Economy - overview: Oman's economic performance improved significantly in 2000 due largely to the upturn in oil prices. The government is moving ahead with privatization of its utilities, the development of a body of commercial law to facilitate foreign investment, and increased budgetary outlays. Oman continues to liberalize its markets and joined the World Trade Organization (WTrO) in November 2000.

GDP: purchasing power parity - $19.6 billion (2000 est.)

GDP - real growth rate: 4.6% (2000 est.)

GDP - per capita: purchasing power parity - $7,700 (2000 est.)

GDP - composition by sector:
agriculture: 3%
industry: 40%
services: 57% (1999 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): -0.8% (2000 est.)

Labor force: 850,000 (1997 est.)

Labor force - by occupation: agriculture NA%, industry NA%, services NA%

Unemployment rate: NA%

Budget:
revenues: $4.7 billion
expenditures: $5.9 billion, including capital expenditures of $490 million (1999)

Industries: crude oil production and refining, natural gas production, construction, cement, copper

Industrial production growth rate: 4% (2000 est.)

Electricity - production: 8.63 billion kWh (1999)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)

Electricity - consumption: 8.026 billion kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

Agriculture - products: dates, limes, bananas, alfalfa, vegetables; camels, cattle; fish

Exports: $11.1 billion (f.o.b., 2000 est.)

Exports - commodities: petroleum, reexports, fish, metals, textiles

Exports - partners: Japan 27%, China 12%, Thailand 18%, UAE 12%, South Korea 12%, US (1999)

Imports: $4.5 billion (f.o.b., 2000 est.)

Imports - commodities: machinery and transport equipment, manufactured goods, food, livestock, lubricants

Imports - partners: UAE 26% (largely reexports), Japan 16%, UK 9%, Italy 7%, Germany 6%, US (1999)

Debt - external: $4.5 billion (2000 est.)

Economic aid - recipient: $76.4 million (1995)

Currency: Omani rial (OMR)

Currency code: OMR

Exchange rates: Omani rials per US dollar - 0.3845 (fixed rate since 1986)

Fiscal year: calendar year

NOTE: The information regarding Oman on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Oman Economy 2001 information contained here. All suggestions for corrections of any errors about Oman Economy 2001 should be addressed to the CIA.