"Gulf Statistical Centre": Great economic and social achievements achieved by the Sultanate of Oman
Muscat, November 20 / WAM / The Statistical Center for the Cooperation Council for the Arab States of the Gulf said that the Sultanate of Oman celebrates its National Day, which falls on November 20 of each year, in light of great economic and social achievements that have strengthened its position and placed it among the highest levels of development.
The Center added in its report that the Sultanate of Oman continues to achieve remarkable economic progress thanks to the economic diversification strategy, as the relative contribution of non-oil sectors to the GDP at current prices for the year 2024 AD amounted to 68.2% compared to 66.7% for the year 2023 AD, while the value of the GDP at current prices for the year 2024 AD amounted to about 107.1 billion US dollars compared to 75.9 billion dollars for the year 2020 AD. With a growth rate of 41.1%, the contribution of manufacturing activities reached 10.0% for the year 2024 AD.
The report explained that merchandise trade witnessed a growth of 81.3%, with a value reaching 109 billion US dollars in 2024, compared to 60.1 billion dollars in 2020. Merchandise exports also increased to 65.2 billion dollars in 2024, compared to 31.8 billion dollars in 2020, with a growth rate of 104.9%, while the trade balance recorded a surplus of 21.3. One billion dollars in 2024, compared to 3.5 billion dollars in 2020.
He stated that the Sultanate has achieved remarkable financial progress, as the value of total assets in commercial banks reached $115.9 billion in 2024 compared to $93.2 billion in 2020, recording a growth of 24.4%. Foreign reserve assets also reached $18.4 billion in 2024 compared to $15.0 billion in 2020, a growth rate of 22.5%.
The report indicated that the tourism sector witnessed remarkable growth, as the number of hotel establishments increased to 1,031 establishments in 2024 AD, compared to 548 establishments in 2020 AD, with a growth rate of 88.1%, and the number of tourists reached 2.7 million tourists in 2024 AD, and their spending amounted to about 2.6 billion dollars.
He said that the number of government and private hospitals reached 94 in 2024, and the rate of human doctors per 10,000 people reached 21.4 doctors, which reflects the quality and development of the health sector.
He pointed out that the number of students in school education increased to 897.7 thousand students in the 2023/2024 academic year, compared to 748.8 thousand in 2019/2020 AD, a growth rate of 19.9%, and the literacy rate among young people (15-24 years old) reached about 99.6%.
He added that Oman ranked fourth globally in the Quality of Life Index for the year 2025, and also ranked fourth globally in the Safest Peoples Index according to the Gallup report, in addition to topping the index of least polluted countries regionally for the year 2025.
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