Added value of private enterprises in Oman tops OMR8.8bn

Muscat: The total added value of active private enterprises in the Sultanate of Oman reached OMR8.85 billion during the fourth quarter of 2023, according to preliminary data issued by the National Centre for Statistics and Information (NCSI).

The contribution of the actual operating enterprises to the gross domestic product (GDP) at current prices stood at 81.2 percent during the fourth quarter of 2023 compared to 84 percent during the fourth quarter of 2022.

The added value of large enterprises amounted to OMR6.57 billion, representing a rate of 60.4 percent, a decrease of 6.5 percent compared to the corresponding period of the previous year. The added value of medium enterprises amounted to OMR681.9 million (6.3 percent), registering a decline of 3.2 percent.

The NCSI data further revealed that the added value of small enterprises amounted to OMR718.6 million, representing a rate of 6.6 percent, constituting a decrease of 2 percent. The total value added of micro enterprises amounted to OMR870.7 million, representing a rate of 8 percent, which constitutes a rise by 0.7 percent.

The NCSI data further revealed that the number of workers in active enterprises in the Sultanate of Oman increased by 6.4 percent to 1.82 million during the fourth quarter of 2023, compared to 1.71 million workers during the fourth quarter of 2022. Meanwhile, the number of enterprises increased by 8.7 percent to 240,765 during the fourth quarter of 2023 compared to the corresponding period in 2022.