Oman's GDP grows 2.6pc in Q2

JEDDAH, Dec 15 (Arab News): Oman's nominal gross domestic product grew by 2.6 per cent at the end of the second quarter of the year compared to the same period in 2023.
The growth was primarily driven by a 5 per cent increase in the non-hydrocarbon sector. However, it was partially offset by a 1.4 per cent reduction in hydrocarbon sector production, according to preliminary data from the National Centre for Statistics and Information.
Real GDP also saw an increase of 1.9 per cent, with the non-hydrocarbon sector contributing 4.2 per cent to this expansion.
As of October, the average price of Omani oil increased by 2.5 per cent to $82.6 per barrel, while oil production decreased by 5.4 per cent to nearly 994,000 barrels per day. Additionally, the Consumer Price Index reflected a modest 0.6 per cent year-on-year inflation as of October.
Non-oil exports, insured sales grow 5 per cent in Q3
The sultanate's non-oil exports and domestic sales insured by Credit Oman grew by 5 per cent in the third quarter, reaching 272.8 million Omani rials ($708.8 million).
Domestic sales rose 15 per cent to 126.9 million rials, while non-oil exports declined slightly by 2 per cent to 145.9 million rials, according to official data reported by the country's news agency.
The petrochemical and plastics sector saw a 58 per cent increase, while the mining industry dropped by 42 per cent. In the domestic market, packaging led growth with a 156 per cent rise, while building materials declined by 12 per cent. Consumer goods and food sales grew by 13 per cent.
133 maritime tourism licenses issued
The Ministry of Transport, Communications, and Information Technology has said that the number of licenses issued for maritime tourist trips from the beginning of January to the end of August reached 133.
Eight firms are currently managing and operating the tourist marine docks in the governorates of Musandam, South Al-Batinah, Muscat, and Dhofar.