Sultanate sees GDP rise by 12.9 per cent

MUSCAT: The Sultanate’s gross domestic product (GDP) rose by 12.9 per cent at the end of the first quarter of 2017 to reach RO 6,438.9 million as against RO 5,703.2 million during the same period last year, according to National Centre for Statistics and Information (NCSI).
The increase has been attributed to the rise in oil activities by 30.6 per cent and the increase in total non-oil activities by 5.3 per cent.
The oil activities at the end of the first quarter of 2017 amounted to RO 2,230.7 million compared with RO 1.549 billion.
The share of crude oil from oil activities at the end of the first quarter of 2017 was RO 1,707.8 million, a 37.9-per cent rise as against RO 1,238.2 million in the same period last year.
The natural gas activities recorded a 1.6-per cent rise to reach RO 315.9 million, up from RO 311 million.
The contribution of non-oil activities to total output at the end of the first quarter amounted to RO 4.607 billion, up from RO 4.376 billion.

Contribution of wholesale and retail trade in gross domestic product at the end of the first quarter was RO 535.9 million and contribution of hotels and restaurants RO 83.1 million.
Transport, storage and communications amounted to RO 386.2 million, business activities RO 317 million, public administration and defence activities RO 738 million and other services, RO 767.1 million.
The contribution of industrial activities in the gross output at the end of the first quarter of 2017 amounted to RO 1,262.2 million as against RO 1,220.2 million, a 3.4-per cent rise.
Manufacturing amounted to RO 601.7 million, followed by construction RO 515.4 million and other manufacturing industries RO 340.6 million, basic chemicals production RO 261.1 million, electricity and water supply RO 108.3 million and mining and quarrying RO 36.8 million.
In contrast, the contribution of agriculture and fish activities decreased 2.5 per cent to reach RO 114.9 million as against RO 117.8 million. — ONA