Gross revenues cross RO 4 billion

As for the GDP, the national economy witnessed good growth.

The GDP grew by 12.9 per cent at the current prices to hit RO 6.4 billion compared to RO 5.7 billion during the same period last year.

The GDP for oil activities grew by 30.6 per cent to cross RO 2 billion compared to RO 1.5 billion during the first quarter last year.

Non-oil activities grew by 5.3 per cent to stay at RO 4.6 billion; a growth of RO 231 million compared to the first quarter last year.

The commodity exports during the first quarter of this year grew by 3.10 per cent to hit RO 2.8 billion compared to RO 2.5 billion during the same period last year, benefiting from the growth of oil activities by 28.4 per cent, which stood at RO 1.7 billion.

The non-oil exports also grew by 14 per cent to hit RO 751.8 million.

Official statistics pointed out that imports through marine and airports witnessed a good activity. The value of imports through ports grew by 4.2 per cent to hit RO 1.1 billion.

The value of air imports increased from RO 225.9 million to RO 568.3 million.

The Sultanate seeks to increase direct import from the producing countries in a way that contributes to stability of prices and reduces the cost of land shipping.

The value of imports through land ports at the first quarter this year declined by 12.3 per cent to stay at RO 665.1 million compared to RO 758.1 million during the same period last year. This made the Sultanate achieve low inflation levels — 1.6 per cent at the end of July 2017.