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 (2018): United Arab Emirates, Qatar, and Saudi Arabia
Top 3 Exported Goods (2018): Oil & Mineral Fuels, Iron & Steel, 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) $141,532,844,819 (2019)
GDP Growth Rate (annual %) -0.825% (2019)
GDP Per Capita, PPP (current international) $28,449 (2019)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 79/197 (2019)

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 %) -0.904% (2020)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 27.4% (2019)
Real Interest Rate (5 year average %) 9.278% (2019)
Manufacturing, value added (% of GDP) 10.466% (2019)
Current Account Balance (BoP, current US$) ($4,140,327,405) (2019)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 2,678,187 (2020)
Employment in Agriculture (% of total employment) 4.449% (2020)
Employment in Industry (% of total employment) 32.841% (2020)
Employment in Services (% of total employment) 62.709% (2020)
Unemployment Rate 4.97% (2020)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $28,781,898,948 (2019)
Exports of goods and services (current US$) $39,918,699,475 (2019)
Total Merchandise Trade (% of GDP) 81.527% (2019)
FDI, net inflows (BoP, current US$) $3,419,765,930 (2019)
Commercial Service Exports (current US$) $5,000,799,457 (2019)
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