Oman's real gross domestic product (GDP) fell by 1.6% in the first quarter of 2019, state-run Oman news agency reported on Saturday quoting the National Center for Statistics and Information (NCSI). Oman's GDP totalled 7.066 billion Omani rials ($18.4 billion) in the first quarter of 2019.

The small Gulf Sultanate's oil GDP also fell by 0.5% year-on-year to 2.412 billion Omani Rials ($6.28 billion) due to lower oil prices, NCSI was cited as saying. Oman's financial position is among the weakest of the Gulf oil exporters, with gross government debt at 53.5% of GDP last year, according to the IMF.

Copyright Reuters, 2019