Oman’s nominal GDP rises 2% y/y in H1 2013

By bne IntelliNews October 4, 2013

Oman's GDP grew 2% y/y in current prices to OMR 15.53bn (USD 40.4bn) in January-June 2013 supported by the non-hydrocarbons sector amid lower oil output and prices, the statistics office said in a preliminary estimate. The hydrocarbon sector’s output shrank 3.3% y/y to a nominal OMR 7.61bn at end-June, accounting for 49% of Oman’s total GDP. The non-hydrocarbon sector, however, remained strong helping keep the overall nominal GDP in positive territory. The sector grew 6.6% y/y in H1.

The industrial sector grew a mild 0.5% y/y over the period, dented by a 4.2% contraction in the manufacturing activities. But the services sector’s output increased 11.7% y/y to OMR 5.94bn in January-June, underpinned by strong performances in general trade (up 10.5% y/y), hotels and restaurants (up 12.1%), transport and logistics (up 17.4%) and public administration services (up 13.3%).

Read in IntelliNews Pro

Get IntelliNews Pro

Related Articles

Dubai’s ICD reportedly interested in Montenegro’s Tivat airport

Investment Corporation of Dubai (ICD), which acquired a controlling stake in Porto Montenegro last year, reportedly is interested in ... more

Lebanon becomes European Bank for Reconstruction and Development shareholder

Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Dismiss