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Oman Economy




Oman    Economy Top of Page
Economy - overview: Oman's economic performance improved significantly in 2000 due largely to the upturn in oil prices. The government is moving ahead with privatization of its utilities, the development of a body of commercial law to facilitate foreign investment, and increased budgetary outlays. Oman continues to liberalize its markets and joined the World Trade Organization (WTrO) in November 2000.
GDP: purchasing power parity - $19.6 billion (2000 est.)
GDP - real growth rate: 4.6% (2000 est.)
GDP - per capita: purchasing power parity - $7,700 (2000 est.)
GDP - composition by sector: agriculture:  3%

industry:  40%

services:  57% (1999 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): -0.8% (2000 est.)
Labor force: 850,000 (1997 est.)
Labor force - by occupation: agriculture NA%, industry NA%, services NA%
Unemployment rate: NA%
Budget: revenues:  $4.7 billion

expenditures:  $5.9 billion, including capital expenditures of $490 million (1999)
Industries: crude oil production and refining, natural gas production, construction, cement, copper
Industrial production growth rate: 4% (2000 est.)
Electricity - production: 8.63 billion kWh (1999)
Electricity - production by source: fossil fuel:  100%

hydro:  0%

nuclear:  0%

other:  0% (1999)
Electricity - consumption: 8.026 billion kWh (1999)
Electricity - exports: 0 kWh (1999)
Electricity - imports: 0 kWh (1999)
Agriculture - products: dates, limes, bananas, alfalfa, vegetables; camels, cattle; fish
Exports: $11.1 billion (f.o.b., 2000 est.)
Exports - commodities: petroleum, reexports, fish, metals, textiles
Exports - partners: Japan 27%, China 12%, Thailand 18%, UAE 12%, South Korea 12%, US (1999)
Imports: $4.5 billion (f.o.b., 2000 est.)
Imports - commodities: machinery and transport equipment, manufactured goods, food, livestock, lubricants
Imports - partners: UAE 26% (largely reexports), Japan 16%, UK 9%, Italy 7%, Germany 6%, US (1999)
Debt - external: $4.5 billion (2000 est.)
Economic aid - recipient: $76.4 million (1995)
Currency: Omani rial (OMR)
Currency code: OMR
Exchange rates: Omani rials per US dollar - 0.3845 (fixed rate since 1986)
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook








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