Current Account in Oman

Oman Current Account | Economic News & Forecasts

Oman - Current Account

Economic activity likely slowed last year, as suggested by a year-on-year dip in oil production in January–November. Moreover, the non-oil economy remained subdued: Bank lending to the private sector remained downbeat through November, potentially dampening both private consumption and fixed investment. In addition, government spending dropped slightly in January–November, while a sharper fall in revenues resulted in a small widening of the fiscal deficit. On the external side, although the merchandise trade surplus widened in January–September, this was due to imports dropping faster than exports. More positively, however, inflation was muted in January–November, boding well for private consumption. In politics, Sultan Qaboos bin Said died on 10 January and was succeeded by Haitham bin Tariq Al Said.

Oman - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)6.6  5.2  -15.9  -18.7  -15.2  

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Oman Current Account Chart

Oman Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Oman.

Oman Facts

Exchange Rate0.390.06 %Dec 31

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