Economy of Oman
Economy of Oman
Currency
Omani Rial (RO) = 1000 baisas
Fiscal year
Calendar year
Trade
organisations
WTO
Statistics
GDP
$67.45 billion (2008 est.)
GDP growth
6.2% (2008 est.)
GDP per capita $20,400 (2008 est.)
GDP by sector
agriculture 2.1%, industry 37.2%,
services 60.7% (2008 est.)
Inflation (CPI)
13.5% (2008 est.)
Labour force
920,000 (2002 est.)
Unemployment 15% (2004 est)
Main
industries
crude oil production and refining,
natural and liquefied natural gas
(LNG) production; construction,
cement, copper, steel, chemicals,
optic fiber
External
Exports
$33.9 billion f.o.b. (2008 est.)
Export goods
petroleum, reexports, fish, metals,
textiles
Main export
partners
China 26.8%, South Korea 15.2%,
Japan 14.3%, Thailand 10.4%, United
Arab Emirates 7.6%, United States
4.3%, Iran 4.1% (2007)
Imports
$13.32 billion f.o.b. (2008 est.)
Import goods
machinery and transport equipment,
manufactured goods, food,
livestock,lubricants
Main import
partners
United Arab Emirates 19.3%, Japan
17.6%, United States 7.4%, Germany
5.2%, India 4.1% (2007)
Public finances
Public Debt
2.4% of GDP (2008 est.)
Revenues
$18.41 billion (2008 est.)
Expenses
$14.74 billion (2008 est.)
Economic aid
donor: pledged $1 million to Darfur
refugees (2008)
All values, unless otherwise stated, are in US dollars
Oman is a remarkably stable country in the
Middle East. Current GDP per capita has ex-
panded continuously in the past half-a-cen-
tury. It grew 339% in the Sixties reaching a
peak growth of 1,370% in the Seventies scal-
ing back to modest 12% growth in the turbu-
lent Eighties and rising again to 34% in the
Nineties.
Macro-economic trend
This is a chart of trend of gross domestic
product of Oman at market prices estimated
by the International Monetary Fund with fig-
ures in millions of Omani Rials.
For purchasing power parity comparisons,
the US Dollar is exchanged at 0.29 Omani Ri-
als only. Average wages in 2007 hover
around $76–92 per day.
Economy - overview
Oman’s economic performance improved sig-
nificantly in 1999 due lar