Current Account in Oman

Oman Current Account | Economic News & Forecasts

Oman - Current Account

Economic conditions likely continued to improve in sequential terms in Q3, as the easing of both domestic and travel restrictions due to declining new Covid-19 cases should have supported activity. Furthermore, structural reforms aimed at increasing labor market flexibility and female participation should have lifted productivity. Meanwhile, the energy sector likely continued to expand robustly as crude oil output grew at a rapid pace in July–September, while natural gas production remained upbeat in the period. Moreover, higher oil prices and the introduction of the VAT earlier this year should have boosted public coffers. In other news, Moody’s recently changed Oman’s sovereign credit rating outlook from negative to stable, following S&P Global Ratings’ decision to upgrade its outlook from stable to positive in early October, with both developments boding well for investment activity ahead.

Oman - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-16.0  -19.1  -15.6  -5.5  -     

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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

Value Change Date
Exchange Rate0.390.06 %Dec 31

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