Thursday 21 October 2021
 
»
 
»
Story

Image courtesy: ONA

Oman’s GDP surges 10% to top $39 billion in Q2

MUSCAT, 22 days ago

Oman’s gross domestic product (GDP) increased by 10.1% to reach at market prices RO15.3  billion ($39.6 billion) at the end of the second quarter of 2021 compared to RO13.9 at the end of the corresponding quarter of 2020.

There was also a rise in petroleum activities by 8.7% at the end of the second quarter (Q2) of 2021, registering RO4.4 billion compared to RO4.07 billion at the end of Q2 2020, reported Oman News Agency (ONA), citing data released by the National Centre for Statistics and Information (NCSI).

The share of crude petroleum from petroleum activities was RO3.723 billion, which is an increase by 11% from the end of the second quarter of 2020, when it stood at RO3.35 billion.

The activities of natural gas dropped by 2%, reaching RO705,400 million compared to RO719,800 million by the end of the second quarter of 2020.

Total non-petroleum activities went up by 11.1% at the end of the second quarter of 2021 when it reached RO11.45 billion compared to RO10.30 billion at the end of the same period in 2020.

Service activities came at the forefront of non-petroleum activities, reaching RO7.91 billion, rising by 11% compared to RO7.13 billion in the second quarter of 2020.

The activity of communication decreased by 6.8% at the end of June 2021. Moreover, public administration and defence activities also went down by 0.6%.

Meanwhile, transportation and storage activities went up by 23.3%. Real estate, vocations, technology, and administration services rose by 21%. An increase was also witnessed in the wholesale & retail trade by 19%, financial and insurance activities by 11.5%, other services by 7%, residency activities and food services by 1.1%.

Industrial activities reached RO3.12 billion by the end of the second quarter of 2021 compared to RO2.78 billion by the end of the second quarter of 2020, comprising a rise by 12.1%.

A rise was also witnessed in the mining and quarrying by 7.7%, manufacturing by 34.2%, other manufacturing industries (including refined petroleum products manufacturing) by 43.3%, the value of basic chemicals activity by 20.7%, electricity & water supply and sewage by 7.6%. However, construction activities went down by 3.3% compared to the end of the second quarter of 2020.

The activities related to agriculture and fisheries rose by 7% to reach RO421,200 million by the end of the second quarter of 2021 compared to RO393,800 million by the end of the second quarter of 2020.




Tags:

More Finance & Capital Market Stories

calendarCalendar of Events

Ads