Industry in Oman
Oman - IndustryIn 2018, the economic picture looks brighter than in 2017, when growth was negatively affected by reduced oil production. In the first three months of this year, the fiscal deficit was cut by half compared to the same period in 2017, thanks to increased oil revenue and reduced total expenditure. Higher oil revenue was due to higher prices, given that in January–April, oil production was stable vis-à-vis last year. Although this is welcome news given the poor state of the public finances, the government remains highly reliant on oil revenue to finance spending. This was not helped in December of last year, when the imposition of a VAT of 5% was postponed until 2019. Meanwhile, in the period up to April of this year, total credit and financing in the private sector increased at a healthy pace, suggesting solid economic activity in the period.
Oman - Industry Data
|Industrial Production (annual variation in %)||3.1||0.2||5.4||3.2||-|
5 years of economic forecasts for more than 30 economic indicators.
Oman Industry Chart
Source: Central Bank of Oman.
|Exchange Rate||0.38||0.06 %||Aug 15|
|Stock Market||0.1||0.0 %||Aug 15|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.