Micro enterprises in the sultanate saw the highest growth, rising by 36.8% to reach $2.83bln

The in-country value (ICV) of active enterprises in Oman reached 9.09 billion riyals ($23.5 billion) during the second quarter of 2023, contributing to 90.1% of the total GDP over the period, with a substantial growth in micro-enterprises.

According to data released by the National Centre for Statistics and Information (NCSI), the GDP contribution in Q2 2023 reported a 4% rise compared to the same period in 2022.

Large enterprises, which accounted for RO 6.4 billion of the total ICV, witnessed a year-on-year decline of 12.7% to constitute for 63.7% of the total value. Meanwhile, the ICV of medium enterprises reached RO 724 million, constituting 7.2% of the value, while reporting a 10.1% rise over the same period in 2022. The ICV of small enterprises stood at RO 851 million, comprising 8.4% of the share and witnessing an increase of 30.5% over the previous year.

The number of employees in active enterprises in Oman increased by 11.1% to reach 1.77 million during Q2 2023 compared to 1.59 million employees over the same period last year. The number of private enterprises reached 227,609 in Q2 2023, up by 13.5% compared to the same period in 2022.

Source: Zawya