Oman's GDP rises by 10.1%

The report indicates an increase in the trade balance gro

  
Image used for illustrative purpose. Aerial view of cars zooming on the highway near the sea.

Image used for illustrative purpose. Aerial view of cars zooming on the highway near the sea.

Getty Images/Pankaj & Insy Shah

Muscat: The Gross Domestic Product (GDP) at current prices in the Sultanate rose by 10.1%to reach OMR15.3bln at the end of the second quarter of this year, compared to OMR 13.9 bln in the same quarter of the previous year.

Data issued by the National Centre for Statistics and Information in a report analyzing the economic situation in the Sultanate for the second quarter of 2021, attributed this rise as a result of the increase in the average oil price by about 9.9 percent, as the price of a barrel rose from $51.1 to $56.2 in the second quarter of this year.

 

The added value of oil activities increased by OMR 354bln , to reach about OMR 4.4 bln, and the added value of non-oil activities increased by 11.1 % to OMR 11.5bln.

The report indicates an increase in the trade balance in the second quarter of this year by about OMR 604.7 million to reach OMR 2.8 billion as a result of an increase in the value of merchandise exports by 25%, an increase in the value of merchandise imports by 23.8%, and an increase in the value of re-exports by 2.4%.

 

© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From GCC