Oman GDP Grows 5.1 Percent Driven by Petroleum Gains
Oman reported a 5.1 percent GDP increase in the second quarter of 2026, fueled by a surge in petroleum activities and strategic re-exports.
Oman's gross domestic product grew 5.1 percent year-on-year in the second quarter of 2026, reaching approximately 9.9 billion Omani rials ($25.6 billion). The National Centre for Statistics and Information attributed this growth primarily to a 14.7 percent increase in petroleum activities, which rose to 3.4 billion rials.
Non-oil activities grew by 0.7 percent to 7 billion rials. While services and agriculture and fishing saw increases of 1.5 percent and 2.3 percent respectively, industrial activities declined by 1.5 percent. In the first half of the year, the wholesale and retail sector's GDP rose 5 percent to 1.74 billion rials, and foreign investment in commercial activities increased 9.7 percent to 305.3 million rials.
Re-exports grew by 13.6 percent to 1.14 billion rials, a trend linked to Oman's strategic location during Gulf shipping disruptions. These figures align with the goals of Oman Vision 2040 to diversify the economy. Additionally, the Ministry of Finance reported that total public expenditure rose 9 percent to 6.62 billion rials in the second quarter, supported by higher oil revenues.
