Latest news with #NCSI
Observer
3 days ago
- Business
- Observer
Oman sees surge in US investment
MUSCAT: The United States of America emerged as the leading source of foreign direct investment into Oman in early 2025, with American inflows rising by 57.7% as investor confidence in the Sultanate's economic direction strengthened. According to the latest bulletin released by the National Centre for Statistics and Information (NCSI), the US accounted for more than RO 2.8 billion in new investments, overtaking the United Kingdom, which maintained a strong position with a 21% increase in FDI, reaching RO 2.7 billion. Switzerland also stood out, recording a 101.9% jump in investments, while regional interest from Qatar rose sharply by 65.3%. The rise in US investments is being interpreted by analysts as a long-term vote of confidence in Oman's energy reforms and industrial policies. The Sultanate's push to enhance economic diversification, coupled with regulatory clarity and enhanced investor protections, has made Oman an increasingly attractive destination for global capital. The total value of FDI inflows reached RO 30.6 billion, up from RO 25.4 billion in Q1 2024. This significant increase of over RO 5 billion highlights growing international investor interest in Oman. By contrast, the same period last year saw more modest growth of around 8%, with capital inflows concentrated largely in traditional energy sectors. The 2025 figures reflect not only larger volumes but also a broader diversification of investor countries and sectors, indicating a structural shift in Oman's FDI landscape. Much of the 2025 growth was driven by heightened activity in strategic sectors including oil and gas exploration, manufacturing, and financial intermediation. The oil and gas sector alone attracted over RO 4.8 billion, a 24.2% increase, while manufacturing investments grew by 27.5%. In addition to hydrocarbons, the manufacturing sector saw significant gains, particularly in chemicals, base metals, and plastics. The government's localisation strategies and focus on value-added production appear to be drawing sustained interest from foreign investors seeking regional manufacturing hubs. Economic experts attribute the FDI uptick to a combination of favourable reforms, improved investment climate, and Oman's strategic geographic position. Efforts under Oman Vision 2040, aimed at reducing dependency on oil, enhancing the private sector's role, and boosting global trade connectivity, are translating into measurable economic inflows. Further supporting the investment momentum are bilateral partnerships, tax incentives in economic zones, and infrastructure upgrades across ports, logistics corridors and energy systems. The outlook for FDI in Oman remains optimistic. As global investors look to diversify their portfolios in a volatile geopolitical environment, Oman's political stability, economic reforms, and improving credit profile continue to offer a reliable gateway into the wider Middle East and Indian Ocean regions.
Observer
5 days ago
- Business
- Observer
Oman's inflation rises 0.6% in May
MUSCAT: The Sultanate of Oman recorded a 0.6 per cent increase in its General Consumer Price Index (CPI) in May 2025, compared to the same month in 2024, according to data released by the National Centre for Statistics and Information (NCSI). The rise in inflation was primarily driven by higher prices in the personal goods and miscellaneous services group, which surged by 6.4 per cent. The transportation group followed with a 2.4 per cent increase, while prices in the restaurants and hotels group rose by 1.4 per cent. Other sectors also saw moderate increases: the health group by 0.8 per cent, clothing and footwear by 0.6 per cent, culture and entertainment by 0.3 per cent, and education by 0.1 per cent. On the other hand, the food and non-alcoholic beverages group registered a 0.8 per cent decline, while prices for furniture, household equipment, and routine maintenance fell by 0.2 per cent. Prices in the housing, utilities, communication, and tobacco categories remained stable year-on-year. Drilling deeper into the food and beverage group, prices for sugar, jam, honey, and sweets rose by 3.7 per cent, while other unclassified food items increased by 3.6 per cent. Dairy products including milk, cheese, and eggs recorded a 1.9 per cent rise, oils and fats were up by 1.8 per cent, and meat prices inched