Oman's Non-Oil Sector Growth Boosts GDP to $27 Billion in Q1 2024

Sunday, 7 July 2024, 09:26

The rise in Oman's non-oil sector activities led to a 0.8% year-on-year increase in the country's GDP, reaching 10.45 billion Omani rials ($27.15 billion) in Q1 2024. Preliminary data from the National Centre for Statistics and Information highlights the significant contribution of non-oil activities, totaling 7.18 billion rials by the end of the quarter. This growth underscores the resilience and potential of Oman's diversifying economy, marking a positive economic trend for the region.

Oman's Non-Oil Sector Growth Overview

The rise in Oman's non-oil activities propelled the GDP to $27 billion in Q1 2024. The non-oil sector recorded a value of 7.18 billion rials, signifying a notable increase.

Key Points:

Oman's GDP Growth: 0.8% year-on-year increase.
Contribution of Non-Oil Activities: Highlighted by preliminary data from the National Centre for Statistics and Information.

This positive trend in the non-oil sector reflects the country's economic diversification efforts.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Oman's Non-Oil Sector Growth Overview

Key Points:

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