​The Sultanate's Gross Domestic Product (GDP) at current prices recorded a growth of 15.1%, while the value added of non-oil activities increased by 5.1% and those of oil by 37.1%, according to data released by the  Centre .

The quarterly analysis of the economic situation of the Sultanate of Oman revealed that the GDP at current prices increased from RO 12.8 billion at the end of the second quarter of 2017 to RO 14.7 billion at the end of the second quarter of 2018. This is attributed to the increase in oil prices from $51.8 per barrel in the second quarter of 2017 to about $63.9 per barrel in the second quarter of 2018. The value added of oil activities was RO 5.4 billion at the end of second quarter of 2018 compared to RO 4 billion during the same period of 2017. Similarly, the value added of natural gas increased by 97.9% to reach RO 1.3 billion at the end of second quarter of 2018 compared to RO 0.6 billion at the end of the second quarter of 2017. The value added of non-oil activities reached RO 9.8 billion at the end of the second quarter of 2018. The value added of industrial activities increased by 5.7%, while the value added of service activities increased by 4.9%, and agriculture and fisheries by 2.8% compared to the end of second quarter of 2017.

Regarding the general budget of the country, the value of the deficit in the general budget of the Sultanate by the end of the second quarter of 2018 dipped by about 42.3% to record RO 1.4 billion compared to about RO 2.4 billion by the end of the second quarter of 2017. Total revenues increased by 23.5% to reach RO 4.9 billion compared to RO 4 billion at the end of the second quarter of 2017. Total public expenditure went up by 5.7% to reach RO 6 billion.  In the foreign trade indicators, the report indicates that the trade balance in the trade balance at the end of the second quarter of 2018 increased by RO 1.2 billion to reach RO 2.7 billion. The surplus in the trade balance is attributed to the increase in commodity exports by 28.5% to reach RO 7.7 billion.

The value of commodity imports increased by 10.4 % to reach RO 5.1 billion at the end of the second quarter of 2018 compared to RO 4.6 billion at the end of the second quarter of 2017.  In terms of cash position indicators, total domestic liquidity (M2) increased by 3% to reach RO 16.6 billion at the end of the second quarter of 2018 compared to RO 16.1 billion at the end of the second quarter of 2017. The money supply (M1) declined by 3.1% to reach RO 5.3 billion compared to RO 5.4 billion at the end of the second quarter of 2017.  Total private sector deposits increased by 4.7% at the end of the second quarter of 2018 to reach RO 14.2 billion compared to RO 13.6 billion at the end of the second quarter of 2017.  The total value of loans and finance provided through commercial banks and Islamic windows increased by 6.1% at the end of the second quarter of 2018 to reach RO 24.3 billion compared to RO 22.9 billion at the end of the second quarter of 2017. The total value of personal loans also increased by 2.9% to reach RO 8.3 billion, while the average interest rate on total loans increased by 5.2% compared to 4.9% at the end of the second quarter of 2017.

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