Muscat: The Sultanate of Oman’s GDP at current prices recorded an increase of 0.8% by the end of the first quarter of 2024, reaching RO 10.442 billion. This is a slight rise compared to the same period in 2023, which saw the GDP at RO 10.362 billion.
Preliminary data from the National Centre for Statistics and Information revealed that crude oil activities saw a decline of 4.4%, amounting to RO 2.996 billion. Natural gas activities also experienced a slight decrease of 0.1%, recording RO 524.4 million.
Conversely, non-oil activities demonstrated robust growth, increasing by 3.9% to RO 7.189 billion, compared to RO 6.920 billion in the corresponding quarter of 2023. This sectoral growth was a key driver of the overall GDP increase.
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The total industrial activities recorded an impressive rise to RO 2.018 billion, up from RO 1.913 billion in the first quarter of 2023. Agriculture, forestry, and fishing activities also contributed with RO 277 million, while service activities showed significant strength, recording RO 4.893 billion.
