Oman’s GDP per capita falls by 17.3 per cent

Business Saturday 24/September/2016 13:59 PM
By: Times News Service
Oman’s GDP per capita falls by 17.3 per cent

Muscat: Gross domestic product (GDP) per capita decreased by 17.3 per cent in 2015 compared to 2014 to stand at OMR6,456 in 2015 compared to OMR7,803 in 2014, statistics released by the National Centre for Statistics and Information (NCSI) show.
The per capita of gross national income decreased by 15.5 percent in 2015 to register OMR6,242 against OMR7,385 in 2014.
NCSI statistics also pointed out that the GDP at the current prices stood at OMR26.85 billion; a decline by 13.8 per cent. The population at the end of the year stood at 4.159 million. The gross national income, which includes the GDP at the market price and the net initial income from the foreign world stood at OMR25.96 billion; a decline by 11.96 per cent in 2015 compared to OMR29.48 billion in 2014.
Deducting the net current transfers from the foreign world, which stood at OMR4,310.5 million, the available gross national income stood at OMR21,649.8 million, a decline by 14.92 per cent compared to OMR25,445.2 million in 2014.
The final consumption, which represents the value of goods and services for government use recorded OMR16,255.4 million in 2015; a decline by 0.48 per cent compared to OMR16,334.1 million in 2014.
Deducting the final consumption from the available gross national income, the national saving in 2015 stood at OMR5,394.4 million; a decline by 40.8 per cent compared to OMR9,111.1 million in 2014. The net exports of goods and services recorded OMR961.1 million; a decline by 86.5 per cent compared to OMR7,110.1 million in 2014.
On the other hand, the goods and services' imports at the current prices registered a 3.1 per cent decline to OMR14,098.3 million in 2015 compared to OMR14,556.0 million in 2014.
The GDP reducer, which represents the GDP at current prices over the fixed prices dropped by 18.4 per cent in 2015 to register 97.4 points in 2015 compared to 119.4 points in 2014.