Commerce Sector Adds RO 3.2 Billion to Oman’s 2024 GDP, Minister Tells Shura Council

Muscat: The Minister of Commerce and Industry, during a session with the Shura Council, highlighted the robust performance of Oman’s commerce sector. He stated that in 2024, the sector contributed approximately RO 3.225 billion to the Gross Domestic Product (GDP) at constant prices, representing 8.3 percent of the total GDP.

The Minister also noted that the commerce sector achieved a cumulative growth rate of 6.6 percent during the Tenth Five-Year Development Plan, underlining its steady expansion.

He further revealed that industrial exports reached RO 6.2 billion in 2024, reflecting the increasing value addition of national industries and their growing ability to access and compete in both regional and global markets.

The Shura session also addressed key strategic areas, including the role of both public and private sectors in GDP growth, the effectiveness of Oman’s free trade agreements, and updates on the ‘Nazdaher’ programme, which aims to enhance investment promotion and drive industrial development in the Sultanate.