QNA
Muscat
The gross domestic product (GDP) of Oman at constant prices increased by 1.7 percent to reach RO 9.537 billion at the end of the first quarter of 2024, compared to RO 9.373 billion at the corresponding period in 2023.
The preliminary data issued by Oman’s National Center for Statistics and Information (NCSI) indicated that crude petroleum activities recorded RO 2,554,900,000 (down by 3.3 percent), meanwhile natural gas activities increased by 3 percent to RO 437,100,000.
The data showed that non-oil activities increased by 4.5 percent to RO 6,803,300,000 by the end of the first quarter of 2024, compared to RO 6,511,700,000 at the end of the first quarter of 2023.
Industrial activities recorded RO 1,988,100,000 compared to RO 1,881,700,000 by the end of the first quarter of 2023, while agriculture, forestry, and fishing activities recorded RO 219 million, and service activities recorded RO 4,596,200,000.
Oman’s economy is expected to gain momentum, but the sultanate faces potential risks from regional geopolitical tensions, the International Monetary Fund has said.
