the fourth quarter of 2022, during which the GDP at constant prices reached OMR37.8 billion, according to preliminary data issued by the National Center for Statistics and Information (NCSI).

This increase is attributed to the rise in oil activities by 0.4 per cent percent to OMR12.4 billion by the end of the fourth quarter of 2023, compared to OMR12.3 billion by the end of the fourth quarter of 2022, where the contribution of oil activities reached 33 per cent. Crude oil activities recorded OMR10.6 billion, and natural gas activities increased by 3.1 per cent to OMR1.8 billion.

Non-oil activities rose by 2.4 per cent to OMR27.3 billion by the end of the fourth quarter of 2023, compared to OMR26.7 billion at the end of the fourth quarter of 2022.

The total industrial activities recorded OMR8.1 billion compared to OMR8.1 billion by the end of the fourth quarter of 2022, while agriculture, forestry and fishing activities recorded OMR830 million, and service activities recorded OMR18.4 billion.

The contribution of the construction activities amounted to 9 per cent, compared to 8 per cent for wholesale and retail trade, 9 per cent for public administration and defense, and 41 per cent for other non-oil activities.