Short facts about the economy in Oman

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

Source: World Factbook