Oman: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Oman's foreign workers send an estimated $30 billion USD annually to their homes. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): United Arab Emirates, India, and Saudi Arabia |
| 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) | $190,943,008,184 (2022) |
| GDP Growth Rate (annual %) | 4.311% (2022) |
| GDP Per Capita, PPP (current international) | $41,724 (2022) |
GDP Country Rank 76/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 2.812% (2022) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 27.4% (2019) |
| Real Interest Rate (5 year average %) | -6.387% (2021) |
| Manufacturing, value added (% of GDP) | 10.496% (2022) |
| Current Account Balance (BoP, current US$) | ($4,288,219,680) (2021) |
Labor and Employment [1]
| Labor Force, Total | 2,243,287 (2022) |
| Employment in Agriculture (% of total employment) | 4.123% (2021) |
| Employment in Industry (% of total employment) | 48.282% (2021) |
| Employment in Services (% of total employment) | 47.595% (2021) |
| Unemployment Rate | 2.327% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $36,502,257,477 (2021) |
| Exports of goods and services (current US$) | $46,324,248,895 (2021) |
| Total Merchandise Trade (% of GDP) | 87.027% (2022) |
| FDI, net inflows (BoP, current US$) | $3,715,648,028 (2022) |
| Commercial Service Exports (current US$) | $1,733,352,049 (2021) |
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.