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 (2018): United Arab Emirates, Qatar, 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) | $158,906,626,092 (2020) |
| GDP Growth Rate (annual %) | -3.201% (2020) |
| GDP Per Capita, PPP (current international) | $31,118 (2020) |
GDP Country Rank 80/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 1.547% (2021) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 27.4% (2019) |
| Real Interest Rate (5 year average %) | 21.536% (2020) |
| Manufacturing, value added (% of GDP) | 9.679% (2021) |
| Current Account Balance (BoP, current US$) | ($8,659,758,310) (2020) |
Labor and Employment [1]
| Labor Force, Total | 2,749,195 (2021) |
| Employment in Agriculture (% of total employment) | 4.449% (2020) |
| Employment in Industry (% of total employment) | 32.841% (2020) |
| Employment in Services (% of total employment) | 62.709% (2020) |
| Unemployment Rate | 3.122% (2021) |
Trade [1]
| Imports of goods and services (current US$) | $27,224,447,334 (2020) |
| Exports of goods and services (current US$) | $32,728,998,700 (2020) |
| Total Merchandise Trade (% of GDP) | 88.227% (2021) |
| FDI, net inflows (BoP, current US$) | $2,859,557,867 (2020) |
| Commercial Service Exports (current US$) | $2,222,652,646 (2020) |
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.