Oman's GDP at Fixed Prices Exceeds RO 38.3 Billion by End of 2024

Muscat, 25 Mar (ONA) --- The Sultanate of Oman's Gross Domestic Product (GDP) at fixed prices rose by 1.7 percent to RO 38,305.2 million (at market prices) by the end of the 4th quarter of 2024, compared to RO 37,674.5 million during the corresponding period of 2023.

This was evidenced by preliminary data issued by the National Centre for Statistics and Information (NCSI).

According to the NCSI, the added value of oil activities decreased by 3.0 percent, registering a total of RO 11,847.3 million by the end of the 4th quarter of 2024, compared to RO 12,209.7 million by the end of the fourth quarter of 2023. The contribution of oil activities accounted for 29.0 percent.

The added value of crude oil activities amounted to RO 9,973.7 million—down by 3.0 percent, while natural gas activities grew by 5.4 percent, registering a total of RO 1,837.7 million.

The added value of non-oil activities grew by 3.9 percent, registering RO 27,869.9 million by the end of the 4th quarter of 2024, compared to RO 26,834 million by the end of the corresponding period in 2023.

By the end of the 4th quarter of 2024, the value of overall industrial activities stood at RO 8,395.9 million compared to RO 7,993.4 million by the end of the 4th quarter in 2023.

The value of activities of agriculture, forestry and fishing posted a total of RO 987.4 million, while the value of service activities stood at RO 18,486.5 million.

--- Ends/Bishara/AG