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Oman’s non-oil economy grows 5.9% as services surge despite GDP decline

July 7, 2026·Arabian BusinessEconomy

Disclaimer

This news item is AI-rewritten from public sources for GCC context. For informational purposes only. Not investment advice, a solicitation, or a recommendation. Consult a licensed financial advisor before making any investment decision.

GCC CONTEXT

Oman's services-led growth amid overall GDP contraction reflects a structural economic transition common across the GCC, where diversification away from hydrocarbon dependency has accelerated non-oil sectors including finance, tourism, and logistics. The 5.9% non-oil expansion occurs against a backdrop of lower crude output and prices, a pattern that underscores the region's reliance on fiscal management and sectoral rebalancing to sustain economic activity. This dynamic—where non-oil growth decouples from headline GDP during commodity downturns—has shaped GCC fiscal policy frameworks and investor allocation patterns across the region's equity and credit markets for the past decade.

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