Oman: economy

What is the GDP growth rate in Oman?

Oman's real GDP was 5.1% higher in the second quarter of 2026 than a year earlier, according to the quarterly national accounts indicators for Q2 2026 published by the National Centre for Statistics and Information (NCSI). Oil activities grew 14.7% in real terms, while non-oil activities grew 0.7%. At current prices GDP was 25.6% higher, at about OMR 12.9 billion for the quarter; at constant prices it was about OMR 9.9 billion.

The gap between current-price and real growth reflects higher oil and gas prices as well as volumes. Because hydrocarbons are a large share of output, quarterly growth in Oman moves with oil production quotas and prices, so the oil and non-oil split gives a clearer picture of the wider economy.

Official sources: NCSI: Quarterly national accounts indicators, Q2 2026 (PDF)

What is the inflation rate in Oman?

Consumer prices in Oman were 3.2% higher in September 2026 than in September 2025, according to the consumer price inflation release for September 2026 from the National Centre for Statistics and Information (NCSI). Average inflation for January to September 2026 was 3.0%. The index uses 2018 as its base year.

The headline rate is driven partly by food, which was 8.4% more expensive than a year earlier. Prices rose 3.3% in Muscat and 2.1% in Dhofar, so the rate differs by governorate. NCSI publishes the CPI monthly in English and Arabic, with breakdowns by expenditure group and by governorate.

Official sources: NCSI: Consumer price inflation, September 2026 (PDF)

How much oil does Oman produce?

Oman produced 270,020.4 thousand barrels of oil in the first eight months of 2026, 11.9% more than the 241,370.7 thousand barrels produced in the same period of 2025, according to the energy statistics indicators released in October 2026 by the National Centre for Statistics and Information (NCSI). Oil exports in August 2026 were 27,104.2 thousand barrels, 3.1% more than in August 2025.

The figures are preliminary. NCSI's energy release also covers natural gas production and use, refinery output and petrochemicals, with data running two months behind the release date. Natural gas production and imports reached 40,480.3 million cubic metres in the first eight months of 2026, 6.4% more than a year earlier.

Official sources: NCSI: Energy statistics indicators, October 2026 (PDF)

What are Oman's main exports?

Oman's merchandise exports were OMR 15,866 million in January to July 2026, according to the Monthly Statistical Bulletin for September 2026 from the National Centre for Statistics and Information (NCSI). Oil and gas exports were OMR 10,417 million, 21.6% more than a year earlier: crude oil OMR 5,898 million, refined oil OMR 2,829 million and liquefied natural gas OMR 1,690 million (up 43.7%). Non-oil exports were OMR 4,309 million, up 10.7%.

Oil and gas account for about two thirds of the total, so export values move with energy prices. The bulletin also breaks down trade by partner country and product group.

Official sources: NCSI: Monthly Statistical Bulletin, September 2026 (PDF)

What are interest rates in Oman?

The average interest rate on total bank credit in Oman was 5.311% in July 2026, down from 5.510% a year earlier, according to the banking table in the Monthly Statistical Bulletin for September 2026 from the National Centre for Statistics and Information (NCSI), which uses Central Bank of Oman data. Broad money (M2) was OMR 29,252.1 million, 14.9% higher than a year earlier, and total loans and financing were OMR 38,258.4 million, up 12.2%.

The rate above is an average across all loans and financing, not the Central Bank of Oman's policy rate. The central bank's own site, which publishes its policy decisions, did not respond on 15 October 2026, so the policy rate is not quoted here.

Official sources: NCSI: Monthly Statistical Bulletin, September 2026 (PDF)

How fast is Oman's economy growing?

According to the World Bank, real GDP growth in Oman was 2.4% in 2025. Its high point since 2005 was 2008, at 9.0%; its low point was 2020, at -3.4%. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 3.5%, and Oman placed 15th highest of 17. Worldwide: 120th of 180.

What is GDP per capita in Oman?

The World Bank puts GDP per person in Oman at $19,947 in 2025. Since 2005 it has ranged from $14,435 (2005) to $26,577 (2008). Middle East, North Africa, Afghanistan & Pakistan median: $6,051; Oman is 7th highest of 17. Worldwide: 52nd of 180.

How does Oman's income per person compare after prices?

$42,295 in international dollars: that is GDP per person at purchasing power parity in Oman for 2025, according to the World Bank. The peak was $55,667 in international dollars in 2010 and the low $33,334 in international dollars in 2016. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was $19,699 in international dollars, and Oman placed 7th highest of 17. World rank, highest first: 51st of 179.

How big are Oman's exports?

The latest figure from the World Bank, for 2024, is 66.1% of GDP. That is the highest since at least 2005. It is 5th highest of 17 in Middle East, North Africa, Afghanistan & Pakistan, where the median is 39.8% of GDP. Of 162 countries with 2024 data, 29th highest.

What is Oman's current account balance?

According to the IMF, the current account balance in Oman was -1.1% of GDP in 2025, which is a deficit. Since 2005 it has ranged from -16.6% of GDP (2020) to 14.6% of GDP (2005). It is 7th highest of 12 in Middle East, North Africa, Afghanistan & Pakistan, where the median is -0.6% of GDP. World rank, highest first: 69th of 132.

How much foreign direct investment goes into Oman?

The latest figure from the IMF, for 2025, is 6.2% of GDP. The peak was 11.8% of GDP in 2023 and the low -2.8% of GDP in 2015. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 1.8% of GDP, and Oman placed 2nd highest of 17. World rank, highest first: 28th of 179.

What are bank lending rates in Oman?

In 2021, the average bank lending rate in Oman was 5.5%, according to the IMF. The peak was 7.4% in 2007 and the low 4.9% in 2015. It is 5th highest of 8 in Middle East, North Africa, Afghanistan & Pakistan, where the median is 6.3%. Worldwide: 83rd of 106.