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| 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.
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| GDP: |
purchasing power parity - $19.6 billion (2000 est.)
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| GDP - real growth rate: |
4.6% (2000 est.)
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| GDP - per capita: |
purchasing power parity - $7,700 (2000 est.)
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| GDP - composition by sector: |
agriculture:
3%
industry:
40%
services:
57% (1999 est.)
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| Population below poverty line: |
NA%
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| Household income or consumption by percentage share: |
lowest 10%:
NA%
highest 10%:
NA%
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| Inflation rate (consumer prices): |
-0.8% (2000 est.)
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| Labor force: |
850,000 (1997 est.)
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| Labor force - by occupation: |
agriculture NA%, industry NA%, services NA%
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| Budget: |
revenues:
$4.7 billion
expenditures:
$5.9 billion, including capital expenditures of $490 million (1999)
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| Industries: |
crude oil production and refining, natural gas production, construction, cement, copper
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| Industrial production growth rate: |
4% (2000 est.)
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| Electricity - production: |
8.63 billion kWh (1999)
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| Electricity - production by source: |
fossil fuel:
100%
hydro:
0%
nuclear:
0%
other:
0% (1999)
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| Electricity - consumption: |
8.026 billion kWh (1999)
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| Electricity - exports: |
0 kWh (1999)
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| Electricity - imports: |
0 kWh (1999)
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| Agriculture - products: |
dates, limes, bananas, alfalfa, vegetables; camels, cattle; fish
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| Exports: |
$11.1 billion (f.o.b., 2000 est.)
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| Exports - commodities: |
petroleum, reexports, fish, metals, textiles
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| Exports - partners: |
Japan 27%, China 12%, Thailand 18%, UAE 12%, South Korea 12%, US (1999)
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| Imports: |
$4.5 billion (f.o.b., 2000 est.)
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| Imports - commodities: |
machinery and transport equipment, manufactured goods, food, livestock, lubricants
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| Imports - partners: |
UAE 26% (largely reexports), Japan 16%, UK 9%, Italy 7%, Germany 6%, US (1999)
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| Debt - external: |
$4.5 billion (2000 est.)
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| Economic aid - recipient: |
$76.4 million (1995)
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| Currency: |
Omani rial (OMR)
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| Exchange rates: |
Omani rials per US dollar - 0.3845 (fixed rate since 1986)
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| Fiscal year: |
calendar year
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