Oman, 26 March, 2025 : Oman’s Gross Domestic Product (GDP) at fixed prices has increased by 1.7%, reaching RO 38,305.2 million by the end of the fourth quarter of 2024, according to preliminary data from the National Center for Statistics and Information (NCSI). This represents growth from RO 37,674.5 million during the same period in 2023.
The oil sector experienced a 3.0% decline in its added value, totaling RO 11,847.3 million by the end of the fourth quarter of 2024, compared to RO 12,209.7 million in 2023. Oil activities contributed 29.0% to the overall GDP. Specifically, crude oil activities decreased by 3.0%, amounting to RO 9,973.7 million, while natural gas activities grew by 5.4%, totaling RO 1,837.7 million.
On the other hand, non-oil activities showed strong growth, with a 3.9% increase, reaching RO 27,869.9 million by the end of the fourth quarter of 2024. Industrial activities rose to RO 8,395.9 million, up from RO 7,993.4 million in 2023, reflecting a positive outlook in the industrial sector. The service sector also grew, with its value reaching RO 18,486.5 million by the end of Q4 2024.
The agricultural, forestry, and fishing sectors posted a value of RO 987.4 million by the end of the fourth quarter of 2024, demonstrating steady growth in Oman’s diverse economic activities. The overall positive performance of non-oil sectors continues to highlight Oman’s efforts toward economic diversification and reducing dependence on oil revenue.
Source : www.omannews.gov.om
