Oman’s GDP up by 1% at current prices

Muscat: The Sultanate of Oman's Gross Domestic Product (GDP) at current prices grew by one percent to OMR41,119.5 million at the end of the fourth quarter of 2024, compared to OMR40,716.9 million at the end of the fourth quarter of 2023.

Preliminary data released by the National Centre for Statistics and Information (NCSI) showed that the added value of oil activities went down by 4 percent to OMR14,162.7 million by the end of the fourth quarter of 2024, compared to OMR14,750.3 million by the end of the fourth quarter of 2023. The contribution of oil activities constituted 32.1 percent.

The added value of crude oil activities stood at OMR11.95 billion, down by 5.3 percent, while the value of natural gas activities went up by 4 percent to OMR2,212.7 million.

The added value of non-oil activities went up by 4.1 percent, posting a total of OMR28,319 million at the end of the fourth quarter of 2024, compared to OMR27,213.6 million billion at the end of the corresponding quarter in 2023.

The total added value of industrial activities stood at OMR8,121.7 million as against OMR7,761.9 million at the end of the fourth quarter of 2023.

Meanwhile, the value of activities in the sectors of agriculture, forestry and fishing stood at OMR1,070.3 million, while service activities generated a value of OMR19,127 million.

The construction activity contributed 7.1 percent, compared to 8 percent by the wholesale and retail trade activity, 9 percent by public administration and defence activity and 40 percent by other non-oil activities. -ONA