RIYADH: Oman’s economy expanded by 2.6 percent year on year in the first quarter of 2026, driven by stronger oil and gas activity and continued growth in the services sector, official data showed.
Gross domestic product at constant prices reached 9.69 billion Omani rials ($25.2 billion) in the first three months of the year, compared with 9.44 billion rials in the corresponding period of 2025, the Oman News Agency reported, citing preliminary data from the National Center for Statistics and Information.
Oil-related activities grew 4.6 percent year on year during the first quarter to 3.04 billion rials, up from 2.9 billion rials in the same period of 2025.
The latest figures come weeks after the International Monetary Fund upgraded its 2026 growth forecast for Oman to 3.7 percent from the 3.5 percent projected in April, citing the country’s economic resilience following a staff visit to Muscat in June.
The increase reflected stronger performance across both crude oil and natural gas production. Value added from crude oil activity rose 4.3 percent to 2.55 billion rials from 2.45 billion rials a year earlier, while natural gas activity recorded 6 percent growth, with value added climbing to 481.2 million rials from 453.9 million rials.
