Oman’s GDP grew by 5% in 2012 | ArabNews

"Oman’s real GDP expanded steadily over the past few years, with an estimated growth rate of 5.0 percent in 2012, which was lower than government’s target of 7.0 percent and was almost close to the IMF forecast. Oil and gas continue to dominate the Omani economy, contributing more than half of the nominal GDP and almost two-third of net fiscal revenue. However, Oman has successfully executed its diversification strategy as nonoil GDP grew 5.4 percent in 2011 from 3.1 percent in 2009, according to Gulf Investment House's review of the Oman economy.
The nonoil sector’s contribution to GDP rose considerably from 52.7 percent in 2001 to 72.2 percent in 2011. Factors such as high domestic demand, an expansionary fiscal policy and growth in the nonoil economy would bolster economic growth to average 5.1 percent over 2013–17."

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