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Sultanate’s GDP rises by over 20 billion Rials by third quarter of 2017

Atheer – Oman News Agency

According to the National Centre for Statistics and Information (NCSI), the Sultanate’s GDP as per the the third quarter of 2017 was recorded as having risen by 10.1 percent from the corresponding period in 2016, to 18,463,800,000 Omani Rials.

Oil activities grew 23.9 percent to 6.2 billion Omani Rials. The share of crude oil from oil activities at the end of the third quarter of 2017 amounted to 5.3 billion Omani Rials, which was a rise of 27.8 percent. Natural gas increased by 6.3 percent to 983.9 million Omani Rials.

By the end of the third quarter of 2017, total non-oil activities amounted to 14.7 billion Omani Rials, with non-oil activities amounting to 14.2 billion Omani Rials.

Services activities at the forefront of non-oil activities amounted to 10.32 billion Omani Rials, representing an increase of 5.7 percent.

The secondary sectors of service activities saw a rise in wholesale and retail trade by 10.9 percent, transport, storage and communications by 7.3 percent, hotels and restaurants by 1.1 percent, real estate and leasing activities and business activities by 6.5 percent and financial brokerage by 2.9 percent.

In contrast, public administration and defense activities decreased by 0.4 percent, while other services increased by 9.8 percent.

Industrial activities amounted to 3.99 billion Omani Rials, which was an increase of 2.8 percent.

The basic chemicals sector rose 15 percent from the end of the third quarter of 2016, followed by the manufacturing sector by 11.9 percent and other manufacturing industries by 9.3 percent.

Electricity and water supply increased by 6.6 percent, mining and quarrying by 1.1 percent and construction by seven percent.

Activities related to agriculture and fishing witnessed an increase of 5.4 percent during the third quarter of last year, standing at 390.3 million Omani Rials.

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