Industry

Growth in Oman’s industrial and retail sectors has been affected by both commodity prices and weaker consumer sentiment, which have lowered spending and forced some companies in heavy industry to delay investment programmes. However, the impact of the costs borne by the sultanate’s manufacturers was offset somewhat in 2017 by the rise in exports to Qatar following the blockade of that country’s trade. The government is investing heavily in combatting hydrocarbons dependence and facilitating the development of a more diversified economic base. Manufacturing has been prioritised as one of the pillars of this strategy under the Tanfeedh programme for national economic diversification.