Oman's GDP Rises 2.6% in Q1 2026
Oman's gross domestic product at constant prices grew by 2.6 percent year on year in the first quarter of 2026, reaching 9.69 billion Omani rials ($25.2 billion), according to preliminary data from the National Center for Statistics and Information reported by the Oman News Agency. In the same period of 2025, GDP stood at 9.44 billion rials.
The expansion was driven by a 4.6 percent increase in oil-related activities, which rose to 3.04 billion rials from 2.9 billion rials a year earlier. Within the hydrocarbon sector, crude oil value added climbed 4.3 percent to 2.55 billion rials, while natural gas activity recorded a 6 percent rise, with value added reaching 481.2 million rials compared to 453.9 million rials in Q1 2025.
Non-Oil Sectors Show 2.4% Growth
Non-oil activities increased by 2.4 percent year on year to 7.04 billion rials, up from 6.88 billion rials in the first quarter of 2025, the ONA report stated. The services sector remained the largest contributor to non-oil GDP, growing 3.7 percent to 4.72 billion rials from 4.55 billion rials. Agriculture and fisheries posted a strong 6.1 percent expansion to 337.8 million rials, reflecting Oman's diversification agenda.
However, industrial activities declined by 1.2 percent to 1.98 billion rials from just over 2 billion rials a year earlier, partially offsetting gains elsewhere. Despite this, non-oil sectors accounted for more than two-thirds of total economic output during the quarter, highlighting the growing role of diversified industries.
IMF Upgrades Oman's 2026 Growth Forecast
The latest figures come weeks after the International Monetary Fund upgraded its 2026 growth forecast for Oman to 3.7 percent from 3.5 percent projected in April, citing the country's economic resilience following a staff visit to Muscat in June. Oman has accelerated efforts to reduce hydrocarbon dependence by expanding tourism, logistics, manufacturing, mining, fisheries, and clean energy, while pursuing fiscal reforms that have strengthened public finances.
