The Sultanate’s Gross Domestic Product (GDP) fell by 16.5%, reaching OMR 18.189 billion at current market prices by the end of September 2020, according to the data released by the (NCSI).
There was a fall in Petroleum activities by 24.4% at the end of September 2020, registering OMR5,790.9 billion compared to OMR7,662.21billion at the end of September 2019. The share of Crude Petroleum from among Petroleum activities was OMR4,638.9 billion, which is a decrease of 28.3% from the end of the September 2019, when it was OMR6,468.5 billion. The activities of Natural Gas also decrease by 3.5%, reaching OMR1,152 billion compared to OMR1,193.6 billion end of September 2019.
Total Non-Petroleum activities fell by 12.4% to OMR13,152.8 billion. Services Activities were at the forefront of Non-Petroleum activities, which was at OMR9,285.4 billion, down by 10.6% over OMR10,385.2 billion at the end of September 2019. Hotels and Restaurants, Wholesale & Retail Trade, and Transport, storage & communication rose by 35.7%, 31.4% and 17.5%, respectively. On the Real estate services, Financial intermediation; and Pubic administration & defense activities decreased by 14.2%, 10.1% and 2.1%, respectively. Industrial Activities fell by 19.8 % to OMR 3,296.4 billion at the end of September 2020. The manufacturing of basic Chemicals sector fell by 28.8%, manufacturing, Construction, and Other manufacturing industries by 24.6%, 21% & 20.4%.
Electricity, and Water Supply increased by 1.1%, whereas other Mining & Quarrying fell by 0.4%. The activities related to Agriculture & Fishery sectors showed an increase of 9.8% to reach OMR571 million by end of September 2020, compared to OMR520.1 million at the end of September 2019.