APRIL 25, 2023
Oman's GDP reaches OMR44.1bn at current prices
Muscat: The Sultanate of Oman’s gross domestic product (GDP) at fixed prices increased by 4.3 percent to OMR36.10 billion at the end of December 2022 compared to the corresponding period in 2021.
This rise in GDP has been attributed to the growth in oil activities by 10.2 percent at fixed prices at the end of December 2022 compared to the same period in 2021, the National Centre for Statistics and Information (NCSI) said it in its 2nd edition of the ‘Quarterly National Accounts Indicators’ report.
This report highlights the most important indicators at current and fixed prices, growth rates of economic activities and prominent indicators boosting the rise in GDP, until the end of December 2022.
The NCSI report also attributed the increase in GDP to the rise in activities of mining and utilisation of quarries by 10.5 percent. Meanwhile, the construction activities declined by 23.2 percent in 2022 compared to the same period in 2021, being the lowest among economic activities.
The report further indicated that the Sultanate of Oman’s GDP at current prices recorded an increase by 30 percent to OMR44.1 billion at the end of December 2022 compared to the same period in 2021.
This rise is attributed to the surge in oil activities at the end of 2022 at current prices by 61.60 percent compared to the corresponding period in 2021, being the highest among economic activities. It also contributed to the growth of the activities of converting industries by 49.60 percent during the same period.
The per capita GDP of the Sultanate of Oman for 2022 at current prices now amounted to OMR8,936.