Industry in Oman

Oman Industry | Economic News & Forecasts

Oman - Industry

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 - Industry Data

2013   2014   2015   2016   2017  
Industrial Production (annual variation in %)3.1  0.2  5.1  4.6  -2.5  

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Oman Industry Chart


Oman Industry
Note: Annual variation of industrial production in %.
Source: Central Bank of Oman.

Oman Facts

Value Change Date
Exchange Rate0.390.06 %Dec 31

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