MUSCAT: The gross domestic product (GDP) at current prices of the Sultanate of Oman at the end of Q4 2023 recorded a decline of 2.8 per cent, reaching (at market price) RO 41.837 billion, compared to the end Q4 2022, during which the gross domestic product at current prices reached RO 43.042 billion, according to preliminary data issued by the National Centre for Statistics and Information (NCSI).
Oil activities decreased by 11.9 per cent, recording RO 14.971 billion at the end of Q4 2023, compared to RO 16.993 billion at the end of Q4 2022, as the contribution of oil activities amounted to 36 per cent.
Crude oil activities also decreased by 14 per cent, recording RO 12.788 billion, while natural gas activities increased by 2.4 per cent, recording RO 2.183 billion.
Non-oil activities increased by 1.7 per cent, recording a value of RO 28.153 billion at the end of Q4 2023, compared to RO 27.671 billion at the end of Q4 2022.
The total industrial activities recorded RO 7.762 billion, compared to RO 8.234 billion at the end of Q4 2022, while agricultural, forestry and fishing activities recorded RO 966.400 million, and service activities recorded RO 19.424 billion.
The contribution of construction activity amounted to 7 per cent, compared to 8 per cent for wholesale and retail trade, 9 per cent for public administration and defense, and 40 per cent for other non-oil activities. — ONA
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