Muscat: By the conclusion of the third quarter of 2024, the Sultanate of Oman experienced a 2.7% rise in its gross domestic product (GDP) at current prices, reaching RO 30,642.0 million at market value. This is an increase from RO 29,845.4 million recorded at the end of the same quarter in 2023, as reported by the National Centre for Statistics and Information (NCSI).
Petroleum sector activities saw a slight increase of 0.3%, totaling RO 10,766.2 million by the end of the third quarter of 2024, compared to RO 10,728.9 million in the previous year. The contribution of oil activities to the GDP stood at 35%.
Within the petroleum sector, oil activities accounted for RO 9,120.3 million, reflecting a minor decrease of 0.1%, while natural gas activities rose by 3%, reaching RO 1,645.9 million.
Non-petroleum activities experienced a growth of 4.2%, amounting to RO 20,974.9 million by the end of the third quarter of 2024, up from RO 20,120.4 million in the same period of 2023.
Industrial activities overall increased by 5.4%, reaching RO 6,095.4 million compared to RO 5,783.2 million at the end of the third quarter of 2023. Additionally, agriculture, forestry, and fishing activities rose by 9.7%, totaling RO 807.6 million, while service activities recorded RO 14,071.8 million.
