Economy expands 8.3 per cent in H1

MUSCAT — The Gross Domestic Product (GDP) of oil and non-oil sectors in the Sultanate at current prices has reached about RO7,266.4 million during the first six months of this year, against RO6,708.1 million during the same period in 2006, constituting an 8.3 per cent rise. Initial statistics issued by the Ministry of National Economy attributed this to a rise in the oil activities.

The GDP, which includes crude pumping and its related subsidiary services and the extraction of natural gas, stood at RO3,407.7 million at the end of June 2007, showing an increase of 0.2 per cent against RO3,401.4 million during the same period in 2006.


Domestic product of oil pumping and subsidiary services related to oil pumping and gas extraction fell by 1.1 per cent to reach RO3,145.4 million by June end 2007, against RO3,181 million during the same period in 2006.

Domestic product of extracted national gas rose by 19 per cent to reach RO262.3 million during the first six months of the year 2007, against RO200.4 million during the same period in 2006.

The increase of the GDP was also attributed to the increase in the domestic product of non-oil activities by 16.9 per cent to reach RO3,983.5 million, against RO3,408.2 million by June end 2006.

The increase was attributed to 17.9 per cent in industrial activities to reach RO971.3 million against RO823.8 million.

The increase of the GDP was also attributed to a 5.7 per cent increase in the domestic product of agriculture and fisheries sector during the first six months of this year to reach RO89.2 million against RO84.4 million during the same period in 2006.

The increase in GDP was also attributed to a 16.9 per cent rise in service sectors, domestic product reached RO2,923 million, against RO2,500 million during the first half of 2006.

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Some good news from the economic side...I am posting after a long hiatus, as I'm busy with exams...Apologies for that...

(Click on the title to go to the original article in Times of Oman).