Oman GDP rises on the back of growing non-oil revenues
Oman’s GDP edged up 1.5 percent year on year to $80.5 billion in the first nine months of this year, pushed by non-oil trades.
The sultanate’s crude oil revenues in the first nine months of 2025 fell by 2.2 percent year on year to $27.6 billion, according to data from the National Centre for Statistics and Information.
Gas income surged by 53 percent to $6.7 billion, on the back of rising domestic demand, while non-oil activities climbed by 2.5 percent year on year to $55.5 billion in the period between January to September this year.
The increase in non-oil trade was supported by a 12 percent rise in mining activities, a 4.5 percent rise in logistics and 7 percent higher revenues in agriculture and fisheries.
“This clearly shows our effort in the non-oil sectors is paying off as we work hard to diversify the national income from oil productions,” a statement from the ministry of finance said.
Oman, an Opec+ member, is producing about 1 million barrels of crude oil per day, which make up about 70 percent of the government revenues. However, it expects its oil reserves, currently at about 5 billion barrels, to be severely depleted by 2060.
This year the sultanate has signed a number of contracts in mining minerals with international companies as part of its diversification process.
It has also successfully attracted about $5 billion in investment in projects in manufacturing in its economic free zones, ranging from renewable energy, chemicals, logistics and pharmaceuticals since 2022.
Further reading:
- Oman’s economy in numbers
- IMF praises Oman’s fiscal management and resilient economy
- Oman’s OQGN signs $100m gas pipeline deal
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