Overview: In 2019 Oman was the number 69 economy in the world in terms of GDP (current US$), the number 57 in total exports, the number 67 in total imports,
the number 58 economy in terms of GDP per capita (current US$) and the number 83 most complex economy according to the Economic Complexity Index (ECI)
In 2019, Oman exported a total of $37.5B, making it the number 57 exporter in the world. During the last five reported years the exports of Oman have changed by -$10.6B from $48.1B in 2014 to $37.5B in 2019.
In 2019 Oman imported $30B, making it the number 67 trade destination in the world. During the last five reported years the imports of Oman changed by -$2.38B from $32.4B in 2014 to $30B in 2019.
In 2018, Oman exported $4.46B worth of services. The top services exported by Oman in 2018 were Transportation ($2.12B), Personal travel ($1.32B), Business travel ($440M), Other business services ($437M), and Computer and information services ($104M).
The top services imported by Oman in 2018 were Transportation ($4.52B), Other business services ($3.4B), Personal travel ($2.17B), Insurance services ($1.06B), and Business travel ($369M).
*The tariffs applied to imports for Oman are:136: Most Favoured Nation duty rate treatement217: Preferential tariff for European Free Trade Association (EFTA) countries231: Preferential tariff for Gulf Cooperation Council (GCC)299: Preferential tariff for Singapore313: Preferential tariff for the League of Arab States328: Preferential tariff for United States
During the last 20 years Oman's economy has become relatively más complex, moving from the 112th to the 83rd 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.
The top export opportunities for Oman according to the relatedness index, are Gold (0.1), Crustaceans (0.1), Tropical Fruits (0.099), Sheep Hides (0.098), and Other Oily Seeds (0.097). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Oman is not specialized in.
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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a 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 emissions.