GDP in Oman

Oman GDP | Economic News & Forecasts

Oman - GDP

A low-oil-price environment and harsh austerity undertaken in order to rein in a rampant fiscal deficit have led the economy to log its worse economic performance since 2011 when it was plagued by heightened political unrest. While the November OPEC accord on cutting crude production is boosting oil prices, the country will not completely benefit as it will reduce its total production by around 4.5% in compliance with the deal. In an attempt to reduce the impact of last year’s hike in fuel prices, the government is considering reinstating a fuel subsidy for low income citizens. This move could derail the government’s plan to lower the budget deficit for this year to around 10% of GDP.

Oman - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)-1.1  7.1  3.9  2.9  -     

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Oman GDP Chart


Oman GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Center for Statistics and Information and FocusEconomics calculations.

Oman Facts

ValueChangeDate
Exchange Rate0.390.01 %Mar 27
Stock Market0.10.0 %Mar 27

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