Total Foreign Investments Hit More Than RO 25 Billion in Oman in 2021
Muscat, 26 Feb (ONA) --- The gross domestic product (GDP) at current prices in 2021 stood at to about RO 33,909.8 million, up by 16.2 percent compared to 29,187.2 million in 2020 said the bulletin “Foreign Investment Statistics in the Sultanate of Oman" issued by the National Center for Statistics and Information (NCSI).
The bulletin indicated that the percentage of foreign investment flows of GDP amounted to 12.6 percent in 2021 compared to 0.7 percent in 2020.
The total foreign investment in the Sultanate of Oman hit RO 25,045.2 million in 2021 compared to RO 20,781.7 million in 2020 up by 20.5 percent.
Foreign direct investment (FDI) constituted the largest share of total foreign investments by 70.9 percent, and other foreign investments accounted for 23.9 percent, while foreign portfolio investments accounted for 5.2 percent.
The NCSI bulletin added that the total FDI in 2021 stood at RO 17,762.6 million, while foreign portfolio investments amounted to RO 1,290.2 million. Other foreign investments stood at about RO 5,985.4 million. Foreign investment in financial derivatives fell to reach RO 7 million.
The bulletin said that the volume of financial flows in 2021 stood at RO 4,263.5 million, indicating that the oil and gas sector had financial flows of RO 3,124.1 million, followed by the financial intermediation sector with an amount of RO 418.1 million, then the transport, storage and communications sector with RO 300.4 million, and the manufacturing sector with RO 112.1 million.
The NCSI bulletin added that the value of FDI in 2021 stood at RO 17.8 billion, an increase by 24.5 percent from 2020. This increase was driven by oil and gas sector by 68.6 percent. The relative importance of the converting industries sector and the financial intermediation sector reached 9.6 percent and 9.3 percent respectively.
The bulletin said that 45.3 percent of FDI in the Sultanate of Oman went to the United Kingdom (UK), followed by the United States of America (USA) at 15.5 percent.
As for the GCC states, the bulletin showed that FDI of the United Arab Emirates (UAE) stood at RO 951 million in 2021, compared to 1,017.1 million in 2020. Kuwaiti investments dropped from RO 807.4 million in 2020 to RO 800.5 million in 2021. Qatari investments grew to reach RO 457.5 million in 2021 compared to RO 376 million in 2020. Saudi investments also increased to reach RO 80.6 million in 2021 compared to RO 75.8 million. Bahraini investments fell from RO 371.6 million in 2020 to RO 371.2 million in 2021.
The total income paid to foreign investment institutions increased significantly by 101.7 percent, to reach RO 3.466 billion in 2021, compared to RO 1.718 billion in 2020.
The value of profits distributed to foreign direct investors increased by 124.9 percent, to reach RO 2,799.4 million in 2021 compared to RO 1,244.4 million in 2020.
The total Omani investments abroad stood at RO 6.016 billion in 2021 compared to RO 5,935.2 million in 2020, an increase of about 1.4 percent. UAE topped the Omani direct investments with RO 1,018.1 billion.
The total income received for Omani investment abroad - as indicated by the bulletin – hit RO 58.1 million in 2021 AD, compared to RO 64.8 million in 2020, a fall by 10.3 percent.