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Oman’s GDP grows despite decline in oil and gas activities

The gross domestic product (GDP) at current prices of the Sultanate of Oman at the end of Q1 2024 recorded an increase of 0.8 per cent to reach RO 10.442 billion, compared to the same period in 2023 , amounting to RO 10.362 billion.

Preliminary data issued by the National Centre for Statistics and Information (NCSI) indicated that crude oil activities amounted to RO 2.996 billion, a decrease of 4.4 per cent while natural gas activities decreased by 0.1 per cent, recording RO 524.400 million.

On the other hand, non-oil activities increased by 3.9 per cent, recorded at the end of the first quarter of 2024, amounting to RO 7.188 billion, compared to RO 6.920 billion at the end of the same quarter in 2023.

The total industrial activities recorded RO 2.018 billion compared to RO 1.912 billion at the end of the first quarter of 2023. Agricultural, forestry and fishing activities recorded RO 277 million, and service activities recorded RO 4.893 billion.








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