Economy - overview:
Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves and a rapidly growing labor force, 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 and creating more jobs to employ the rising numbers of Omanis entering the workforce. 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 throughout 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: Taxes and other revenues: Budget surplus (+) or deficit (-): 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: 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: 1) The information regarding Oman on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Oman Economy 2012 information contained here. All suggestions for corrections of any errors about Oman Economy 2012 should be addressed to the CIA.
$80.89 billion (2011 est.)
country comparison to the world: 79
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$66.8 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
4.4% (2011 est.)
country comparison to the world: 91
[see also: GDP - real growth rate country ranks ]
$26,200 (2011 est.)
country comparison to the world: 51
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 1.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 51.3%
[see also: GDP - composition by sector - industry country ranks ]
services: 47.2% (2011 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: 147
[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 ]
29.5% of GDP (2011 est.)
country comparison to the world: 36
[see also: Investment (gross fixed) country ranks ]
revenues: $23.75 billion
[see also: Budget revenues country ranks ]
expenditures: $23.21 billion (2011 est.)
[see also: Budget expenditures country ranks ]
35.6% of GDP (2011 est.)
country comparison to the world: 61
[see also: Taxes and other revenues country ranks ]
0.8% of GDP (2011 est.)
country comparison to the world: 32
[see also: Budget surplus (+) or deficit (-) country ranks ]
3.8% of GDP (2011 est.)
country comparison to the world: 135
[see also: Public debt country ranks ]
4% (2011 est.)
country comparison to the world: 95
[see also: Inflation rate (consumer prices) country ranks ]
2% (31 December 2010 est.)
country comparison to the world: 144
[see also: Central bank discount rate country ranks ]
7% (31 December 2011 est.)
country comparison to the world: 140
[see also: Commercial bank prime lending rate country ranks ]
$53.08 billion (31 December 2010 est.)
country comparison to the world: 45
[see also: Stock of narrow money country ranks ]
$71.42 billion (31 December 2010 est.)
country comparison to the world: 62
[see also: Stock of broad money country ranks ]
$25.07 billion (31 December 2011 est.)
country comparison to the world: 75
[see also: Stock of domestic credit country ranks ]
$20.27 billion (31 December 2010)
country comparison to the world: 62
[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
5.1% (2011 est.)
country comparison to the world: 65
[see also: Industrial production growth rate country ranks ]
17.63 billion kWh (2009 est.)
country comparison to the world: 74
[see also: Electricity - production country ranks ]
13.25 billion kWh (2008 est.)
country comparison to the world: 79
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
867,900 bbl/day (2010 est.)
country comparison to the world: 25
[see also: Oil - production country ranks ]
142,000 bbl/day (2010 est.)
country comparison to the world: 69
[see also: Oil - consumption country ranks ]
592,300 bbl/day (2009 est.)
country comparison to the world: 27
[see also: Oil - exports country ranks ]
27,970 bbl/day (2009 est.)
country comparison to the world: 105
[see also: Oil - imports country ranks ]
24.76 billion cu m (2009 est.)
country comparison to the world: 27
[see also: Natural gas - production country ranks ]
14.72 billion cu m (2009 est.)
country comparison to the world: 39
[see also: Natural gas - consumption country ranks ]
11.54 billion cu m (2009 est.)
country comparison to the world: 20
[see also: Natural gas - exports country ranks ]
1.5 billion cu m (2009 est.)
country comparison to the world: 53
[see also: Natural gas - imports country ranks ]
849.5 billion cu m (1 January 2011 est.)
country comparison to the world: 26
[see also: Natural gas - proved reserves country ranks ]
$6.233 billion (2011 est.)
country comparison to the world: 33
[see also: Current account balance country ranks ]
$43.53 billion (2011 est.)
country comparison to the world: 60
[see also: Exports country ranks ]
petroleum, reexports, fish, metals, textiles
China 26.3%, South Korea 12.4%, Japan 12.1%, India 11.3%, UAE 10.8%, Thailand 6.6% (2010)
$21.47 billion (2011 est.)
country comparison to the world: 73
[see also: Imports country ranks ]
machinery and transport equipment, manufactured goods, food, livestock, lubricants
UAE 25.1%, Japan 15.4%, India 5.6%, US 5.5%, China 4.7% (2010)
$12.66 billion (31 December 2011 est.)
country comparison to the world: 67
[see also: Reserves of foreign exchange and gold country ranks ]
$8.99 billion (31 December 2011 est.)
country comparison to the world: 96
[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 -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
Flags
This page was last modified 07-Mar-12