Oman’s GDP exceeds OMR15 billion in second quarter of 2021

Muscat: The Sultanate’s Gross Domestic Product (GDP) increased by 10.1 per cent to reach market prices OMR15.30 billion at the end of the second quarter of 2021 compared to OMR13.89 billion at the end of the second quarter of 2020, according to the data released by the National Centre for Statistics and Information (NCSI).

There was also a rise in petroleum activities by 8.7 per cent at the end of the second quarter of 2021, registering OMR4.42 billion compared to OMR4.07 billion at the end of the same period of 2020.

The share of crude petroleum from petroleum activities was OMR3.72 billion in 2021, which is an increase by 11 per cent from the end of the second quarter of 2020 when it stood at OMR3.35 billion.

The activities of natural gas dropped by 2 per cent, reaching OMR705,400 million compared to OMR719,800 million by the end of the second quarter of 2020.

Total non-petroleum activities went up by 11.1 per cent at the end of the second quarter of 2021 when it reached OMR11,456,100,000 compared to OMR10,309,500,000 at the end of the same period in 2020.

Service activities came at the forefront of non-petroleum activities, reaching OMR7,912,600,000, rising by 11 per cent compared to OMR7,130,600,000 in the second quarter of 2020.

The activity of communication decreased by 6.8 per cent at the end of June 2021.
Moreover, public administration and defence activities also went down by 0.6 per cent.
Meanwhile, transportation and storage activities went up by 23.3 per cent.

Real estate, vocations, technology, and administration services rose by 21 per cent. An increase was also witnessed in the wholesale & retail trade by 19 per cent, financial and insurance activities by 11.5 per cent, other services by 7 per cent, residency activities and food services by 1.1 per cent.

Industrial activities reached OMR3,122,300,000 by the end of the second quarter of 2021 compared to OMR2,785,100,000 by the end of the second quarter of 2020, comprising a rise of 12.1 per cent.

A rise was also witnessed in the mining and quarrying by 7.7 per cent, manufacturing by 34.2 per cent, other manufacturing industries (including refined petroleum products manufacturing) by 43.3 per cent, the value of basic chemicals activity by 20.7 per cent, electricity & water supply and sewage by 7.6 per cent.

However, construction activities went down by 3.3 per cent compared to the end of the second quarter of 2020.

The activities related to agriculture and fisheries rose by 7 per cent to reach OMR421,200 million by the end of the second quarter of 2021 compared to OMR393,800 million by the end of the second quarter of 2020.