Oman’s GDP reaches OMR18 billion

Oman’s GDP reaches OMR18 billion

Muscat: Oman's Gross Domestic Product (GDP) reached OMR18.189 billion at current market prices at the end of September 2020, according to the data released by the NCSI.The National Centre for Statistics and Information in its latest data said that there was a fall in oil sector by 24.4 per cent at the end of September 2020, registering OMR5.79 billion compared to OMR7.66 billion at the end of September 2019.The share of petroleum from among oil activities was OMR4.63 billion, which is a decrease of 28.3 per cent from the end of September 2019, when it was OMR6.46 billion.The activities of natural gas also decreased by 3.5 per cent, reaching OMR1.15 billion compared to OMR1.19 billion at the end of September 2019.Total non-oil activities fell by 12.4 per cent to OMR13.15 billion. Services activities were at the forefront of non-oil sector, which was OMR9.28 billion, down by 10.6 per cent over OMR10.38 billion at the end of September 2019. Hotels and restaurants, wholesale and retail trade, and transport, storage and communication rose by 35.7 per cent, 31.4 per cent and 17.5 per cent, respectively.On the real estate services, financial intermediation and public administration and defence activities decreased by 14.2 per cent,