Industry in Oman

Oman Industry | Economic News & Forecasts

Oman - Industry

The economy has performed very well recently. Due to higher government revenues, the fiscal deficit was nearly halved in January–June compared to the same period a year earlier. Moreover, in the same period, the merchandise trade surplus widened as higher prices led to a surge in oil and gas exports. This improvement comes after the economy contracted last year following Oman’s compliance with the OPEC agreement to cut oil production. Meanwhile, Petroleum Development Oman, the largest oil producer in the country, said on 4 September that it would raise output capacity by approximately 13% by 2022, which would involve around USD 20 billion of investment.

Oman - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)3.1  0.2  5.4  3.2  -     

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Oman Industry Chart

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

Oman Facts

Exchange Rate0.380.06 %Oct 18
Stock Market0.10.0 %Oct 18

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