The GDP of the Sultanate of Oman grew by 26.7 percent in current prices in 2000, reported the London based Al-Hayat daily. This figure stood at 7.6 billion Omani riyal ($19.7 billion) at the end of 2000, compared with OR six billion in the previous year.
According to the Ministry of the National Economy, the product value of the oil sector, including oil and gas excavation, and related activities, amounted to OR 3.73 billion in 2000 compared with OR 2.365 billion in 1999. This reflects a 57.7 percent climb.
The same source also reported that the product value of the local non-oil sector rose to OR 4.04 billion in 2000, up from OR 3.75 billion in the previous year, representing a 7.7 percent increase.
This growth is attributed mainly to the rise in product value of the manufacturing sector, which grew from OR 481 million to OR 610 million during the same period. — (MENA Report)
© 2001 Mena Report (www.menareport.com )