Oman GDP grows 1.7% at constant prices during Q1 2024

Muscat: The gross domestic product (GDP) of the Sultanate of Oman at constant prices increased by 1.7% to reach (at market price) RO 9,537.0 million at the end of the first quarter of 2024, compared to RO 9,373.9 million at the corresponding period in 2023, according to preliminary data issued by the National Center for Statistics and Information (NCSI).

Crude petroleum activities recorded RO 2,554.9 million (down by 3.3%), meanwhile natural gas activities increased by 3% to RO 437.1 million.

Moreover, non-oil activities increased by 4.5% to RO 6,803.3 million by the end of the first quarter of 2024, compared to RO 6,511.7 million at the end of the first quarter of 2023.

Industrial activities recorded RO 1,988.1 million compared to RO 1,881.7 million by the end of the first quarter of 2023, while agriculture, forestry and fishing activities recorded RO 219 million, and service activities recorded RO 4,596.2 million.