Oman’s oil activities increase 73.6%

Oman’s oil activities increase 73.6%

The value added of oil activities in the Sultanate Oman at the end of Q3 2022 reached RO 12.5 billion, compared to RO 7.2 billion at the end of Q3 2021, registering an increase of 73.6 per cent. The growth is attributed to the rise of value added of oil activities by 79 per cent, reaching RO 10.9 billion, compared to RO 6.1 billion at the end of Q3 2021. The value added of natural gas increased by about 36.7 per cent by the end of Q3 2022, compared to the same period in 2021, according to the latest data issued by the National Centre of Statistics and Information (NCSI).

The total value added of non-oil activities at the end of Q3 2022 reached RO 20.8 billion, a rise of 14.9 per cent compared to the same period in 2021. The increase is led by surge in value added of industrial activities (28.6 per cent), followed by agriculture, forestry and fishing (12.4 per cent) and service activities (9.7 per cent).

On the other hand, the surplus in the trade balance at the end of Q3 2022 reached RO 7.8 billion, an increase of RO 4.9 billion, compared to the same period in