Agriculture > products
dates, limes, bananas, alfalfa, vegetables; camels, cattle; fish |
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Current account balance
|
$4,866,000,000.00 |
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[37th of 181]
|
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Definition: Economy > Current account balance |
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Source: CIA World Factbook, 28 July 2005 |
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Debt > External
|
$5,297,000,000.00 |
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[91st of 136]
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Definition: Economy > Debt > External |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Economic freedom
|
2.2 |
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[58th of 156]
|
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Definition: Economy > Economic freedom |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Economy > Overview
Oman is a middle-income economy that is heavily dependent on dwindling oil resources, but sustained high oil prices in recent years have helped build Oman's budget and trade surpluses and foreign reserves. Oman joined the World Trade Organization in November 2000 and continues to liberalize its markets. It ratified a free trade agreement with the US in September 2006, and, through the Gulf Cooperation Council, seeks similar agreements with the EU, China and Japan. As a result of its dwindling oil resources, Oman is actively pursuing a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9 percent by 2020. Muscat is attempting to "Omanize" the labor force by replacing foreign expatriate workers with local workers. Oman actively seeks private foreign investors, especially in the industrial, information technology, tourism, and higher education fields. Industrial development plans focus on gas resources, metal manufacturing, petrochemicals, and international transshipment ports. |
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Definition: Economy > Economy > Overview |
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Source: The Heritage Foundation |
Exchange rates
Omani rials per US dollar - 0.3845 (2004), 0.3845 (2003), 0.3845 (2002), 0.3845 (2001), 0.3845 (2000) |
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Definition: Economy > Exchange rates |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Exports
|
$23,100,000,000.00 |
|
[64th of 189]
|
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Definition: Economy > Exports |
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Source: CIA World Factbook, 28 July 2005 |
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Exports to US
|
$151,000,000.00 |
|
[77th of 224]
|
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Definition: Economy > Exports to US |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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GDP
|
$24,283,990,000.00 |
|
[72nd of 203]
|
|
Definition: Economy > GDP |
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Source: US Census Bureau |
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GDP (purchasing power parity)
|
$60,890,000,000.00 |
|
[83rd of 187]
|
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Definition: Economy > GDP (purchasing power parity) |
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Source: World Development Indicators database and CIA World Factbook |
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GDP > PPP
|
$35,851,000,000.00 |
|
[78th of 163]
|
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Definition: Economy > GDP > PPP |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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GDP > Real growth rate
|
5.6% |
|
[90th of 198]
|
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Definition: Economy > GDP > Real growth rate |
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Source: World Bank. 2005. World Development Indicators 2005. |
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GDP growth > annual %
|
3.13 annual %
|
|
[136th of 187]
|
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Definition: Economy > GDP growth > annual % |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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GDP per capita, PPP > current international $
|
15,145.59 PPP $
|
|
[38th of 169]
|
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Definition: Economy > GDP per capita, PPP > current international $ |
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Source: World Development Indicators database |
|
Gross National Income
|
$14,895,600,000.00 |
|
[67th of 172]
|
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Definition: Economy > Gross National Income |
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Source: World Development Indicators database |
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Human Development Index
|
0.781 |
|
[71st of 178]
|
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Definition: Economy > Human Development Index |
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Income category
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Upper middle income |
|
|
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Definition: Economy > Income category |
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Source: Human Development Report 2006, United Nations Development Programme |
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Inflation rate (consumer prices)
|
5.9% |
|
[83rd of 192]
|
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Definition: Economy > Inflation rate (consumer prices) |
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Source: |
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Public debt
|
3.7 % of GDP |
|
[119th of 121]
|
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Definition: Economy > Public debt |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Tourist arrivals
|
375,000 |
|
[76th of 152]
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Definition: Economy > Tourist arrivals |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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