up by 0.2 per cent. In contrast, vegetable prices fell sharply by 8.6 per cent. Fish and seafood declined by 2.3 per cent, fruits by 1.6 per cent, and non-alcoholic beverages by 0.1 per cent. Prices for bread and grains remained unchanged. Among Oman's governorates, Al Dakhiliyah posted the highest inflation rate at 1.5 per cent, followed by Musandam at 1.1 per cent and South Al Sharqiyah at 1.0 per cent. Other notable increases were seen in Al Dhahirah (0.9%), Muscat (0.8%), Al Wusta (0.6%), Al Buraimi (0.4%), Dhofar (0.3%), and North Al Batinah (0.2%). Conversely, South Al Batinah and North Al Sharqiyah recorded a year-on-year decline in inflation, at -0.4 per cent and -0.1 per cent respectively. — ONA
Times of Oman
5 days ago
- Business
- Times of Oman
Consumer Price Index in Oman rises by 0.6% in May 2025
Muscat: The Consumer Price Index (CPI) in the Sultanate of Oman recorded a 0.6% increase in May 2025 compared to the same month last year, according to data released by the National Centre for Statistics and Information (NCSI). The report showed that personal goods and miscellaneous services led price increases with a 6.4% rise, followed by transportation (2.4%), and restaurants and hotels (1.4%). Health services saw a 0.8% increase, while clothing and footwear prices rose by 0.6%, and culture/entertainment by 0.3%. Education costs experienced a marginal 0.1% uptick. Conversely, food and non-alcoholic beverage prices decreased by 0.8%, while furniture/household equipment/maintenance costs fell by 0.2%. Housing/utilities/fuel and tobacco prices remained stable. Within the food category, sugar/jam/honey/sweets prices surged 3.7%, followed by other food products (3.6%). Dairy/cheese/egg prices increased 1.9%, oils/fats rose 1.8%, and meat prices edged up 0.2%. However, vegetable prices dropped significantly by 8.6%, with fish/seafood declining 2.3% and fruits decreasing 1.6%. In term of governorates, Al Dakhiliyah Governorate recorded the highest inflation rate at 1.5%, followed by Musandam (1.1%) and South Al Sharqiyah (1.0%). Al Buraimi (0.4%) and Dhofar (0.3%) showed more moderate increases, while South Al Batinah and North Al Sharqiyah experienced deflation of 0.4% and 0.1% respectively.
Observer
7 days ago
- Business
- Observer
Oman's labour force tops 1.8 million in Q1
MUSCAT, JUNE 21 Oman's labour market remained broadly stable in the first quarter of 2025, with the total number of workers reaching 1,808,451, reflecting a marginal increase of 0.2 per cent compared to the same period in 2024, according to the latest data released by the National Centre for Statistics and Information (NCSI). The report highlights the critical role of micro, small, and medium enterprises (MSMEs) in sustaining employment. Micro-enterprises, which typically employ fewer than five workers, accounted for the largest share of employment at 37.5 per cent, with 677,860 workers on record. Small enterprises followed with 29.7 per cent (537,079 workers), while large enterprises accounted for 24.3 per cent (438,212), and medium-sized enterprises employed 8.5 per cent (153,094). By economic sector, the private sector continued to lead employment with 1,409,215 workers, although this marked a slight 0.9 per cent decrease from the previous year. The family sector—which includes domestic and informal workers—grew by 4.7 per cent to reach 349,517 employees, while the public sector recorded a modest decline of 0.6 per cent, employing 41,815 workers. Expatriate workers continued to form a significant portion of the workforce, led by nationals from Bangladesh (622,078, down 9.1 per cent), India (507,956, broadly stable), and Pakistan (314,997, up 8.8 per cent). These three nationalities alone represent over 80 per cent of the expatriate labour force in Oman. Meanwhile, the job seekers' rate stood at 4.0 per cent in May 2025. The highest levels of unemployment were observed among young people aged 15 to 24 years, as well as those holding higher diplomas and bachelor's degrees, indicating a persistent mismatch between education outcomes and labour market needs. The latest labour market figures come as Oman intensifies efforts to align workforce development with economic diversification goals under Oman Vision 2040. Recent policy directions have focused on improving private sector participation, enhancing vocational and digital skills, and supporting small business development to boost job creation.
