Complex Made Simple

Oman’s non-oil economy stands at OMR8.9 billion by end-June

Mainly driven by expansion in industrial activities such as mining, construction, and water and electricity

Oman’s non-oil activities hit a total of OMR8.9 billion at the end of June, up by 3.7 per cent from OMR8.6bn recorded at the end of the same month last year.

The rise is mainly driven by a 4.7 per cent expansion in industrial activities such as mining, construction, and water and electricity.

Furthermore, the fishing and agricultural businesses expanded by 4.2 per cent while the services sector, which includes health and education, edged up by 3.4 per cent.

The services sector contributed OMR6.5bn to the sultanate’s non-oil economy at the end of June, compared with OMR6.3bn at the end of the same month last year.

Oman’s National Centre for Statistics and Information said that the value of the manufacturing sector’s contribution to the country’s non-oil sector dipped by 2.7 per cent.

According to the data published by KUNA, the contribution of Oman’s oil business to the national economy suffered a major slump of 38.2 per cent to OMR4.6bn, compared with OMR7.5bn at the same period last year.

(OMR1 = AED9.54, at the time of publishing)