OMAN’S economy expanded 2 per cent in the third quarter of 2025, supported by steady growth in non-oil activities, while bank lending continued to rise faster than deposits, underscoring improving domestic demand, reports the Arab News.
Gross domestic product at constant prices reached about 9.91 billion Omani rials ($26bn) in the three months through September, up from 9.71bn rials a year earlier, according to preliminary data from the National Centre for Statistics and Information.
The expansion was driven mainly by non-oil sectors, where value added increased 2pc to more than 7.3bn rials, Oman News Agency (ONA) reported.
This comes after Fitch Ratings recently upgraded Oman’s sovereign credit rating to investment grade at BBB-, projecting GDP growth of around 4pc in 2025, driven largely by robust expansion in the non-oil sector.
Meanwhile, S&P Global Ratings expects steady real GDP growth of about 2pc a year through 2028, supported by ongoing economic diversification and momentum in the services sector.
“By economic activity, construction activities grew 1.3pc to around 1.035bn rials, while wholesale and retail trade increased 1.3pc to 830.5 million rials. Public administration and defence rose 1.5pc, reaching 932.5m rials in Q3 2025,” the ONA report stated.
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