Oman’s GDP grew 2.6%

February 17, 2014 12:20 am

According to preliminary data released by the Omani government, the country has achieved a modest year-on-year nominal GDP growth of 2.6% during the first nine months of 2013, Muscat Daily has reported. The growth in nominal GDP reflected a marginal 1% contraction in the petroleum sector GDP and 7.8% increase in non-petroleum sector GDP. Oil production in the sultanate during 2013 grew 2.3% to 343.8 million barrels from 336.2 million barrels in the previous year. The average inflation-based on CPI for the sultanate stood at 1.1% during 2013, compared with 2.9% in 2012.