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FINANCIAL NEWS
Oman’s economy hits robust 12.9pct increase in Q1
22 Aug 2017
(MENAFN) Oman’s economy has achieved a robust 12.9 percent increase at OMR6.438.9mn in the Jan-March quarter of the year, against OMR5.703.2mn for the same period of 2016.
Moreover, the increase was driven by a marked rise in crude oil price in the global market, shows the monthly report exposed by the National Center for Statistics and Info (NCSI).
In addition, one of the major factors for an increase in nominal GDP is a growth in the average price of crude oil, which reached more than USD51.6 per barrel.
Meanwhile, oil sector GDP jumped by 30.6 percent to OMR2.023.7mn for the cited quarter of the year, from OMR1.549.2mn for the same period of 2016.
MENAFN2208201700450000ID1095758032
MENAFN2208201700450000ID1095758032
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