Economy Oman economy The latest economic and demographic indicators for Oman, including GDP, inflation, oil prices, trade, population, unemployment and more November 20, 2024, 7:11 PM Shutterstock More economic data on the GCC states Bahrain Qatar Kuwait Saudi Arabia Oman UAE For other countries in the region, go to our Mena economic data page Oman economic indicators at a glance Oman nominal GDP Oman GDP per capita Oman's economy has fluctuated, with GDP per capita and nominal GDP dipping in 2020 and 2023. Only small changes are forecast for this year and 2025. Oman GDP growth Oman's non-oil and oil GDP growth stood at about 10 percent in 2022, but both indicators were below 2 percent the following year. Oman oil breakeven prices Oman's oil breakeven price has fallen since 2021. It is predicted to increase slightly in 2025. Oman inflation Oman's consumer price index has steadied since inflation reached 2.5 percent in 2022. Smaller increases are forecast up to 2027. Oman lending, debt & account balance Government gross debt as a percentage of Oman's GDP is generally decreasing and Oman's current account balance has been in positive territory since 2022. Oman trade Oman’s top 10 trade partners Oman's trade has been volatile, but is now expected to keep growing until 2027. Oman's top exports include mineral fuels and plastics, while its top imports include machinery, nuclear reactors and vehicles. Oman foreign direct investment Inward foreign direct investment into Oman has been volatile, topping $8 billion in 2021 before falling again. Oman's outward FDI has also fluctuated but remains low. Oman sovereign ratings Oman's credit rating was upped to investment grade by S&P Global in September 2024. Its ratings from Fitch and Moody's are just below investment grade. Oman governance Oman's Corruption Perceptions Index score rose by 12 points in 2024. Its 2023 score of 43 – matching the global average – was a 10-year low. The 2024 result is its best in a decade. Oman population Oman life expectancy Oman's population rate has fluctuated but is slowly increasing again. Life expectancy in Oman plummeted in 2019, reaching its lowest point in 2021 before rising again. Oman unemployment rate Oman's unemployment rate has also been volatile, but it has been falling since 2020 and is now at its lowest in 10 years. Expats in Oman Oman expats’ country of origin Oman's expat population has increased from one quarter of the total population three decades ago to almost half in the UN's latest research. More than two thirds of Oman's expats are from India or Bangladesh. More economic indicators The UAE Saudi Arabia All GCC countries The charts and tables on this page are for general information purposes only. AGBI aims to keep the information up-to-date and correct, but makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information. Any reliance you place on such information is therefore strictly at your own risk. All IMF, World Bank and United Nations data on this page is publicly available. The latest IMF World Economic Outlook was published on October 22 2024 Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
