The Gross Domestic Product (GDP) in Oman expanded 2.20 percent in 2018 from the previous year.

GDP Annual Growth Rate in Oman averaged 4.96 percent from 2000 until 2018, reaching an all time high of 13.10 percent in 2008 and a record low of -0.90 percent in 2017. This page provides the latest reported value for - Oman GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Oman GDP Annual Growth Rate - values, historical data and charts - was last updated on July of 2020.

GDP Annual Growth Rate in Oman is expected to reach -3.50 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Oman GDP Annual Growth Rate is projected to trend around 3.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.

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Oman GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.20 -0.90 13.10 -0.90 2000 - 2018 percent Yearly
2000=100

Oman GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 2.20 -0.90 13.10 -0.90 percent [+]
GDP 79.50 79.29 81.08 0.04 USD Billion [+]
GDP Constant Prices 29333.50 28481.60 29333.50 2185.00 OMR Million [+]
Gross Fixed Capital Formation 7418.40 7847.70 8517.30 1681.10 OMR Million [+]
GDP per capita 15663.90 15875.60 19454.20 713.70 USD [+]
GDP per capita PPP 36830.90 37328.60 45743.20 35042.10 USD [+]
Gross National Product 28452.30 26098.30 29525.80 2098.00 OMR Million [+]
GDP From Agriculture 670.20 627.00 670.20 168.20 OMR Million [+]
GDP From Construction 1986.10 2114.90 2285.10 159.00 OMR Million [+]
GDP From Manufacturing 3011.00 2778.70 3279.50 252.00 OMR Million [+]
GDP From Mining 171.00 147.40 171.00 19.10 OMR Million [+]
GDP From Public Administration 3575.80 3528.70 3708.10 646.40 OMR Million [+]
GDP From Services 14437.50 14038.70 14437.50 2825.80 OMR Million [+]
GDP From Transport 1649.20 1623.70 1649.20 325.10 OMR Million [+]
GDP From Utilities 567.00 540.90 567.00 67.70 OMR Million [+]


Oman GDP Annual Growth Rate
Oman's economy relies heavily on oil production. The petroleum sector accounts for around 87 percent of budget revenues, 51 percent of GDP and 60 percent of total exports. However, as oil reserved have been shrinking in recent years the government has embarked on a process of economic diversification focused on development of tourism and gas based industries.