Oman

Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves, Muscat has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector’s contribution to GDP to 9% by 2020. Tourism and gas-based industries are key components of the government’s diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify, and the increase in global oil prices thoughout 2010 provides the government greater financial resources to invest in non-oil sectors.

$76.53 billion (2010 est.)

$73.87 billion (2009 est.)

$72.42 billion (2008 est.)

$53.78 billion (2010 est.)

3.6% (2010 est.)

2% (2009 est.)

12.8% (2008 est.)

$25,800 (2010 est.)

$25,400 (2009 est.)

$25,400 (2008 est.)

968,800

15% (2004 est.)

NA%

26.3% of GDP (2010 est.)

4.4% of GDP (2010 est.)

5.5% of GDP (2009 est.)

4% (2010 est.)

3.5% (2009 est.)

0.05% (31 December 2009)

0.91% (31 December 2008)

7.44% (31 December 2009 est.)

7.1% (31 December 2008 est.)

$7.257 billion (31 December 2010 est)

$6.15 billion (31 December 2009 est)

$22.35 billion (31 December 2010 est.)

$20.52 billion (31 December 2009 est.)

$22.05 billion (31 December 2010 est.)

$19.34 billion (31 December 2009 est.)

$17.3 billion (31 December 2009)

$14.91 billion (31 December 2008)

$23.06 billion (31 December 2007)

dates, limes, bananas, alfalfa, vegetables; camels, cattle; fish

crude oil production and refining, natural and liquefied natural gas (LNG) production; construction, cement, copper, steel, chemicals, optic fiber

4.5% (2010 est.)

13.58 billion kWh (2007 est.)

11.36 billion kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

816,000 bbl/day (2009 est.)

84,000 bbl/day (2009 est.)

593,700 bbl/day (2008 est.)

17,290 bbl/day (2007 est.)

5.5 billion bbl (1 January 2010 est.)

24 billion cu m (2008 est.)

13.46 billion cu m (2008 est.)

10.89 billion cu m (2008 est.)

350 million cu m (2008 est.)

849.5 billion cu m (1 January 2010 est.)

$2.724 billion (2010 est.)

-$2.143 billion (2009 est.)

$36.12 billion (2010 est.)

$27.65 billion (2009 est.)

petroleum, reexports, fish, metals, textiles

China 26.98%, South Korea 17.19%, Japan 12.12%, UAE 11.23%, Thailand 7.64% (2009)

$19.3 billion (2010 est.)

$16.13 billion (2009 est.)

machinery and transport equipment, manufactured goods, food, livestock, lubricants

UAE 22.9%, Japan 13.99%, US 6.46%, China 5.64%, India 5.27%, France 5.19%, South Korea 4.65% (2009)

$14 billion (31 December 2010 est.)

$12.2 billion (31 December 2009 est.)

$8.829 billion (31 December 2010 est.)

$7.061 billion (31 December 2009 est.)

$NA

$NA

Omani rials (OMR) per US dollar - 0.3845 (2010), 0.3845 (2009), 0.3845 (2008), 0.3845 (2007), 0.3845 (2006)