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%).

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