MUSCAT : According to preliminary data released by the National Centre for Statistics and Information (NCSI), the modest increase came despite a 4% decline in the added value of oil activities, which dropped to RO 14.16 billion in Q4 2024 from RO 14.75 billion in Q4 2023. The oil sector’s contribution to the total GDP stood at 32.1%, with crude oil activities falling 5.3% to RO 11.95 billion, while natural gas activities saw a 4% uptick, reaching RO 2.21 billion.
The spotlight was on non-oil activities, which expanded by 4.1%, rising to RO 28.32 billion from RO 27.21 billion the previous year.
Key contributors included:
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- Oil rises on supply fears as Middle East attacks escalate
- Oman’s standard government contracts initiative aims to boost public spending efficiency
- World Bank forecasts 23% rise in global commodity prices in 2026
- Oman signs 28 investment deals worth more than RO 304 million
- Gold prices edge higher as markets await US Federal Reserve decision
Industrial activities: up to RO 8.12 billion
Agriculture, forestry, and fishing: RO 1.07 billion
Service activities: RO 19.13 billion
Within the non-oil economy, construction accounted for 7.1%, while wholesale and retail trade contributed 8%. Public administration and defense made up 9%, and other non-oil activities dominated with a 40% share.
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