Oman’s Q1 GDP Growth of 2.6%: Key Insights for Investors and Business Owners
MUSCAT: Oman’s economy expanded by 2.6% in real terms during the first quarter of 2026, with the gross domestic product (GDP) at constant prices reaching RO 9.685 billion, according to preliminary data from the National Centre for Statistics and Information (NCSI). This growth was driven by increased oil and gas activities alongside sustained expansion in the services sector.
Oil activities rose by 4.6% year-on-year, reaching RO 3.035 billion compared to RO 2.902 billion in the same period of 2025. This increase was fueled by higher production of both crude oil and natural gas. The value added from crude oil activities grew by 4.3%, reaching RO 2.554 billion from RO 2.448 billion, while natural gas activity surged by 6.0% to RO 481.2 million from RO 453.9 million.
Non-oil activities recorded a 2.4% increase to RO 7.039 billion in Q1 2026, up from RO 6.877 billion a year earlier. This growth reflected ongoing gains in agriculture and services, despite a decline in industrial output. Agriculture and fishing posted the highest growth among non-oil sectors, increasing by 6.1% to RO 337.8 million from RO 318.3 million in the first quarter of 2025.
However, industrial activities contracted by 1.2%, falling to RO 1.980 billion from RO 2.005 billion in the previous year’s quarter. The services sector, the largest contributor to non-oil economic activity, grew by 3.7%, reaching RO 4.721 billion compared to RO 4.554 billion in Q1 2025. This underscores the sector’s vital role in supporting Oman’s economic diversification efforts. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s 2.6% GDP growth in Q1 2026, driven by stronger oil and gas output alongside expanding services, signals robust recovery and diversification. For businesses, this creates opportunities in agriculture and services sectors, while the decline in industrial activity underscores the need for strategic innovation. Smart investors should leverage growth in energy and services while monitoring industrial shifts to capitalize on Oman’s evolving economic landscape.
