Oman: Attracting Diverse Investments
The Gulf country seeks to grow its economy beyond hydrocarbons.
Oman GDP and Economic Data
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Oman economic outlook, debt to GDP ratio, international trade performance and population trends.
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GDP (Purchasing Power Parity)
Intl$ 198.5 billion (2018, estimate)
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Real GDP growth
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 1.4% | 4.7% | 5.0% | -0.9% | 2.1% |
*Estimate
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GDP - composition by sector
- agriculture: 2.2%
- industry: 47.1%
- services: 46.6%
(2016 estimate)
Inflation
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 0.1% | 1.1% | 1.6% | 0.9% | 0.8% |
*Estimate
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Public debt (General government gross debt as a % of GDP)
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 15.5% | 32.7% | 46.4% | 53.4% | 59.9% |
*Estimate
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Public deficit (General government net lending/borrowing as a % of GDP)
| 2014 | 2015 | 2016 | 2017* | 2018* |
| -15.9% | -21.3% | -14.0% | -7.9% | -6.7% |
*Estimate
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Government bond ratings
Standard & Poor's: BB
Moody's: Ba1
Standard & Poor's / Moody's (Updated as of January 24th 2017)
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Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 23.3 billion | USD 21.3 billion | USD 18.8 billion |
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Current account balance by percentage of GDP
-5.5 % (2018 estimate)
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Exports as percent of GDP (Exports of goods and services)
60.2% (2018)
Shares in world total merchandising export
0.24% (2018)
Shares in world total commercial services export
0.07% (2017)
Export commodities
Petroleum, reexports, fish, metals, textiles
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Import commodities
Machinery and transport equipment, manufactured goods, food, livestock, lubricants
Exports - major partners
China 43.7%, UAE 11%, South Korea 7.9%, Saudi Arabia 4.2% (2017)
Imports - major partners
UAE 35.5%, US 27.8%, Brazil 4% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 2,265 million | USD 2,918 million | USD 4,191 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 356 million | USD 2,424 million | USD 567 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD -1,044 million | USD -105 million | USD 1,350 million | USD 78 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 68 out of 190 countries (2019)
Subcategories:
Starting a Business: 32 out of 190 countries
Dealing with Construction Permits: 47 out of 190 countries
Getting Electricity: 35 out of 190 countries
Registering Property: 52 out of 190 countries
Getting Credit: 144 out of 190 countries
Protecting Minority Investors: 88 out of 190 countries
Paying Taxes: 11 out of 190 countries
Trading across Borders: 64 out of 190 countries
Enforcing Contracts: 69 out of 190 countries
Resolving Insolvency: 97 out of 190 countries
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Global competitiveness ranking
53 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 88 / Score: 61 (Moderately free) (2019)
(100=totally free 0=totally repressed)
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Languages
Arabic (official), English, Baluchi, Urdu, Indian dialects
Religions
Muslim (official; majority are Ibadhi, lesser numbers of Sunni and Shia) 85.9%, Christian 6.5%, Hindu 5.5%, Buddhist 0.8%, Jewish <0.1%, other 1%, unaffiliated 0.2% (2010 est.)
Note: approximately 75% of Omani citizens, who compose almost 70% of the country's total population, are Ibadhi Muslims; the Omani government does not keep statistics on religious affiliation (2013)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 1.843 million | 2.402 million | 2.885 million | 3.957 million | 4.619 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 16% | 48% | 72% | 78% |
Literacy
Total population: 91.1%
Male: 93.6%
Female: 85.6% (2015 est.)
(age 15 and over can read and write)
Freedom House rating
Political Rights: 6
Civil Liberties: 5 (2017)
(1 represents the most free, 7 the least free rating)
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Total telephone subscribers as % of population
Fixed 10.46% Mobile 159.86% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)