Oman’s GDP will grow by 1.3 percent by the end of 2023

Muscat, 8 April / WAM / The gross domestic product of the Sultanate of Oman recorded a growth of 1.3 percent by the end of 2023, and the size of the gross domestic product, in constant prices, increased from 37.7 billion Omani riyals at the end of 2022 to 38.2 billion Omani riyals by the end of 2023.

The Ministry of Economy said, in a statement broadcast by the Oman News Agency, that the volume of gross domestic product, at current prices, amounted to 41.8 billion Omani riyals during the past year, decreasing by 2.8 percent compared to 2022.

The growth achieved during the past year was mainly supported by the increase in the added value of non-oil activities, as their contribution to the domestic product increased from 26.6 billion Omani riyals in 2022 to 27.3 billion Omani riyals at the end of last year, with a growth rate of 2.4 percent.

The growth of oil activities recorded an increase of about 0.4 percent, bringing its contribution from 12.3 billion Omani riyals in 2022 to 12.4 billion Omani riyals in 2023.

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