The Gross Domestic Product (GDP) of the Sultanate of Oman at current prices recorded an increase of 2.7% by the end of the third quarter of 2024, reaching RO 30.642 billion at market prices. This is compared to RO 29.845 billion and 400 thousand at the end of the third quarter of 2023, according to preliminary data released by the National Centre for Statistics and Information.
The value added by oil activities increased by 0.3%, reaching RO 10.766 billion and 200 thousand by the end of the third quarter of 2024, compared to RO 10.728 billion and 900 thousand at the end of the same period in 2023. Oil activities contributed 35% to the GDP.
Crude oil activities recorded RO 9.120 billion and 300 thousand, a slight decrease of 0.1%. Meanwhile, natural gas activities saw a 3% increase, reaching RO 1.645 billion and 900 thousand.
The value added by non-oil activities rose by 4.2%, amounting to RO 20.975 billion and 900 thousand by the end of the third quarter of 2024, compared to RO 20.120 billion and 400 thousand at the end of the same period in 2023.
The total value of industrial activities reached RO 6.095 billion and 400 thousand, marking a 5.4% increase compared to RO 5.783 billion and 200 thousand by the end of the third quarter of 2023. Agricultural, forestry and fishing activities registered RO 807 million and 600 thousand, rising by 9.7%. Meanwhile, service activities totalled RO 14.072 billion and 800 thousand, with a 3.5% increase.
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