Countries
Oman
Key Economic Indicators
$220.45 billion
$41,740
1.63%
0.59%
3.25%
$106.943 billion (2024 est.)
<strong>note:</strong> excludes indebtedness of state-owned enterprises
$3.07 billion
Economic Overview
high-income, oil-based economy; large welfare system; growing government debt; citizenship-based labor force growth policy; US free trade agreement; diversifying portfolio; high female labor force participation
All Economic Data
Agricultural products
vegetables, dates, milk, tomatoes, sorghum, chillies/peppers, goat milk, cucumbers/gherkins, cantaloupes/melons, cabbages (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
0.1% of household expenditures (2023 est.)
On food:
18.7% of household expenditures (2023 est.)
Budget
Expenditures:
$35.984 billion (2018 est.)
Revenues:
$29.334 billion (2018 est.)
Currency
code:
OMR
name:
Omani rial (OMR) [ر.ع.]
Current account balance
$3.07 billion
Current account balance 2021:
-$4.836 billion (2021 est.)
Current account balance 2022:
$4.362 billion (2022 est.)
Current account balance 2023:
$2.638 billion (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
Omani rials (OMR) per US dollar -
Exchange rates 2020:
0.384 (2020 est.)
Exchange rates 2021:
0.384 (2021 est.)
Exchange rates 2022:
0.384 (2022 est.)
Exchange rates 2023:
0.384 (2023 est.)
Exchange rates 2024:
0.384 (2024 est.)
Exports
$70.79 billion
Exports 2021:
$46.572 billion (2021 est.)
Exports 2022:
$69.483 billion (2022 est.)
Exports 2023:
$64.749 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
crude petroleum, refined petroleum, natural gas, semi-finished iron, fertilizers (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
China 43%, India 6%, Saudi Arabia 5%, UAE 5%, South Africa 4% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$12.47 billion
GDP - composition, by end use
Exports of goods and services:
61.1% (2023 est.)
Government consumption:
19.1% (2023 est.)
Household consumption:
37.8% (2023 est.)
Imports of goods and services:
-44.8% (2023 est.)
Investment in fixed capital:
24.3% (2023 est.)
Investment in inventories:
2.4% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
2.6% (2024 est.)
Industry:
54.2% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
46.5% (2024 est.)
GDP (official exchange rate)
$106.943 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$20,285
GNI (gross national income)
$100.97 billion
GNI per capita
$19,520
Gross domestic investment
25 % of GDP
Imports
$52.26 billion
Imports 2021:
$37.216 billion (2021 est.)
Imports 2022:
$46.682 billion (2022 est.)
Imports 2023:
$47.412 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, cars, crude petroleum, iron ore, iron pipes (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
UAE 25%, Saudi Arabia 12%, India 8%, China 7%, Qatar 5% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
0.2% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
crude oil production and refining, natural and liquefied natural gas production; construction, cement, copper, steel, chemicals, optic fiber
Inflation rate (consumer prices)
0.59%
Inflation rate (consumer prices) 2021:
1.7% (2021 est.)
Inflation rate (consumer prices) 2022:
2.5% (2022 est.)
Inflation rate (consumer prices) 2023:
1% (2023 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
2.696 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
2.84 million persons
Labor force - by occupation
agriculture:
5.95%
industry:
39.44%
services:
54.62%
Public debt
Note:
<strong>note:</strong> excludes indebtedness of state-owned enterprises
Public debt 2017:
46.9% of GDP (2017 est.)
Real GDP (purchasing power parity)
$220.45 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$188.169 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$190.403 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$193.591 billion (2024 est.)
Real GDP growth rate
1.63%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
8% (2022 est.)
Real GDP growth rate 2023:
1.2% (2023 est.)
Real GDP growth rate 2024:
1.7% (2024 est.)
Real GDP per capita
$41,740
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$39,800 (2022 est.)
Real GDP per capita 2023:
$37,700 (2023 est.)
Real GDP per capita 2024:
$36,700 (2024 est.)
Remittances
$39.01 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
0% of GDP (2021 est.)
Remittances 2022:
0% of GDP (2022 est.)
Remittances 2023:
0% of GDP (2023 est.)
Reserves of foreign exchange and gold
$18.29 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$17.606 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$17.455 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$18.287 billion (2024 est.)
Unemployment rate
3.25%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
3.3% (2022 est.)
Unemployment rate 2023:
3.2% (2023 est.)
Unemployment rate 2024:
3.2% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
30.9% (2024 est.)
Male:
11% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
13.9% (2024 est.)
World Bank Indicators
Currency
Mauritian rupee (MUR) (2025)
Gini Index
36.80 (2017)
Languages
English, French, Mauritian Creole (2025)
Economic Rankings
GDP Growth Rate
#35
GDP per Capita
#53
Exports
#55
Reserves
#64
Imports
#65
GDP (Nominal)
#69
GDP (PPP)
#76
Unemployment Rate
#142
Inflation Rate
#191
Quick Facts
Industries
crude oil production and refining, natural and liquefied natural gas production; construction, cement, copper, steel, chemicals, optic fiber
Agricultural products
vegetables, dates, milk, tomatoes, sorghum, chillies/peppers, goat milk, cucumbers/gherkins, cantaloupes/melons, cabbages (2023)
Labor force
2.696 million (2024 est.)
Exports - partners
China 43%, India 6%, Saudi Arabia 5%, UAE 5%, South Africa 4% (2023)
Imports - partners
UAE 25%, Saudi Arabia 12%, India 8%, China 7%, Qatar 5% (2023)
Exchange rates
Omani rials (OMR) per US dollar -
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