Oman's gross domestic product (GDP) amounted to 7.6 billion riyals ($19.7 billion) last year against 6 billion riyals ($15.56 billion) in 1999, a 26.7 percent surge, reported the Gulf News on Sunday.
According to the Omani Ministry of National Economy, the total value from oil-related activities, which include extraction of gas, reached 3.73 billion riyals ($9.6 billion) last year from 2.63 billion rials ($6.83 billion) in 1999, a 57.7 percent rise.
"Despite the negative effect of the foreign economic environment, deterioration in oil prices and slump in the capital market, the industrial sector achieved an average annual growth of 5.23 percent during the fifth five-year plan (1996-2000) against the target of 8.7 percent," said Hamad bin Hashim Al Dhahab, director-general of industry in the ministry of commerce and industry – Albawaba.com
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