Oman Economic Statistics and Indicators

28, May 2015, EDT. Welcome to the Oman economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Oman › Change country
National or Regional Currency: Omani Rial, OMR
Year of data: 2014 › Change year
Number of Indicators Listed: 34
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 3,219,775 ; note: immigrants make up just over 30% of the total population, according to UN data (2013) (July 2014 est.)
Area: total: 309,500 sq km ; land: 309,500 sq km ; water: 0 sq km
Natural Resources: petroleum, copper, asbestos, some marble, limestone, chromium, gypsum, natural gas
Capital: name: Muscat ; geographic coordinates: 23 37 N, 58 35 E ; time difference: UTC+4 (9 hours ahead of Washington, DC, during Standard Time)

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. However, increases in social welfare benefits, particularly since the Arab Spring, will challenge the government's ability to effectively balance its budget if oil revenues decline. 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 through 2011 provided the government greater financial resources to invest in non-oil sectors. In 2012, continued surpluses resulting from sustained high oil prices and increased enhanced oil recovery allowed the government to maintain growth in social subsidies and public sector job creation. However, the Sultan made widely reported statements indicating this would not be sustainable, and called for expanded efforts to support SME development and entrepreneurship. Government agencies and large oligarchic group companies heeded his call, announcing new initiatives to spin off non-essential functions to entrepreneurs, incubate new businesses, train and mentor up and coming business people, and provide financing for start-ups. In response to fast growth in household indebtedness, the Central Bank reduced the ceiling on personal interest loans from 8 to 7%, lowered mortgage rates, capped the percentage of consumer loans at 50% of borrower's salaries for personal loans and 60% for housing loans, and limited maximum repayment terms to 10 and 25 years respectively.
More on the Oman Economy
More on the Oman Export, Import and Trade

Economic Indicator Listing
  For Oman in year 2014 Indicator Value
GDP Growth (Constant Prices, National Currency) 3.4 %
GDP (Current Prices, National Currency)OMR 30.967 Billion.
GDP (Current Prices, US Dollars)US$ 80.539 Billion
GDP Deflator 118.775 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)OMR 7,020.73 .
GDP Per Capita (Current Prices, National Currency)OMR 8,338.87 .
GDP Per Capita (Current Prices, US Dollars)US$ 21,687.73
GDP (PPP), US DollarsUS$ 163.627 Billion
GDP Per Capita (PPP), US DollarsUS$ 44,062.02
GDP Share of World Total (PPP) 0.153 %
Implied PPP Conversion Rate 0.189
Investment (% of GDP) 28.4 %
Gross National Savings (% of GDP) 38.306 %
Inflation, Average Consumer Prices (Indexed to Year 2000) 156.103 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) 2.793 %
Inflation, End of Year (Indexed to Year 2000) 150.836 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) 2.793 %
Import Volume of All Items Including Goods and Services (Percent Change) 6.756 %
Import Volumes of Goods Only (Percent Change) 6.644 %
Export Volume of All Items Including Goods and Services (Percent Change) 1.937 %
Export Volumes of Goods Only (Percent Change) 1.36 %
Population 3.714 Million
General government revenue (National Currency)OMR 15.434 Billions.
General government revenue (% of GDP) 49.842 %
General government total expenditure (National Currency)OMR 14.496 Billions.
General government total expenditure (% of GDP) 46.812 %
Total Government Net Lending/ Borrowing (National Currency)OMR 0.938 Billions.
Total Government Net Lending/ Borrowing (% of GDP) 3.03 %
Fiscal Year Gross Domestic Product, Current PricesOMR 30.967 Billions.
Current Account Balance (US Dollars)US$ 7.978 Billion
Current Account Balance (% GDP) 9.906 %
Economic Indicators for Oman 2014

GDP (Constant Prices, National Currency) for Oman in year 2014 is OMR 26.072 Billion.

GDP Growth (Constant Prices, National Currency) for Oman in year 2014 is 3.4 %.

GDP (Current Prices, National Currency) for Oman in year 2014 is OMR 30.967 Billion.

GDP (Current Prices, US Dollars) for Oman in year 2014 is US$ 80.539 Billion.

GDP Deflator for Oman in year 2014 is 118.775 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Oman in year 2014 is OMR 7,020.73 .

GDP Per Capita (Current Prices, National Currency) for Oman in year 2014 is OMR 8,338.87 .

GDP Per Capita (Current Prices, US Dollars) for Oman in year 2014 is US$ 21,687.73 .

GDP (PPP), US Dollars for Oman in year 2014 is US$ 163.627 Billion.

GDP Per Capita (PPP), US Dollars for Oman in year 2014 is US$ 44,062.02 .

GDP Share of World Total (PPP) for Oman in year 2014 is 0.153 %.

Implied PPP Conversion Rate for Oman in year 2014 is 0.189 .

Investment (% of GDP) for Oman in year 2014 is 28.4 %.

Gross National Savings (% of GDP) for Oman in year 2014 is 38.306 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Oman in year 2014 is 156.103 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Oman in year 2014 is 2.793 %.

Inflation, End of Year (Indexed to Year 2000) for Oman in year 2014 is 150.836 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Oman in year 2014 is 2.793 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Oman in year 2014 is 6.756 %.

