Oman Industry Sectors
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Oman’s economy is 60.7% services, 37.2% industry and 2.1% agriculture. It is one of the least farmable countries in the world, with only 0.12% of the land used for arable farming.
Oman industry sectors include crude oil production and refining, natural and liquefied natural gas (LNG) production; construction, cement, copper, steel, chemicals and optic fiber. Oman’s industrial production growth rate was estimated at 3.4 percent in 2008 and stayed the same in 2009.
Oman’s economy is 60.7% services, 37.2% industry and 2.1% agriculture. It is one of the least farmable countries in the world, with only 0.12% of the land used for arable farming.
Oman industry sectors include crude oil production and refining, natural and liquefied natural gas (LNG) production; construction, cement, copper, steel, chemicals and optic fiber. Oman’s industrial production growth rate was estimated at 3.4 percent in 2008 and stayed the same in 2009.
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Oman Industry Sectors: Oil and Gas
Oman’s depleting oil wealth means the role of the manufacturing units and industries assumes greater importance in sustaining the country’s economy. Aware of the vulnerability of its dependency on a non-renewable natural resource, the Omani government has increased funding for sectors based on renewable natural resources that can provide sustainable economic growth.
Oman Industry Sectors: Export Industries
Areas of focus are agriculture and fishing sectors, encouraging tourism, and constructing light industrial parks with the objective of exporting consumer goods to its Gulf Cooperation Council (GCC) partners. In the 70s and 80s the industrial sector was aimed at import-substitution industrialization to encourage export industries within the gulf and allow Oman to operate in a competitive market, attract foreign investment and boost the private sector industry.
Oman Industry Statistics and Indicators at a Glance
GDP – composition by sector: agriculture: 2.1% industry: 37.2% services: 60.7% (2010 estimate)
Industries: crude oil production and refining, natural and liquefied natural gas (LNG) production; construction, cement, copper, steel, chemicals, optic fiber
Industrial production growth rate: 3.4%
