MUSCAT, 20th November, 2025 (WAM) -- As Oman marks its National Day on 20th November, the GCC Statistical Centre (GCC-Stat) highlighted the Sultanate's robust economic and social achievements, which have significantly strengthened its global standing and positioned it among the nations with the highest levels of development.

In a new report, the GCC-Stat said Oman continues to record notable economic progress driven by its diversification strategy.

The non-oil sectors' contribution to GDP at current prices reached 68.2 percent in 2024, up from to 66.7 percent in 2023. GDP at current prices stood at US$107.1 billion in 2024, comapred to US$75.9 billion in 2020, marking 41.1percent growth. Manufacturing activities contributed 10.0 percent to GDP in 2024.

The report said the valur of merchandise trade increased by 81.3 percent, reaching $109.0 billion in 2024, compared to $60.1 billion in 2020. Exports rose to $65.2 billion in 2024, up from $31.8 billion in 2020, recording 104.9 percent growth. The trade balance recorded a surplus of $21.3 billion in 2024, compared to $3.5 billion in 2020.

Total commercial bank assets rose to $115.9 billion in 2024, compared to $93.2 billion in 2020, reflecting 24.4 percent growth. Foreign reserve assets reached $18.4 billion in 2024, up from $15.0 billion in 2020, marking 22.5 percent growth.

The tourism sector continued to expand, with the number of hotel establishments rising to 1,031 in 2024, compared to 548 in 2020, an 88.1 percent increase. The number of tourists reached 2.7 million in 2024, with total spending estimated at $2.6 billion.

The number of public and private hospitals reached 94 in 2024. The ratio of physicians stood at 21.4 doctors per 10,000 people, reflecting the continued improvement of the healthcare sector.

In the education sector, the number of students increased to 897,700 in the 2023/2024 academic year compared to 748,800 in 2019/2020, marking 19.9 percent growth. Youth literacy (ages 15-24) reached 99.6 percent.

Oman ranked 4th globally in the Quality of Life Index 2025, and also came 4th globally among the world's safest nations, according to Gallup. The Sultanate topped the regional ranking of least-polluted countries for 2025.