GDP in Oman

Oman GDP | Economic News & Forecasts

Oman - GDP

Oman’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

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 Rate0.390.0 %Feb 16
Stock Market0.20.0 %Feb 16

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