Economy of Oman
Population: 4.83 M (2018)
GDP per Capita: 16,415 USD (2018)
79,280 M.

GDP USD

(2018)

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46,190 M.

EXPORTS USD

(2018)

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35,300 M.

IMPORTS USD

(2018)

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47.50 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 1.76 % (2018)
GDP of 2010 USD USD 76.30 B. (2018)
GDP Current USD USD 79.28 B. (2018)
GDP per Capita Current USD USD 16,415 (2018)
GDP per capita, PPP USD 37,143 (2018)
GDP per Capita, 2010 USD USD 15,797 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 24.75 % (2018)
Government Spending USD 19.62 B. (2018)
Government Debt % GDP 47.50 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 137.55 (2018)
Trade Openness 102.78 % (2018)
Exports of Goods and Services % GDP 58.26 % (2018)
Exports Goods & Services USD 46.19 B. (2018)
Exports Annual Growth 12.74 % (2018)
Imports as % GDP 44.52 % (2018)
Total Imports USD 35.30 B. (2018)
Foreign Direct Investment % GDP 8.00 % (2018)
Foreign Direct Investment USD 6.34 B. (2018)
Current Account Balance % GDP USD -5.48 % (2018)
Current Account Balance USD -4.35 B. (2018)
Trade Balance % GDP 13.73 % (2018)
Trade Balance USD 10.89 B. (2018)
Foreign Exchange Reserves incl Gold USD 17.39 B. (2018)
Remittances % GDP 0.05 % (2018)
Remittances 0.05 % (2018)
Balance of Payments USD 745 M. (2013)

Labor Market

Indicator Value
Labor Force 2.79 M. (2019)
Unemployment Rate 3.08 % (2019)
Unemployment Rate Females 11.91 % (2019)
Unemployment Rate Males 1.32 % (2019)
Youth Unemployment (ages 15-24) 8.41 % (2019)
Labor Force Participation Rate 72.21 % (2019)
Labor Force (Percent Female) 12.73 % (2019)
Female Labor Force Participation Rate 30.93 % (2019)
Male Labor Force Participation Rate 89.39 % (2019)
Dependent People 32.70 % (2018)

Agriculture Sector

Indicator Value
Forest Area
Forest Area km² 20 km² (2016)
Agricultural Land 4.64 % (2016)
Agricultural Land km² 14,360 km² (2016)
Employment 4.68 % (2019)
Value added % GDP 2.21 % (2018)
Agriculture Value added USD 1.75 B. (2018)
Crop Production Index 148.30 (2016)
Precipitation 125 mm (2014)
Arable Land 0 % (2016)
Cereal Yield 12,964 kg/hectare (2017)
Food production index 146 (2016)
Rural Population 15 % (2018)
Fertilizer use of Arable Land 468 kg/hectare (2016)
Livestock Production Index 138 (2016)
Economy of Oman

According to the World Bank and its latest published data, the economy of the Oman presents a growth rate of 1.76 % (2018) to the previous year.

With a population that reaches 4.83 M (2018) and a gross domestic product of USD 79.28 B. (2018), it translates a Gross Domestic Product per Capita of USD 16,415 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Oman also has a workforce of 2.79 M. (2019) with an unemployment rate of 3.08 % (2019), where women represent 11.91 % (2019) and men 1.32 % (2019), the unemployment rate for young people between 15-24 years old stood at 8.41 % (2019). The total number of dependent people stands at 32.70 % (2018).

The central government spent 24.75 % (2018) of its gross domestic product that year, which in absolute terms is USD 19.62 B. (2018). Its consolidated public debt reached 47.50 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Oman exported USD 46.19 B. (2018), which represents 58.26 % (2018) of its gross domestic product, in that same sense its imports reached USD 35.30 B. (2018) with a direct foreign investment of USD 6.34 B. (2018).

Oman has a forest area of 20 km² (2016), which represents of its total area, an average rainfall of 125 mm (2014) per year and a population of 15 % (2018) living in rural areas. With a total area of 14,360 km² (2016) available for agriculture and 4.68 % (2019) of its employments, the agricultural sector contributes to the economy of the Oman about USD 1.75 B. (2018) (2.21 % (2018) of its GDP).