Consumption in Oman

Oman Consumption | Economic News & Forecasts

Oman - Consumption

Economic conditions likely improved somewhat in the second quarter, after GDP contracted in Q1. Crude oil output expanded year-on-year, contrasting the decline posted in Q1. Moreover, growth in natural gas production accelerated notably in Q2, which bodes well for the energy sector. That said, ongoing restrictions to contain the spread of the virus likely continued to hamper the non-energy sector in Q2, and the introduction of a VAT in mid-April is expected to have dampened consumer spending. Turning to Q3, new Covid-19 cases have tapered in recent weeks and authorities eased some restrictions on daily life and on travel, which should be supporting activity somewhat. Meanwhile, the energy sector is likely continuing to expand robustly in Q3 as crude oil output grew at a rapid pace in July, while natural gas production hit a fresh record high in the same month.

Oman - Consumption Data

2015   2016   2017   2018   2019  
Consumption (annual variation in %)0.7  -0.5  5.9  0.6  -     

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Oman Facts

Value Change Date
Exchange Rate0.390.06 %Dec 31

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