Economy - overview:
Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves, Muscat has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020. Tourism and gas-based industries are key components of the government's diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify, and the increase in global oil prices thoughout 2010 provides the government greater financial resources to invest in non-oil sectors.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Oman on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Oman Economy 2011 information contained here. All suggestions for corrections of any errors about Oman Economy 2011 should be addressed to the CIA.
$76.53 billion (2010 est.)
country comparison to the world: 80
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$53.78 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
3.6% (2010 est.)
country comparison to the world: 95
[see also: GDP - real growth rate country ranks ]
$25,800 (2010 est.)
country comparison to the world: 52
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 1.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
48.2%
[see also: GDP - composition by sector - industry country ranks ]
services:
50.3% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
968,800
country comparison to the world: 142
note:
about 60% of the labor force is non-national (2007)
[see also: Labor force country ranks ]
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
NA%
[see also: Labor force - by occupation - industry country ranks ]
services:
NA%
[see also: Labor force - by occupation - services country ranks ]
15% (2004 est.)
country comparison to the world: 151
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
26.3% of GDP (2009 est.)
country comparison to the world: 36
[see also: Investment (gross fixed) country ranks ]
revenues: $20.5 billion
[see also: Budget - revenues country ranks ]
expenditures:
$20.1 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
4.4% of GDP (2010 est.)
country comparison to the world: 129
[see also: Public debt country ranks ]
4% (2010 est.)
country comparison to the world: 116
[see also: Inflation rate (consumer prices) country ranks ]
0.05% (31 December 2009)
country comparison to the world: 135
[see also: Central bank discount rate country ranks ]
7.44% (31 December 2009 est.)
country comparison to the world: 128
[see also: Commercial bank prime lending rate country ranks ]
$7.257 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$22.35 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$22.05 billion (31 December 2010 est.)
country comparison to the world: 75
[see also: Stock of domestic credit country ranks ]
$17.3 billion (31 December 2009)
country comparison to the world: 64
[see also: Market value of publicly traded shares country ranks ]
dates, limes, bananas, alfalfa, vegetables; camels, cattle; fish
crude oil production and refining, natural and liquefied natural gas (LNG) production; construction, cement, copper, steel, chemicals, optic fiber
4.5% (2009 est.)
country comparison to the world: 74
[see also: Industrial production growth rate country ranks ]
13.58 billion kWh (2007 est.)
country comparison to the world: 83
[see also: Electricity - production country ranks ]
11.36 billion kWh (2007 est.)
country comparison to the world: 83
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
816,000 bbl/day (2009 est.)
country comparison to the world: 25
[see also: Oil - production country ranks ]
84,000 bbl/day (2009 est.)
country comparison to the world: 83
[see also: Oil - consumption country ranks ]
593,700 bbl/day (2008 est.)
country comparison to the world: 25
[see also: Oil - exports country ranks ]
17,290 bbl/day (2007 est.)
country comparison to the world: 117
[see also: Oil - imports country ranks ]
5.5 billion bbl (1 January 2010 est.)
country comparison to the world: 24
[see also: Oil - proved reserves country ranks ]
24 billion cu m (2008 est.)
country comparison to the world: 28
[see also: Natural gas - production country ranks ]
13.46 billion cu m (2008 est.)
country comparison to the world: 41
[see also: Natural gas - consumption country ranks ]
10.89 billion cu m (2008 est.)
country comparison to the world: 19
[see also: Natural gas - exports country ranks ]
350 million cu m (2008 est.)
country comparison to the world: 61
[see also: Natural gas - imports country ranks ]
849.5 billion cu m (1 January 2010 est.)
country comparison to the world: 28
[see also: Natural gas - proved reserves country ranks ]
$2.724 billion (2010 est.)
country comparison to the world: 39
[see also: Current account balance country ranks ]
$36.12 billion (2010 est.)
country comparison to the world: 60
[see also: Exports country ranks ]
petroleum, reexports, fish, metals, textiles
China 26.98%, South Korea 17.19%, Japan 12.12%, UAE 11.23%, Thailand 7.64% (2009)
$19.3 billion (2010 est.)
country comparison to the world: 73
[see also: Imports country ranks ]
machinery and transport equipment, manufactured goods, food, livestock, lubricants
UAE 22.9%, Japan 13.99%, US 6.46%, China 5.64%, India 5.27%, France 5.19%, South Korea 4.65% (2009)
$14 billion (31 December 2010 est.)
country comparison to the world: 48
[see also: Reserves of foreign exchange and gold country ranks ]
$8.829 billion (31 December 2010 est.)
country comparison to the world: 90
[see also: Debt - external country ranks ]
$NA
[see also: Stock of direct foreign investment - at home country ranks ]
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]
Omani rials (OMR) per US dollar - 0.3845 (2010), 0.3845 (2009), 0.3845 (2008), 0.3845 (2007), 0.3845 (2006)
This page was last modified 09-Feb-11