Industrial sector emerges as second biggest contributor to Oman’s GDP

MUSCAT, OCT 16

Newly released figures from the National Center for Statistics and Information (NCSI) show that the contribution of the Omani industrial sector during the first nine months of 2021 amounted to RO 2 billion in value terms, representing 8.5 per cent of the total gross domestic product (GDP).

Total Omani exports during the first 9 months of 2021 amounted to about RO 12.280 billion, which included RO 7.080 billion worth of oil and gas exports. Non-oil exports worth RO 4.180 billion and re-exports totaling RO 1.020 billion made up the rest.

Significantly, the industrial sector has emerged as the second highest contributor to the GDP after the energy sector. Of a total GDP estimated at RO 33 billion last year, the industrial sector’s sector share was RO 6.6 billion, encompassing industry activities including mining, quarrying, manufacturing, petrochemicals, basic chemicals, and oil refining.

The volume of investments localized in Oman’s network of industrial cities totalled about RO 7 billion with more than 2,300 industrial units currently in operation in the countries nine industrial parks.

During the first half of this year, GDP at constant prices amounted to RO 20 billion in value. Industrial activities alone recorded a growth of 26.2 per cent, with the sector’s contribution climbing to nearly RO 4 billion during this period, versus RO 3.1 billion for the same period last year.

Within the industrial sector, the manufacturing segment is the most productive with a contribution of RO 2.3 billion during the first half of this year, up from RO 1.4 billion in the same period last year.