OMAN’S REVENUES REACH OMR10.6 BILLION, SURPLUS TOPS OMR1 BILLION

The GDP value at current prices rose to reach OMR32bn at the end of 2022 third quarter

Oman government’s revenues rose by 43.4 percent to reach OMR10.6 billion at the end of the third quarter of 2022 compared to OMR7.4 billion at the end of the same quarter of 2021.

Total public spending increased by 12.5 percent to reach OMR9.4 billion and the general budget surplus in the third quarter of 2022 reached OMR1.1 billion. The ratio of the surplus of the general budget to gross domestic product

BILLION OMANI RIYAL WAS THE TRADE SURPLUS AT THE END OF THIRD QUARTER OF 2022 COMPARED TO THE SAME PERIOD IN 2021 DUE TO RISE IN THE VALUE OF EXPORTS (GDP) at current prices has reached 3.5 percent, according to the National Centre for Statistics and Information (NCSI) data.

The value of gross domestic product (GDP) at current prices increased by about 30.4 percent at the end of the third quarter of 2022 to reach OMR32 billion compared to OMR24.6 billion at the end of the same quarter of 2021, according to the NCSI Quarterly National Accounts Indicators: September 2022.

The increase in the GDP is attributed to the increase in the added value of oil activities by 72.5 percent, and the added value of non-oil activities by about 14.9 percent.

The added value of oil activities increased by OMR5.2 billion, recording OMR12.5 billion, compared to OMR7.2 billion at the end of the same quarter of the previous year.

This is due to the increase in the added value of crude oil by 79.1 percent, to reach OMR10.9 billion, compared to about OMR6.1 billion at the end of the same quarter of the previous year. The added value of natural gas increased by about 36.7 percent at the end of the third quarter of 2022 compared to the same period of the year 2021.

The report indicated that the total value added of non-oil activities at the end of the third quarter of the year 2022 increased by 14.9 percent compared to the same period of the year 2021, to record OMR20.8 billion.

This is due to the increase in the added value of industrial activities by about 28.6 percent, of agriculture, forestry and fishing by about 12.4 percent and of service activities by 9.7 percent.

As for the increase in the added value of industrial activities, it is due to the increase in the added value of manufacturing industries by 65.6 percent, of mining and quarrying by 15.5 percent and in the supply of electricity, water and sanitation activities by 3 percent.

In foreign trade indicators, the report indicates an increase in the value of the surplus in the trade balance at the end of the third quarter of 2022 by OMR4.9 billion compared to the same period in 2021 to reach OMR7.8 billion.