GDP rises to more than OMR13b

Times of Oman - - THEBRIEFING - Times News Ser­vice

MUSCAT: Oman’s Gross Do­mes­tic Prod­uct rose to more than OMR13 bil­lion by the end of the sec­ond quar­ter of 2017 (June), ac­cord­ing to gov­ern­ment data.

The Sul­tanate’s GDP in­creased by 12.3 per cent at the end of the sec­ond quar­ter of 2017, record­ing cur­rent prices of OMR13,1,400,000, com­pared to the amount recorded at the end of the sec­ond quar­ter of 2016 — OMR11,577,800,00 — ac­cord­ing to the Na­tional Cen­tre for Sta­tis­tics and In­for­ma­tion.

The oil in­dus­try led to a growth of 34.9 per cent, record­ing OMR4,229,300,00 com­pared to OMR3,134,100,000 dur­ing the same pe­riod of 2016. The share of crude oil at the end of the sec­ond quar­ter was OMR3,583,800,000, an in­crease of 42.3 per cent com­pared to the sec­ond quar­ter of 2016, in which it recorded OMR2,518,900,000. Nat­u­ral gas in­creased by 4.9 per cent to OMR645,400,000 from OMR615,200,000 at the end of the sec­ond quar­ter of 2016.

By the end of the sec­ond quar­ter of 2017, to­tal non-oil ac­tiv­i­ties amounted to OMR9,134,700,000, an in­crease of 3.8 per cent over the end of the sec­ond quar­ter of 2016, and the con­tri­bu­tion of non-oil ac­tiv­i­ties amounted to OMR8,798,300,000.

Whole­sale and re­tail trade rose by 13.5 per cent, trans­port, stor­age and com­mu­ni­ca­tions by 7.8 per cent, ho­tels and restau­rants by 1.6 per cent, and real es­tate and busi­ness ac­tiv­i­ties by 6.4 per cent.

Min­ing and quar­ry­ing is also on the up with 9.4 per cent growth and man­u­fac­tur­ing rose by 5.7 per cent , elec­tric­ity and wa­ter sup­ply went up by 5.9 per cent, but the con­struc­tion sec­tor de­creased by 7.1 per cent, ac­cord­ing to sta­tis­tics.

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