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MENAFN - Muscat Daily - 04/05/2014
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(MENAFN - Muscat Daily) Oman's gross domestic product (GDP) based on market prices - which takes into account taxes and subsidies - rose by an annual 2.8 per cent at the end of 2013, according to the National Center for Statistics and Information (NCSI).

Total GDP amounted to RO30.63bn at the end of 2013, compared with RO29.8bn at the end of 2012.

Based on producer prices, the sultanate's GDP grew by 3.4 per cent over the same period, to RO31.84bn at the end of last year from RO30.8bn at the end of 2012.

Financial intermediation services indirectly measured (FISIM) grew by six per cent to RO612.6mn. In addition, taxes  less subsidies on products grew to RO1.21bn at the end of 2013, from RO1bn a year ago, representing a growth of 20.8 per cent.

NCSI statistics reveal a one per cent drop in petroleum activity, to RO15.22bn at the end of 2013. The decrease is attributed to a 1.4 per cent dr in the total value of crude oil production, to RO14.05bn. On the other hand, the total value of natural-gas production rose by 4.3 per cent to RO1.17bn in 2013, compared with RO1.12bn at the end of 2012.

Total non-petroleum activity grew by 7.6 per cent in 2013, to reach RO17.23bn, against the 2012 total of RO16.01bn. Non-petroleum activity includes agriculture and fishing, which grew by 8.6 per cent to RO388.1mn.

In addition, industrial activity - which includes mining and quarrying, manufacturing, electricity and water supply, building and construction - totalled RO5.40bn at the end of 2013, for a 2.8 per cent growth.

The services sector recorded a growth of ten per cent to total RO11.44bn. This category includes wholesale and retail trade, hotels and restaurants transport, storage and communication, financial intermediation, real-estate services, public administration and other services.

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Muscat Daily




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