The Sultanate of Oman’s gross domestic product (GDP) at constant prices increased by 1.7 percent in the first quarter of 2024, reaching OMR9.537 billion ($24.77 billion) , compared to OMR9.37 billion ($24.34 billion) in the corresponding period of 2023.
According to the latest data from Oman’s National Center for Statistics and Information (NCSI), crude petroleum activities declined by 3.3 percent, recording OMR2.55 billion. In contrast, natural gas activities experienced a 3 percent increase, reaching OMR437.1 million.
Non-oil activities, which make up a significant portion of Oman’s economy, grew by 4.5 percent, rising from OMR6.5 billion in the first quarter of 2023 to OMR6.8 billion in the same period of 2024.
Read more: Oman climbs five spots in 2024 Competitive Industrial Performance Index
Sectoral performance
Delving further into the sectoral performance, the data revealed that the industrial activities increased from OMR1.88 billion in Q1 2023 to OMR1.98 billion in Q1 2024. Moreover, agriculture, forestry, and fishing activities recorded OMR219 million. Meanwhile, service activities reached OMR4.59 billion.
OCB issues T-bills worth over $80.93 million
This week, the Oman Central Bank (OCB) announced that the total value of government treasury bills (T-bills) allocated for this week amounted to OMR31.15 million ($80.93 million)
According to the statement released by OCB, the value of the 28-day maturity treasury bills allocated was OMR15 million ($38.97 million). The average acceptable price was OMR99.650 per OMR100, with the lowest acceptable price reaching the same level. The average discount rate was 4.56250 percent, and the average return was 4.57852 percent.
For more economy news, click here.
