MUSCAT: Oman’s nominal GDP declined by 3.9 percent during the first quarter of 2020 compared to the same three-month period of last year, according to preliminary data released by National Center for Statistics and Information (NCSI).
The nominal contraction in the economy was driven by a 6.2 percent decline in the non-hydrocarbon sector, mainly because of a drop in nominal GDP emanating from the non-petroleum industrial activities and services sector decreasing by 11.5 and 5.2 percent, respectively.
On the other hand, the hydrocarbon sector inched up marginally by 0.7 percent during the first quarter of 2020.
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