The gross domestic product (GDP) of the Sultanate of Oman recorded a 4.2 percent drop in the first quarter, year on year. The GDP figure stood at 1.783 billion Omani riyals ($4.63 billion) in the first three months of the fiscal year 2002, compared to OR1.862 billion in the corresponding quarter the previous year.
With a population of 2.7 million, the Omani government expects the GDP to increase by four percent during the Sultanate’s sixth five-year plan (2001-2006). The oil sector’s contribution to the GDP is expected to drop by 34 percent by the end of 2005, compared to 48 percent input in 2000. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
