Official statistics point to a robust 22.7 per cent growth in nominal GDP arriving at a record $72.7 billion (Dh266.8 billion). This surge strengthens ranking of Oman's economy as the fifth strongest among fellow Gulf Cooperation Council (GCC) countries. At $26 billion, Bahrain's GDP in nominal terms falls considerably behind that of Oman's.
Certainly the credit for positive developments in Oman's economy is goes to movements within the petroleum industry, particularly matters related to crude oil. Crude oil alone accounts for 62 per cent of treasury income.