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2021
Economic Complexity
Trade -0.2Rank 73 of 131
2021
Economic Complexity
Technology -1.38Rank 89 of 96
2021
Economic Complexity
Research -0.78Rank 110 of 140
2021
Product
Exports | Imports $56.9B | $34B53 of 226 |  67 of 226
2021
Per Capita Product
Exports | Imports $12.6k | $7.51k36 of 220 |  73 of 220

About

Overview In 2021, Oman was the number 67 economy in the world in terms of GDP (current US$), the number 53 in total exports, the number 67 in total imports, the number 60 economy in terms of GDP per capita (current US$) and the number 73 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Oman are Crude Petroleum ($24.2B), Petroleum Gas ($6.78B), Refined Petroleum ($3.93B), Nitrogenous Fertilizers ($2.19B), and Semi-Finished Iron ($2.14B), exporting mostly to China ($23.9B), India ($5.18B), United Arab Emirates ($3.9B), South Korea ($2.66B), and Saudi Arabia ($2.34B).

Imports The top imports of Oman are Refined Petroleum ($2.8B), Cars ($2.21B), Iron Ore ($1.72B), Broadcasting Equipment ($710M), and Gold ($624M), importing mostly from United Arab Emirates ($11.2B), China ($3.13B), India ($2.31B), Saudi Arabia ($1.6B), and Qatar ($1.6B).

Location Oman borders Saudi Arabia, United Arab Emirates, and Yemen by land and Iran and Pakistan by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Oman.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2021)Crude Petroleum$24.2B
Top Destination (2021)China$23.9B

In 2021, Oman exported a total of $56.9B, making it the number 53 exporter in the world. During the last five reported years the exports of Oman have changed by $28.2B from $28.7B in 2016 to $56.9B in 2021.

The most recent exports are led by Crude Petroleum ($24.2B), Petroleum Gas ($6.78B), Refined Petroleum ($3.93B), Nitrogenous Fertilizers ($2.19B), and Semi-Finished Iron ($2.14B). The most common destination for the exports of Oman are China ($23.9B), India ($5.18B), United Arab Emirates ($3.9B), South Korea ($2.66B), and Saudi Arabia ($2.34B).

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Exports (2021)
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Destinations (2021)
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Market Growth

Flow
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Fastest Growing Export Markets (2020 - 2021)
China$10.1B (+ 73%)
India$2.37B (+ 84.5%)
South Africa$1.07B (+ 173%)
Fastest Growing Import Markets (2020 - 2021)
United Arab Emirates$851M (+ 8.21%)
Brazil$801M (+ 107%)
China$349M (+ 12.6%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Oman Exports Services (2020)$2.22B
Oman Imports Services (2020)$8.33B

In 2020, Oman exported $2.22B worth of services. The top services exported by Oman in 2020 were Transportation ($1.1B), Travel ($441M), Other business services ($423M), Computer and information services ($222M), and Insurance services ($40M).

The top services imported by Oman in 2020 were Other business services ($3.23B), Transportation ($2.75B), Insurance services ($1.06B), Travel ($1.04B), and Computer and information services ($256M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)-0.2Rank 73 of 131
Economic Complexity (Technology)-1.38Rank 89 of 96
Economic Complexity (Research)-0.78Rank 110 of 140

Most Specialized Products by RCA Index

Oman has a high level of specialization in Gypsum (38.2), Iron Reductions (34.4), Nitrogenous Fertilizers (22.1), Gravel and Crushed Stone (19.4), and Semi-Finished Iron (18.8). Specialization is measured using RCA, an index that takes the ratio between Oman observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Oman according to the product complexity index (PCI) are Stationery; fittings for loose-leaf binders or files, letter clips, letter corners, paper... (0.91), Polyacetals, other polyethers and epoxide resins, in primary forms; polycarbonates, alkyd resins,... (0.76), Cyclic hydrocarbons (0.67), Aluminium foil (whether or not printed or backed with paper, paperboard, plastics... (0.67), and Printed matter, n.e.c., including printed pictures and photographs (0.66). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Oman according to the relatedness index, were Gold (0.13), Tropical Fruits (0.12), Crustaceans (0.12), Raw Cotton (0.12), and Raw Sugar (0.12). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Oman is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Oman. These are products that tend to be co-exported with the products that Oman exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

Scale

During the last 20 years Oman's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨71st to the 73rd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI Ranking by Country

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