Trade surplus rises 37.2% to 3.4B Omani Rials
Oman's economy experienced significant growth in the first quarter of the year, with gross domestic product (GDP) rising by 2.6% to reach 9.69 billion riyals. Foreign direct investment increased by 8.7%,amounting to 32.19 billion riyals. The trade balance surplus also grew by 37.2%, reaching 3.4 billion riyals. Tourism is contributing increasingly to the GDP, while commercial activities are being warned against concealing revenues. Additionally, the region saw a rise in local activities and rain opportunities in the Hajar and Dhofar mountains. The area is also facing tensions discussed in statements regarding the Strait of Hormuz and attacks on Emirati ships, amid American movements in the region.
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