Oman GDP growth reaches 22.7%
Oman's Gross Domestic Product (GDP) posted a 22.7 per cent growth at the current prices in 2011. The GDP rose to RO27,945.4 million at the end of 2011, against RO22,773 million for the previous year.
High growth rates the data show that the oil activities recorded high growth rates in 2011 supported by the continuing high oil prices. The GDP of oil activities grew by 36.3 per cent in 2011 - rising from RO10,428.2 million at the end of 2010 to RO14,216.4 million at the end of 2011.
The crude oil has achieved the bulk share of this rise as the added value of crude oil stood at RO13,184.3 million, representing about 92.7 per cent of the total oil activities or a growth by 37.9 per cent in 2011.
The natural gas contributed 7.3 per cent of the total oil activities or RO1,032 million, a growth of 18.7 per cent in 2011. The non-oil gross domestic product registered a growth of 11.4 per cent at the current prices in 2011 to hit RO14,275.4 million compared to RO12,815.4 million in 2010.
- Saudi SMEs v overseas enterprises. Who is the winner?
- Why does inflation continue to rise in the UAE?
- With Sisi likely to take over, how will Egypt's 'military economy' look like?
- Will future talks between the IMF and Egypt help the country's economy?
- Is Iran's economy already thriving amidst limited sanctions relief? Apparently so!