Current Account in Oman

Oman Current Account | Economic News & Forecasts

Oman - Current Account

The economy appears to be in good shape. Oil prices in the first half of 2019 averaged above the USD 58 per barrel level that the government projected in its annual budget, in a positive development for the public purse. Moreover, oil production, a key contributor to total economic output, increased slightly in January–May in annual terms, while the non-hydrocarbon economy is also seemingly strengthening. Tourist arrivals increased by over 10% in January?April compared to the same period a year earlier and new tax exemptions for investors in the tourism sector came into effect in June. Meanwhile, the government introduced a new 100% tax on tobacco, alcohol and pork on 15 June, in an effort to reduce its reliance on oil revenue.

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 %Jul 11
Stock Market0.10.0 %Jul 11

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