Muscat: The Sultanate of Oman's Gross Domestic Product (GDP) at current prices experienced a growth of one percent, reaching RO 41,119.5 million by the end of the fourth quarter of 2024. This is an increase from RO 40,716.9 million recorded at the end of the fourth quarter of 2023.
According to Bahrain News Agency, preliminary data from the National Centre for Statistics and Information (NCSI) indicated a decline in the added value of oil activities by 4 percent, totaling RO 14,162.7 million at the close of the fourth quarter of 2024, compared to RO 14,750.3 million in the same quarter of the previous year. The contribution of oil activities to the GDP was 32.1 percent, as reported by Oman News Agency (ONA).
Crude oil activities saw a decrease in added value, amounting to RO 11,950 million, which is a drop of 5.3 percent. In contrast, natural gas activities observed an increase of 4 percent, reaching RO 2,212.7 million.
Non-oil activities showed a positive trajectory, with their added value rising by 4.1 percent to RO 28,319 million by the end of the fourth quarter of 2024, compared to RO 27,213.6 million in the corresponding quarter of 2023.