Mubasher: Oman’s Gross Domestic Product (GDP) grew by 15.1% in the second quarter of 2018, according to data released by the National Centre for Statistics and Information (NCSI).
During the same period, the value added of non-oil activities increased by 5.1% and those of oil by 37.1%.
GDP at current prices increased from OMR 12.8 billion at the end of the second quarter of 2017 to OMR 14.7 billion at the end of the second quarter of 2018.
This is attributed to the increase in oil prices from $51.8 per barrel in Q2-17 to about $63.9 per barrel in Q2-18, as reported by the Oman News Agency (ONA).
The value added of oil activities was OMR 5.4 billion at Q2-18 compared to OMR 4 billion during the same period of last year.
Similarly, the value added of natural gas increased by 97.9% to reach OMR 1.3 billion at the end of Q2-18 compared to OMR 600 million at the end of Q2-17.
The value added of non-oil activities reached OMR 9.8 billion.
Meanwhile, the general budget deficit decline by about 42.3% to OMR 1.4 billion compared to OMR 2.4 billion for the corresponding period last year.
