Prime Highlights:
- Oman’s economy grew 2% in Q3 2025, led by strong performance in non-oil sectors.
- Bank lending continued to rise faster than deposits, showing growing domestic demand.
Key Facts:
- Private sector loans reached 21.9 billion rials, while total bank deposits grew to 26.4 billion rials.
- Fitch Ratings upgraded Oman’s sovereign credit to investment grade (BBB-), signaling a positive economic outlook.
Background:
Oman’s economy grew 2% in Q3 2025, driven by non-oil sectors. Bank lending also grew faster than deposits, showing stronger domestic demand.
Preliminary data from the National Centre for Statistics and Information (NCSI) shows that the country’s GDP at constant prices reached 9.91 billion Omani rials ($26 billion) in the three months ending September, up from 9.71 billion rials in the same period last year.
Non-oil sectors contributed significantly to the growth, with value added increasing 2 percent to over 7.3 billion rials, Oman News Agency (ONA) reported. Fitch Ratings recently upgraded Oman’s sovereign credit rating to investment grade (BBB-) and expects the country’s GDP to grow around 4 percent in 2025, mainly due to non-oil sectors. S&P Global Ratings predicts Oman will maintain steady GDP growth of about 2 percent each year through 2028, supported by economic diversification and strong performance in the services sector.
By sector, construction grew 1.3 percent to 1.035 billion rials, wholesale and retail trade rose 1.3 percent to 830.5 million rials, and public administration and defense increased 1.5 percent to 932.5 million rials. Oil sector activities also showed growth, climbing 1.9 percent to nearly 3.07 billion rials, with crude oil production up 2 percent and natural gas activities increasing 1.6 percent.
The numbers show steady growth, with Oman’s non-oil sectors and diversification helping keep the economy stable and attracting investors.
