São Paulo – The gross domestic product of Oman reached OMR 41.8 billion (USD 108.6 billion) in 2023, a 2.8% slip from OMR 43 billion (USD 111.7 billion) in 2022. According to the Arab country’s National Center for Statistics and Information, the decrease was mainly due the drop of oil sector, which saw an 11.9% reduction to OMR 14.9 billion (USD 38.7 billion) at the end of the fourth quarter of 2023 compared to OMR 16.9 billion (USD 43.9 billion).
Crude oil activities declined by 14%, while natural gas activities increased by 2.4% to reach OMR 2.2 billion (USD 5.7 billion).
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Non-oil activities – including industry, construction, retail, and defense – increased by 1.7% to OMR 28.2 billion (USD 73.6 billion) by the end of the fourth quarter of 2023 compared to OMR 27.7 billion (USD 71.9 billion) at the end of the fourth quarter of 2022.
Translated by Guilherme Miranda
