Sultanate's GDP posts over 10% growth
Oil activities posted a rise 8.7% to reach RO 4.428 billion
Published: 06:09 PM,Sep 27,2021 | EDITED : 11:09 AM,Sep 28,2021
Muscat: The gross domestic product (GDP) of Oman registered a significant increase of 10.1 per cent at the end of the second quarter of 2021, compared to the corresponding period last year.
According to statistics released by the National Centre for Statistics and Information (NCSI), the Sultanate’s GDP at current prices reached RO 15.301 billion by the end of June this year.
Oil activities posted a rise 8.7 per cent to reach RO 4.428 billion, compared to RO 4.742 billion at the end of the second quarter of 2020.
While the share of crude oil from oil activities by the end of the second quarter of 2021 stood at RO 3.723 billion, an increase of 11 per cent, natural gas registered a fall of 2 per cent with RO 705.4 million during the period against RO 719.8 billion in the previous year.
With regard to non-oil activities, there has been an across-the-board rise in all segments.
The non-oil segment recorded a notable growth of 11.1 per cent to help the state coffer get RO 11.456 billion at the end of the second quarter in the current year.
Contribution from the non-oil sector stood at RO 10.309 billion at the end of June 2020 except construction activities which went down by 3.3 per cent compared to the end of the second quarter of 2020.
According to the NCSI figures, service sector leads the table with an 11 per cent rise over the corresponding period with a total of RO 7.912 billion at the end of June 2021.
At the end of the second quarter in 2020, contribution from the service sector activities stood at RO 7 billion.
Activities related to agriculture, and fisheries saw an increase of 7 per cent, registering RO 421 million, compared to the corresponding period during which it stood at RO 393.8 million.
At the same time, mining and quarrying rose by 7.7 per cent, manufacturing by 34.2 per cent with refined petroleum production witnessing an increase of 43.3 per cent.
Meanwhile, transportation and storage activities went up by 23.3 per cent. Real estate, vocations, technology, and administration services rose by 21 per cent. An increase was also witnessed in the wholesale and retail trade by 19 per cent, financial and insurance activities by 11.5 per cent, other services by 7 per cent, residency activities and food services by 1.1 per cent.
Industrial activities reached RO 3,122,300,000 by the end of the second quarter of 2021 compared to RO 2,785,100,000 by the end of the second quarter of 2020, comprising a rise by 12.1 per cent.
A rise was also witnessed in the mining and quarrying by 7.7 per cent, manufacturing by 34.2 per cent, other manufacturing industries (including refined petroleum products manufacturing) by 43.3 per cent, the value of basic chemicals activity by 20.7 per cent, electricity and water supply and sewage by 7.6 per cent. However, construction activities went down by 3.3 per cent compared to the end of the second quarter of 2020.
The activities related to agriculture and fisheries rose by 7 per cent to reach RO 421,200 million by the end of the second quarter of 2021 compared to RO 393,800 million by the end of the second quarter of 2020. (With ONA inputs)
According to statistics released by the National Centre for Statistics and Information (NCSI), the Sultanate’s GDP at current prices reached RO 15.301 billion by the end of June this year.
Oil activities posted a rise 8.7 per cent to reach RO 4.428 billion, compared to RO 4.742 billion at the end of the second quarter of 2020.
While the share of crude oil from oil activities by the end of the second quarter of 2021 stood at RO 3.723 billion, an increase of 11 per cent, natural gas registered a fall of 2 per cent with RO 705.4 million during the period against RO 719.8 billion in the previous year.
With regard to non-oil activities, there has been an across-the-board rise in all segments.
The non-oil segment recorded a notable growth of 11.1 per cent to help the state coffer get RO 11.456 billion at the end of the second quarter in the current year.
Contribution from the non-oil sector stood at RO 10.309 billion at the end of June 2020 except construction activities which went down by 3.3 per cent compared to the end of the second quarter of 2020.
According to the NCSI figures, service sector leads the table with an 11 per cent rise over the corresponding period with a total of RO 7.912 billion at the end of June 2021.
At the end of the second quarter in 2020, contribution from the service sector activities stood at RO 7 billion.
Activities related to agriculture, and fisheries saw an increase of 7 per cent, registering RO 421 million, compared to the corresponding period during which it stood at RO 393.8 million.
At the same time, mining and quarrying rose by 7.7 per cent, manufacturing by 34.2 per cent with refined petroleum production witnessing an increase of 43.3 per cent.
Meanwhile, transportation and storage activities went up by 23.3 per cent. Real estate, vocations, technology, and administration services rose by 21 per cent. An increase was also witnessed in the wholesale and retail trade by 19 per cent, financial and insurance activities by 11.5 per cent, other services by 7 per cent, residency activities and food services by 1.1 per cent.
Industrial activities reached RO 3,122,300,000 by the end of the second quarter of 2021 compared to RO 2,785,100,000 by the end of the second quarter of 2020, comprising a rise by 12.1 per cent.
A rise was also witnessed in the mining and quarrying by 7.7 per cent, manufacturing by 34.2 per cent, other manufacturing industries (including refined petroleum products manufacturing) by 43.3 per cent, the value of basic chemicals activity by 20.7 per cent, electricity and water supply and sewage by 7.6 per cent. However, construction activities went down by 3.3 per cent compared to the end of the second quarter of 2020.
The activities related to agriculture and fisheries rose by 7 per cent to reach RO 421,200 million by the end of the second quarter of 2021 compared to RO 393,800 million by the end of the second quarter of 2020. (With ONA inputs)