Oman’s economy drops 14.2 percent in H1

20 Oct 2015

(MENAFN) Oman’s general economic activity fell by 14.2 percent in the Jan-June period to USD34.9 billion from USD40.9 billion posted in 2014’s same timeframe.

As for the main reason behind the deterioration; it was and still is the decline in oil prices in the international market, according to the recently released reports.

The most affecting drop was seen in energy sector activities, which plunged by 38.2 percent to USD12.04 billion from USD19.44 billion in the six months to June.

Meanwhile, The Sultanate’s non-oil exports stood at USD4.2 billion for the first half, showing a fall of 9.8 percent from USD4.6 billion recorded last year.

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