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 Oman economic indicators at a glance Oman nominal GDP Oman GDP per capita Oman GDP growth Oman oil breakeven prices 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'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's oil breakeven price has fallen since 2021. It is predicted to increase slightly in 2025. Oman inflation Oman lending, debt & account balance Oman's consumer price index has steadied since inflation reached 2.5 percent in 2022. Smaller increases are forecast up to 2027. 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 Oman sovereign ratings Oman governance 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'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's Corruption Perceptions Index score is now at its lowest in 10 years – scoring below most of its GCC neighbours but the same as the global average. Oman population Oman life expectancy Oman unemployment rate 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'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 half of Oman's expats come from India. 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
Finance Jordan to get $131m under IMF’s finance programme Jordan will receive $131 million from the International Monetary Fund (IMF) under its $1.2 billion extended fund facility programme (EEF). The four-year programme, approved in January 2024, remains on track, the IMF said in a statement following the completion of a second review. Jordan’s economy continues to grow amid low inflation, the fund said, adding […] 4 hours ago
Leisure & Hospitality Hilton set to triple Egypt presence with new brands Hilton is set to triple its presence in Egypt, increasing the number of hotels to 25 and expanding its footprint to more than 40 properties over the coming years. The expansion includes the opening of its lifestyle brand, Tapestry Collection, on the African continent, as well as Egypt’s first Curio Collection and a resort under […] 3 hours ago
Trade UAE finalises trade deal with five-nation EAEU bloc The UAE has finalised an economic agreement with the Eurasian Economic Union (EAEU) that will reduce or remove tariffs and eliminate technical barriers to trade with five countries. The economic partnership agreement with the EAEU, made up of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, will align customs procedures and harmonise digital trade and ecommerce, UAE […] 12 hours ago
Oil & Gas Conflict hampering Mediterranean operations, says Chevron CEO US energy major Chevron has struggled to keep natural gas production online in the Eastern Mediterranean during the conflict in the Middle East, according to its chairman and chief executive Mike Wirth. Chevron is the largest producer of natural gas for Israel, in particular through two “large” offshore platforms, Tamar and Leviathan, that also supply […] 13 hours ago
