Oman is the 53rd largest export economy in the world. In 2016, Oman exported $21.1B and imported $20.6B, resulting in a positive trade balance of $439M. In 2016 the GDP of Oman was $66.3B and its GDP per capita was $15k.
The top exports of Oman are Crude Petroleum ($12.5B), Petroleum Gas ($2.68B), Refined Petroleum ($2.43B), Iron Ore ($650M) and Raw Aluminium ($645M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Cars ($3.11B), Refined Petroleum ($3.1B), Unspecified ($899M), Gold ($565M) and Delivery Trucks ($529M).
The top export destinations of Oman are China ($10.7B), the United Arab Emirates ($1.84B), India ($924M), the United States ($811M) and Iraq ($759M). The top import origins are the United Arab Emirates ($5.15B), India ($2.58B), Japan ($2.55B), China ($2.15B) and the United States ($1.8B).
Oman borders the United Arab Emirates, Saudi Arabia and Yemen by land and Iran and Pakistan by sea.
Exports
In 2016 Oman exported $21.1B, making it the 53rd largest exporter in the world. During the last five years the exports of Oman have decreased at an annualized rate of -18.684%, from $44.7B in 2011 to $21.1B in 2016. The most recent exports are led by Crude Petroleum which represent 59.5% of the total exports of Oman, followed by Petroleum Gas, which account for 12.7%.
Imports
In 2016 Oman imported $20.6B, making it the 55th largest importer in the world. During the last five years the imports of Oman have decreased at an annualized rate of -16.649%, from $24.9B in 2011 to $20.6B in 2016. The most recent imports are led by Cars which represent 15.1% of the total imports of Oman, followed by Refined Petroleum, which account for 15%.
Trade Balance
As of 2016 Oman had a positive trade balance of $439M in net exports. As compared to their trade balance in 1995 when they still had a positive trade balance of $885M in net exports.
Destinations
The top export destinations of Oman are China ($10.7B), the United Arab Emirates ($1.84B), India ($924M), the United States ($811M) and Iraq ($759M).
Origins
The top import origins of Oman are the United Arab Emirates ($5.15B), India ($2.58B), Japan ($2.55B), China ($2.15B) and the United States ($1.8B).
ECONOMIC COMPLEXITY OF OMAN
Product Space
The product space is a network connecting products that are likely to be co-exported and can be used to predict the evolution of a country’s export structure.
Oman exports 96 products with revealed comparative advantage (meaning that its share of global exports is larger than what would be expected from the size of its export economy and from the size of a product’s global market).
Complexity and Income Inequality
In this version of the product space products are colored according to their Product Gini Index, or PGI. The PGI of a product is the level of income inequality that we expect for the countries that export a product. For more information see: Linking Economic Complexity, Institutions and Income Inequality and The structural constraints of income inequality in Latin America.
Economic Complexity Ranking
In this version of the product space products are colored according to their Product Gini Index, or PGI. The PGI of a product is the level of income inequality that we expect for the countries that export a product. For more information see: Linking Economic Complexity, Institutions and Income Inequality and The structural constraints of income inequality in Latin America.