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FINANCIAL NEWS
Oman’s 2010 real GDP up 4.1%
31 Jan 2012
(MENAFN) Global Investment House (Global) said that in 2010, Oman’s real gross domestic product (GDP) grew 4.1 percent, reaching USD30 billion, from USD29 billion recorded in the previous year, reported Arab News.
The firm added that during the 2005-2010 period, the country’s real GDP grew by 6 percent on the compound annual growth rate (CAGR), where the expansion was accompanied with higher oil prices, better manufacturing production and growing industrial sector.
It also said that in 2010, nominal GDP surged 23.4 percent to reach USD57.5 billion, from USD46.6 billion in 2009, driven by the petroleum activities, which boosted its share of the GDP to 46.4 percent from 40.6 percent in 2009.
It is worth noting that non-petroleum activities, including industry, services and agricultural activities, increased its share in total GDP from 50.6 percent in 2005 to 53.6 percent in 2010.
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