Muscat: The Gross Domestic Product (GDP) of the Sultanate of Oman at the end of December 2021 increased by 16.1 per cent to reach RO 33.016 billion compared to RO 28.442 billion at the end of December 2020, according to the latest data issued by the National Centre for Statistics and Information (NCSI).
Statistics indicated that this increase is attributed to the rise in the value-added of oil activities at the end of December 2021 by 38.5 per cent, recording RO 10.547 billion, compared to RO 7.617 billion at the end of December 2020. The largest share was for crude oil at the end of December 2021, which amounted to RO 8.998 billion, constituting a growth of 46.6 per cent compared to the end of December 2020, when crude oil recorded RO 6.139 billion.
Natural gas activities increased by 4.8 per cent to reach RO 2.549 billion compared to the end of December 2020, which recorded RO 1.478 billion. The total non-oil activities at the end of December 2021 amounted to RO 24.044 billion, comprising an increase of 8.4 per cent compared to the end of December 2020 when non-oil activities recorded RO 22.178 billion. Service activities came at the forefront of non-oil activities, recording RO 16.571 billion, constituting growth of 6.5 per cent compared to the end of December 2020, when it recorded RO 15.563 billion. Communications activity decreased at the end of December 2021 by 7 per cent.
Public management and defence activities also went down by 2.1 per cent. Several other activities recorded an increase, namely transport and warehousing by 19.4 per cent, wholesale and retail trade by 15.5 per cent, real estate, professional, technical and administrative by 9.5 per cent, other service activities by 6.6 per cent and financial and insurance activities by 5.5 per cent, as well as accommodation and food services by 5.5 per cent.
The value of industrial activities at the end of December 2021 reached RO 6.687 billion, comprising a rise of 13.6 per cent compared to the end of December 2020 when it stood at RO 5.885 billion. The basic chemicals industry recorded the highest surge in total industrial activities by 79.5 per cent, while other manufacturing industries (which include refined petroleum products industry) went up by 19.9 per cent, mining and quarrying activities increased by 4.3 per cent, while the contribution of construction activities declined by 6.8 per cent. — ONA
