Oman GDP grows 1.7% at constant prices during first quarter 2024

Muscat: The gross domestic product (GDP) of the Sultanate of Oman at constant prices increased by 1.7 percent to reach (at market price) OMR9,537.0 million at the end of the first quarter of 2024, compared to OMR9,373.9 million at the corresponding period in 2023, according to preliminary data issued by the National Centre for Statistics and Information (NCSI).

Crude petroleum activities recorded OMR2,554.9 million (down by 3.3 percent), meanwhile natural gas activities increased by 3 percent to OMR437.1 million.

Moreover, non-oil activities increased by 4.5 percent to OMR6,803.3 million by the end of the first quarter of 2024, compared to OMR6,511.7 million at the end of the first quarter of 2023.

Industrial activities recorded OMR1,988.1 million compared to OMR1,881.7 million by the end of the first quarter of 2023, while agriculture, forestry and fishing activities recorded OMR219 million, and service activities recorded OMR4,596.2 million.