Times of Oman
17-06-2025
- Automotive
- Times of Oman
Oman's refinery output declines marginally by end of April
Muscat: The total output of refineries in the Sultanate of Oman saw a slight decline of 0.1 percent by the end of April 2025, while the production of automotive fuel in April 2025 decreased by 4.6 percent compared to the previous month, according to preliminary statistics released by the National Centre for Statistics and Information (NCSI). The statistics revealed that the production of regular gasoline (91) increased by 9.8 percent by the end of April 2025 compared to the same period in 2024, reaching 5,782,100 barrels, up from 5,265,500 barrels by the end of April 2024. Sales also rose by 2.5 percent, totaling 4,558,600 barrels compared to 4,446,900 barrels by the end of April 2024. In contrast, the production of premium gasoline (95) declined by 0.3 percent compared to April 2024, reaching 4,108,700 barrels, down from 4,122,800 barrels during the same period last year. Despite this drop in production, sales increased by 1.7 percent, reaching 4,229,400 barrels compared to 4,158,900 barrels by the end of April 2024. The production of gas oil (diesel) decreased by 0.7 percent, recording 10,326,900 barrels compared to 10,399,200 barrels by the end of April 2024. However, sales rose by 4.9 percent, reaching 4,665,300 barrels compared to 4,446,700 barrels in the same period last year. Jet fuel production declined by 8.1 percent, totaling 3,378,000 barrels compared to 3,674,300 barrels by the end of April 2024. Sales also fell by 8.7 percent, reaching 1,247,500 barrels compared to 1,366,700 barrels. As for liquefied petroleum gas (LPG), production reached 2,364,000 barrels, marking a 6.7 percent decline from the same period in 2024, when production stood at 2,534,600 barrels. Conversely, sales surged by 20.2 percent, reaching 1,303,800 barrels compared to 1,084,500 barrels by the end of April 2024. Regarding petrochemicals, the statistics showed an 8.7 percent increase in benzene production, reaching 59,500 metric tons compared to 54,800 metric tons by the end of April 2024. Paraxylene production rose by 10.5 percent, reaching 196,700 metric tons by the end of April 2025. On the other hand, polypropylene production declined by 6.9 percent, recording 112,400 metric tons compared to 120,800 metric tons during the same period last year. Despite this drop in production, sales saw a significant surge of 461.9 percent, reaching 10,800 metric tons compared to 1,900 metric tons in the same period last year. Oman's exports of regular gasoline (91) increased by 4.7 percent by the end of April 2025, reaching 1,041,100 barrels compared to 994,500 barrels by the end of April 2024. Meanwhile, exports of premium gasoline (95) saw a notable rise of 66.3 percent, reaching 690,700 barrels compared to 415,400 barrels in the same period last year. In contrast, gas oil (diesel) exports declined by 23.4 percent, recording 4,560,100 barrels compared to 5,956,500 barrels by the end of April 2024. Jet fuel exports also decreased by 7 percent, reaching 2,046,200 barrels compared to 2,199,500 barrels by the end of April 2024. LPG exports witnessed a sharp decline of 69.8 percent, totaling 53,500 barrels compared to 177,000 barrels by the end of April 2024. Benzene exports by the end of April 2025 reached approximately 58,200 metric tons, marking a 3.6 percent increase compared to 56,100 metric tons by the end of April 2024. Paraxylene exports rose by 29.2 percent, reaching 228,100 metric tons compared to 176,600 metric tons in the same period last year. Meanwhile, polypropylene exports reached 79,200 metric tons, reflecting a 3.8 percent increase compared to 76,300 metric tons by the end of April 2024.
