Oman’s private sector contributes 82% to GDP in Q3 2024

Muscat: This marks a pivotal contribution of 82% to the GDP at current prices, up from 81.4% in Q3 2023.

The private sector’s backbone was large enterprises, which added RO 6.28 billion, accounting for 60.5% of the total. This reflects a 4.3% increase compared to the same period last year. Medium enterprises contributed RO 665.8 million (6.4%, up 3%), while small enterprises added RO 716 million (6.9%, up 3.2%). Microenterprises rounded off with RO 851.1 million (8.2%, up 3.9%).

The number of workers in private institutions rose by 0.6% year-on-year, reaching 1,804,547 by the end of Q3 2024. Meanwhile, the number of institutions operating in Oman jumped to 260,780, a notable 12.1% increase compared to Q3 2023.