VOL. XLII

No. 29

19-July-1999

OMAN

Oman Records 10.2% Contraction In GDP In 1998

According to a statement from the Central Bank of Oman(CBO), Gross Domestic Product (GDP) at current market prices contracted in 1998by 10.2%, compared to a rise of 3.4% in 1997. While the contribution of the oilsector to GDP fell by 32%, the contribution of non-oil sectors includingagriculture and services grew by 4.6%, offsetting, according to the CBO,"the decline in oil GDP." The non-oil sectors comprise...