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FINANCIAL NEWS
Oman’s GDP increases 4.6 percent in 2014
12 Jul 2015
(MENAFN) The macroeconomic situation remained approving even though the lower oil prices starting from the second half of 2014, with gross domestic product (GDP) at current prices grew by 4.6 percent in 2014 compared to 2.4 percent in 2013, Oman Daily Observer stated.
The petroleum sector expanded 2.4 percent, while the non-petroleum sector recorded an increase of 10.1 percent during 2014. The balance of payments situation remained contented with both current account and whole position in surplus.
The overabundance of the current account stood at around USD4.1 billion in 2014 while the total balance of expenses position lead to a surplus of USD1.1 million.
By movement in the average CPI of Oman measured, the annual inflation price was measured by 0.25 percent during January-May of 2015 over the corresponding period in 2014.
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