Current Account in Oman

Oman Current Account | Economic News & Forecasts

Oman - Current Account

The economy likely rebounded in 2018 after a contraction in 2017, primarily on the back of increased hydrocarbon output and prices. Preliminary estimates show the fiscal deficit fell in absolute terms to a four-year low on the back of higher government revenue, despite greater expenditure. Moreover, international reserves climbed, while exports rose by over a third in January–September. Turning to 2019, Moody’s said in February that the fiscal deficit is unlikely to improve much more due to lacking policy action from the government. Meanwhile, a large sebacic acid factory began production in the city of Duqm in the same month, highlighting government economic diversification efforts.

Oman - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)6.6  5.2  -15.9  -18.4  -     

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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

ValueChangeDate
Exchange Rate0.390.06 %Mar 11
Stock Market0.10.0 %Mar 08

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