MUSCAT: The number of active private enterprises in the Sultanate of Oman grew significantly in the fourth quarter of 2024, marking an 11.2 per cent increase compared to the same period in 2023. According to data from the National Centre for Statistics and Information (NCSI), the total number of enterprises rose to 267,734 from 240,765 the previous year.
Micro-enterprises saw the most substantial growth, expanding by 14 per cent to reach 234,979, up from 206,059 in 2023. However, small enterprises experienced a decline of 6 per cent, falling to 30,163 from 32,085. Medium-sized enterprises recorded a slight drop of 1.5 per cent, standing at 1,867 compared to 1,905 a year earlier. In contrast, large establishments showed modest growth, increasing by 1.3 per cent to 725 from 716 in 2023.
Despite the rise in private enterprises, employment in the sector saw a slight decline. The total number of employees in private establishments dropped by 0.9 per cent, reaching 1,806,518 in the fourth quarter of 2024, compared to 1,823,660 in the same period of 2023. Large establishments saw a 0.7 per cent decrease in their workforce, with employee numbers falling to 432,452 from 435,338. Similarly, medium-sized enterprises reported a 2.5 per cent decline, employing 151,846 workers compared to 155,723 in 2023.
Small enterprises experienced a notable 6.5 per cent reduction in their workforce, dropping to 537,313 employees from 574,669 in the previous year. In contrast, micro-enterprises registered a 4.1 per cent increase in employment, reaching 684,907 workers, up from 657,930 in 2023.
While the overall number of private enterprises continues to grow, the employment figures suggest shifting dynamics within the sector. The expansion of micro-enterprises indicates increased entrepreneurial activity, while declines in employment at larger establishments may reflect ongoing economic adjustments. — ONA
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