Import Volumes of Goods Only (Percent Change) for Oman in year 2014 is 6.644 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Oman in year 2014 is 1.937 %.

Export Volumes of Goods Only (Percent Change) for Oman in year 2014 is 1.36 %.

Population for Oman in year 2014 is 3.714 Million .

General government revenue (National Currency) for Oman in year 2014 is OMR 15.434 Billions.

General government revenue (% of GDP) for Oman in year 2014 is 49.842 %.

General government total expenditure (National Currency) for Oman in year 2014 is OMR 14.496 Billions.

General government total expenditure (% of GDP) for Oman in year 2014 is 46.812 %.

Total Government Net Lending/ Borrowing (National Currency) for Oman in year 2014 is OMR 0.938 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Oman in year 2014 is 3.03 %.

Fiscal Year Gross Domestic Product, Current Prices for Oman in year 2014 is OMR 30.967 Billions.

Current Account Balance (US Dollars) for Oman in year 2014 is US$ 7.978 Billion.

Current Account Balance (% GDP) for Oman in year 2014 is 9.906 %.

* Source: IMF
Aggregate Indicators for Oman
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Oman
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Oman
  Natural Resources, Agricultural Products, Land Use and Water Use for Oman
  Nationality, Ethnic Groups, Languages and Religions for Oman
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Oman
  Age Structure, Median Age, Gender and Urbanization for Oman
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Oman
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Oman
  HIV, AIDS and Other Major Infectious Disease Rates for Oman
  Literacy Rate, Educational Expenditure and School Life Expectancy for Oman
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Oman
  Industries and Industrial Growth Production Rate for Oman
  Labor Force by Occupation for Oman
  Poverty Line, Gini Index, Household Income and Consumption for Oman
  National Budget and Public Debt for Oman
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Oman
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Oman
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Oman
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Oman
  Foreign Exchange Reserves and Gold Reserves for Oman
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Oman
  Exchange Rate Statistics for Oman
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Oman
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Oman
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Oman
  Television and Radio Statistics (TV Stats, Radio Stats) for Oman
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Oman
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Oman
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Oman
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Oman
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Oman
* Source: CIA
Internet Indicators for Oman
Indicators
  Number of Internet Users for Oman
  Internet Penetration Rate for Oman
  Number of Facebook Accounts for Oman
  Facebook Penetration Rate for Oman
* Source: IWS
Economic Freedom Indicators for Oman
Indicators
  Economic Freedom World Rank for Oman
  Economic Freedom Regional Ranking for Oman
  Business Freedom for Oman
  Trade Freedom for Oman
  Fiscal Freedom for Oman
  Government Spending for Oman
  Monetary Freedom for Oman
  Investment Freedom for Oman
  Financial Freedom for Oman
  Property Rights for Oman
  Freedom from Corruption for Oman
  Labor Freedom for Oman
  Tariff Rate for Oman
  Income Tax Rate for Oman
  Corporate Tax Rate for Oman
  Tax Burden % of GDP for Oman
  Government Expenditure % of GDP for Oman
* Source: HFO
Corruption Perceptions Index Rank and Score for Oman
Indicator
  Corruption Perceptions Index Rank and Score for Oman
* Source: TIO
Oman Economic Indicators in other Years
  Oman Economic Indicators for Year 2019 (Forecast)
  Oman Economic Indicators for Year 2018 (Forecast)
  Oman Economic Indicators for Year 2017 (Forecast)
  Oman Economic Indicators for Year 2016 (Forecast)
  Oman Economic Indicators for Year 2015 (Forecast)
Oman Economic Indicators for Year 2014 (Current)
  Oman Economic Indicators for Year 2013
  Oman Economic Indicators for Year 2012
  Oman Economic Indicators for Year 2011
  Oman Economic Indicators for Year 2010
  Oman Economic Indicators for Year 2009
  Oman Economic Indicators for Year 2008
  Oman Economic Indicators for Year 2007
  Oman Economic Indicators for Year 2006
  Oman Economic Indicators for Year 2005
  Oman Economic Indicators for Year 2004
  Oman Economic Indicators for Year 2003
  Oman Economic Indicators for Year 2002
  Oman Economic Indicators for Year 2001
  Oman Economic Indicators for Year 2000
  Oman Economic Indicators for Year 1999
  Oman Economic Indicators for Year 1998
  Oman Economic Indicators for Year 1997
  Oman Economic Indicators for Year 1996
  Oman Economic Indicators for Year 1995
  Oman Economic Indicators for Year 1994
  Oman Economic Indicators for Year 1993
  Oman Economic Indicators for Year 1992
  Oman Economic Indicators for Year 1991
  Oman Economic Indicators for Year 1990
  Oman Economic Indicators for Year 1989
  Oman Economic Indicators for Year 1988
  Oman Economic Indicators for Year 1987
  Oman Economic Indicators for Year 1986
  Oman Economic Indicators for Year 1985
  Oman Economic Indicators for Year 1984
  Oman Economic Indicators for Year 1983
  Oman Economic Indicators for Year 1982
  Oman Economic Indicators for Year 1981
  Oman Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International