Muscat: The Sultanate of Oman's gross domestic product (GDP) in terms of constant prices grew by 1.7 percent to amount to OMR9,537.0 million when expressed at market values, at the close of the first three months of 2024, marking an increase from OMR9,373.9 million in the same period a year earlier, as detailed by preliminary figures provided by the National Centre for Statistics and Information (NCSI).
Meanwhile, the sector of crude oil activities saw a decrease of 3.3 percent, amounting to OMR2,554.9 million, while the sector of natural gas saw a rise of 3 percent, hitting OMR437.1 million.
Additionally, non-oil sectors saw a growth of 4.5 percent, reaching OMR6,803.3 million by the quarter's end, an increase from OMR6,511.7 million seen at the year's start.
In terms of activity sectors, industrial activities stood at OMR1,988.1 million, showing an increase from OMR1,881.7 million by the end of the previous quarter. On the other hand, the sectors of agriculture, forestry, and fishing experienced a spike to OMR219 million, and services saw growth to OMR4,596.2 million.
