GDP in Oman
Oman - GDPOman’s economy is likely to have suffered a considerable slowdown in 2016, as record-low oil prices bit into export revenues and government finances, causing the budget deficit to balloon. The OPEC agreement designed to counteract the price fall saw Oman trim oil production by 45,000 barrels a day from 1 January, while the budget plan announced in early January aims to get the country’s fiscal house in order through a mixture of tax rises and subsidy cuts. Another key thrust of the government’s economic plan is diversification. The Tanfeeth program was announced to that end late last year and aims to raise the profile of sectors such as logistics, tourism and manufacturing and wean the country off its dependence on oil.
Oman - GDP Data
|Economic Growth (GDP, annual variation in %)||-1.1||7.1||3.9||2.9||-|
5 years of economic forecasts for more than 30 economic indicators.
Note: Annual variation of gross domestic product (GDP) in %.
Oman GDP Chart
Source: National Center for Statistics and Information and FocusEconomics calculations.
|Exchange Rate||0.39||0.0 %||Feb 16|
|Stock Market||0.2||0.0 %||Feb 16|
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