Oman's GDP reaches OMR18 billion

Oman Wednesday 20/January/2021 20:07 PM
Oman's GDP reaches OMR18 billion

Muscat: Oman’s Gross Domestic Product (GDP) reached OMR18.189 billion at current market prices at the end of September 2020, according to the data released by the NCSI.

The National Centre for Statistics and Information in its latest data said that there was a fall in oil sector by 24.4 per cent at the end of September 2020, registering OMR5.79 billion compared to OMR7.66 billion at the end of September 2019.

The share of petroleum from among oil activities was OMR4.63 billion, which is a decrease of 28.3 per cent from the end of September 2019, when it was OMR6.46 billion.

The activities of natural gas also decreased by 3.5 per cent, reaching OMR1.15 billion compared to OMR1.19 billion at the end of September 2019.

Total non-oil activities fell by 12.4 per cent to OMR13.15 billion. Services activities were at the forefront of non-oil sector, which was OMR9.28 billion, down by 10.6 per cent over OMR10.38 billion at the end of September 2019.

Hotels and restaurants, wholesale and retail trade, and transport, storage and communication rose by 35.7 per cent, 31.4 per cent and 17.5 per cent, respectively.

On the real estate services, financial intermediation and public administration and defence activities decreased by 14.2 per cent, 10.1 per cent and 2.1 per cent, respectively. Industrial activities fell by 19.8 per cent to OMR3.29 billion at the end of September 2020.

The manufacturing of basic chemicals sector fell by 28.8 per cent, manufacturing, construction, and other manufacturing industries also fell by 24.6 per cent, 21 per cent and 20.4 per cent, respectively.

Electricity, and water supply increased by 1.1 per cent, whereas other mining and quarrying fell by 0.4 per cent.

The activities related to agriculture and fishery sectors showed an increase of 9.8 per cent to reach OMR571 million at end of September 2020, compared to OMR520.1 million at the end of September 2019.