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Oman economy grew 44pc to $60bn in 2008
Muscat: 
 

Non-Opec oil producer Oman's economy grew 44 percent at current prices in 2008 to 23.05 billion rials ($59.87 billion) due to a surge in oil prices, official data showed on Tuesday.

The value of crude oil output at market rates rose to 10.81 billion rials last year from 6.52 billion rials in 2007, Oman's Ministry of National Economy said in a monthly report on its website.

Oil prices rallied to a peak near $150 a barrel last summer before collapsing by around $100 since.

The services sector expanded 22.5 percent to 7.55 billion rials, the ministry said.

Oman has yet to release constant price GDP data for 2008. Its central bank governor said in March Oman's real GDP growth rate would fall to 1 to 3 percent this year from 6-8 percent last year. - Reuters


 
 
 

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