Oman
Oman: steady but modest growth, 1980–2025
A smaller Gulf oil producer than its neighbors, Oman has pursued gradual economic diversification into tourism, logistics, and mining under its Vision 2040 plan while remaining more fiscally exposed to oil prices than the UAE or Qatar. Between 1980 and 2025, Oman's GDP per capita grew from $5,974 to $19,947 (current US$), a compound annual growth rate of 2.7% — steady but modest growth. Annual GDP growth averaged 4.7% with a year-to-year standard deviation of 4.9 points, reflecting considerable volatility and periodic crises. Structurally, agriculture's share of the economy moved from 2.5% to 2.8% of GDP (a notable increase), while services rose from 29.4% to 47.2% of GDP, underscoring a shift toward a services-driven economy. On human development, life expectancy rose from 59.6 to 80.2 years, while tertiary school enrollment moved from 0.0% to 42.2%, while the urban population share grew from 55.3% to 79.5%.
What this growth cost: Growth was not without cost: per-capita CO2 emissions rose from 12.89 to 18.65 tonnes CO2e per person.
What it trades
Top exported and imported products, approximate share of total trade value.
Top exports
Top imports
Events shaping this economy
Central bank perspective
Why the charts below look the way they do, drawing on the country’s own central bank and monetary authority.