Oman At A Crossroads

Oman At A Crossroads

Already pressed fiscally, Oman’s new leader will need to walk a fine line to restore growth and avoid domestic unrest. 

 
 
Source
Central bank

Central Bank of Oman

International Reserves

USD 17.4 billion (2018)

Gross Domestic Product - GDP

USD 82.2 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 198.5 billion (2018, estimate)

Real GDP growth
2014 2015 2016 2017* 2018*
1.4% 4.7% 5.0% -0.9% 2.1%

*Estimate

GDP per capita - current prices

USD 19,302.2 (2018, estimate)

GDP per capita - PPP

Intl$ 46,584.0 (2018, estimate)

GDP (PPP) - share of world total

0.14% (2019, estimate)

 
 
Source
GDP - composition by sector
  • agriculture: 2.2% 
  • industry: 47.1% 
  • services: 46.6%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2014 2015 2016 2017* 2018*
0.1% 1.1% 1.6% 0.9% 0.8%

*Estimate

Unemployment rate

N/A

Household saving rates

N/A

 

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

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

Government bond ratings

Standard & Poor's: BB

Moody's: Ba1

Standard & Poor's / Moody's (Updated as of January 24th 2017)

Market value of publicly traded shares
2016 2017 2018
USD 23.3 billion USD 21.3 billion USD 18.8 billion
Largest companies

Bank Muscat.

 
 
Source
Current account balance

USD -4.3 billion (2018 estimate)

Current account balance by percentage of GDP

-5.5 % (2018 estimate)

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)

Total exports

USD 36.9 billion (2017)

Export commodities

Petroleum, reexports, fish, metals, textiles

Total imports

USD 34.9 billion (2017 estimate)

 
 
Source
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

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)

 
 
Source
Time zone

UTC+4

Total area

309,500 sq km

Capital

Muscat

Currency

Omani rials (OMR)

Government type

Absolute monarchy

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

 
 
Source
Urban population as % of total population
1960 1980 2000 2015
16% 48% 72% 78%
Population median age

25.4 years (2016 estimate)

Population growth rate

2.05% (2016 estimate)

Life expectancy

75.5 years (2016 estimate)

Literacy

Total population: 91.1%
Male: 93.6%
Female: 85.6% (2015 est.)  

(age 15 and over can read and write)

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

Freedom House rating

Political Rights: 6
Civil Liberties: 5 (2017)                         

(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed 10.46%   Mobile 159.86% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

74.17% (2015)

Mercer Cost of living index

Muscat: 94th (2016)

CO2 emissions

15.7 (2013)

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