Economic Trivia

Oman's foreign workers send an estimated $30 billion USD annually to their homes.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2017): United Arab Emirates, India, and China
Top 3 Exported Goods (2017): Oil & Mineral Fuels, Motor Vehicles & Parts, and Organic Chemicals

Top Industries Source: CIA World Factbook

Crude Oil Production and Refining; Natural and Liquefied Natural Gas (Lng) Production; Construction; Cement

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $191,622,180,532 (2017)
GDP Growth Rate (annual %) -0.928% (2017)
GDP Per Capita, PPP (current international) $41,331 (2017)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 69/195 (2017)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 1.597% (2017)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 27.4% (2018)
Real Interest Rate (5 year average %) -2.947% (2017)
Manufacturing, value added (% of GDP) 37.284% (2017)
Current Account Balance (BoP, current US$) ($10,763,589,077) (2017)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 2,711,530 (2018)
Employment in Agriculture (% of total employment) 4.735% (2018)
Employment in Industry (% of total employment) 36.248% (2018)
Employment in Services (% of total employment) 59.018% (2018)
Unemployment Rate 3.113% (2018)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $34,894,668,401 (2017)
Exports of goods and services (current US$) $36,894,668,401 (2017)
Total Merchandise Trade (% of GDP) 83.831% (2017)
FDI, net inflows (BoP, current US$) $2,918,075,423 (2017)
Commercial Service Exports (current US$) $4,010,403,121 (2017)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Oman’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Sources

  1. The World Bank