Monday 17 / November / 2025
Muscat— A report issued by the Statistical Centre for the Gulf Cooperation Council States (GCC-Stat) highlighted that the Sultanate of Oman's celebration of its glorious National Day comes amidst significant economic and social achievements that have enhanced its standing and placed it among the highest levels of development.
The report indicated that Oman continues to achieve remarkable economic progress thanks to its economic diversification strategy, which aims to reduce reliance on oil and increase the contribution of non-oil sectors to the national economy. The relative contribution of non-oil sectors to the Gross Domestic Product at current prices in 2024 reached 68.2%, compared to 66.7% the previous year.
Oman's Gross Domestic Product at current prices rose by 4.7% by the end of the first quarter of 2025, reaching RO 10,530.2 million (at market prices), compared to RO 10,056.6 million during the same period in 2024.
This growth in GDP is primarily attributed to an increase in non-oil activities, which grew by 4.1% to reach RO 7,132.6 million by the end of the first quarter of this year, compared to RO 6,850.4 million at the end of the corresponding quarter in 2024.
Oman's trade balance recorded a surplus of RO 3,088 million by the end of June 2025, compared to a surplus of RO 4,697 million during the same period in 2024, registering a decrease of 34.3%.
Oman has achieved numerous financial milestones reflecting its continuous efforts to achieve financial stability. The total assets in commercial banks reached RO 44,500 million in 2024 compared to RO 35,800 million in 2020, recording a growth rate of 24.4%. The value of foreign reserve assets reached RO 7,100 million in 2024, compared to RO 5,700 million in 2020, with a growth rate of 22.5%.
In the tourism sector, Oman has continued to focus on developing the sector over recent years, establishing it as a distinguished global tourist destination. The sector has seen significant infrastructure development, with the total number of hotel establishments reaching 1,031 in 2024 compared to 548 in 2020, marking a growth of 88.1%. The number of incoming tourists in 2024 reached approximately 2.7 million, with their total expenditure according to the main purpose of the trip amounting to nearly $2.6 billion USD for the same year.
In its commitment to providing the highest standards of healthcare, Oman has worked to establish hospitals of global quality by all standards. Their number reached 94 government and private hospitals according to the latest 2024 data, staffed by professional medical personnel whose capabilities have been developed and enhanced. The rate of medical doctors per 10,000 people reached 21.4.
Oman is dedicated to graduating a generation of nationals capable of serving their country and meeting its needs. The focus on education and its development has led to an increase in the number of school students, reaching 897.7 thousand in the 2023/2024 school year, compared to 748.8 thousand in the 2019/2020 school year, a growth rate of 19.9%. The youth literacy rate (ages 15-24) for 2024 reached about 99.6%.
In the field of global competitiveness, Oman achieved advanced positions in several international reports, reflecting the sincere efforts and policies adopted by the Sultanate of Oman. It ranked fourth globally in the Quality of Life Index for 2025, and also fourth globally in the list of countries where populations feel the safest, according to the Gallup International report for 2025. Furthermore, it was ranked first regionally among the least polluted countries, according to the global Pollution Index for 2025 issued by the "Numbeo" platform.
The report from the GCC Statistical Centre confirmed that the march of achievement and developmental progress in the Sultanate of Oman is pressing ahead with steady steps towards a more prosperous future under the wise leadership of His Majesty Sultan Haitham bin Tarik.
