In 2023, Oman’s GDP was primarily driven by the Mining, Manufacturing, and Utilities sector, constituting 52.06% of the total GDP. The Services sector followed with 27.58%, while Wholesale, Retail Trade, Restaurants, and Hotels comprised 7.96%. The Construction sector contributed 6.2%, and Transport, Storage, and Communication made up 4.88%. Agriculture, Hunting, Forestry, and Fishing accounted for 1.32%. Over the last two years, these figures have shown modest yearly growth, focusing on stabilizing the broader economic framework. The last five-year CAGR analysis indicates a steady expansion trend, notably within the non-oil sectors.
Future trends to watch:
- Continued diversification moves beyond oil to bolster non-oil GDP contribution.
- Increased investment in infrastructure and technology within the Service sector.
- Growth potential in Construction and Logistics due to strategic geographic positioning.
- Enhancing agriculture productivity through innovative practices and policies.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Mining, Manufacturing, Utilities | 52.06 | 2016 | |
| 2 | 2 Services | 27.58 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 7.96 | 2016 | |
| 4 | 4 Construction | 6.2 | 2016 | |
| 5 | 5 Transport, storage and communication | 4.88 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 1.32 | 2016 |
