Oman2021 Economic Complexity Trade : -0.2, Rank 73 of 131
2021 Economic Complexity Technology : -1.38, Rank 89 of 96
2021 Economic Complexity Research : -0.78, Rank 110 of 140
2021 Product Exports | Imports: $56.9B | $34B, 53 of 226 | 67 of 226
2021 Per Capita Product Exports | Imports: $10.9k | $6.5k, 65 of 219 | 78 of 219
Overview In 2021, Oman was the number 64 economy in the world in terms of GDP (current US$), the number 53 in total exports, the number 67 in total imports, the number 52 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 N/A, importing mostly from N/A.
Location Oman borders Saudi Arabia, United Arab Emirates, and Yemen by land and Iran and Pakistan by sea.
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.
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.
Fastest Growing Export Markets (2020 - 2021)
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).
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.
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.
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.
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.
During the last 20 years Oman's economy has become relatively less complex, moving from the 69th 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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