MUSCAT: Oman’s economy demonstrated solid performance in the first quarter of 2025, with gross domestic product (GDP) at current prices growing by 4.7% to reach RO 10.53 billion. This growth reflects the government’s successful economic diversification efforts and increased activity in non-oil sectors, alongside a global economic environment that remains cautiously optimistic. The latest data, released by the National Centre for Statistics and Information (NCSI), offers a positive signal amid ongoing regional and international financial fluctuations.
A key contributor to this growth was the robust expansion in manufacturing, logistics, and services, which compensated for moderate oil sector gains. Despite oil price volatility, Oman’s non-hydrocarbon sectors demonstrated resilience, benefiting from strategic investments and policy reforms aimed at fostering sustainable economic development. The government’s focus on public-private partnerships also played a role in driving industrial growth and boosting investor confidence.
Additionally, the construction and tourism sectors showed promising upward trends, helped by infrastructure projects and a surge in visitor arrivals. Oman’s push to position itself as a regional tourism hub is bearing fruit, with increased international attention and regional events attracting more business and leisure travelers. These developments have had a ripple effect on retail, hospitality, and transportation, further enhancing overall economic momentum.
Looking ahead, economists forecast continued growth, particularly if Oman maintains structural reforms and enhances fiscal discipline. The government’s Vision 2040 roadmap remains central to future progress, with targeted goals to strengthen economic competitiveness, create employment opportunities, and expand digital and green sectors. Maintaining balanced growth across diverse industries is expected to safeguard Oman’s economic stability over the coming years.
