Aaron O'Neill
Research expert covering historical data
Oman - Statistics & Facts
Oman is officially called the Sultanate of Oman. It is located on the southeastern coast of the Arabian Peninsula. It is bordered to the northwest by the United Arab Emirates, to the west by Saudi Arabia and to the southwest by Yemen. Oman is a monarchy and the current sultan has been in power longer than any other ruler in the Middle East. In 2011, Omanis began staging demonstrations in the country calling for more jobs and economic benefits and an end to government corruption. The government has responded and has since introduced unemployment benefits and attempts have been made to allow more citizen participation in local governance.
Oman’s population amounts to around 4 million people nowadays and is increasing further. The capital of Oman is Muscat, but the largest city is Bawshar, hosting almost 400,000 people. The vast majority of Omanis live in urban areas. Population growth within the country has been rising, but peaked in 2013 and has been falling fell again since. The fertility rate has remained quite stable over the years, and the life expectancy at birth of inhabitants is quite high at about 77 years.
GDP has dipped slightly in 2016 but is expected to soar by 2022. Presently, industry composes the largest share of GDP generation with more than half, while the services sector is hot on its heels, and, way behind, agriculture contributes a mere 1.6 percent share. The country has a positive trade balance, meaning a trade surplus, which is dwindling due to the dominating oil exports facing a crisis. With agriculture forming only a 1 percent share of GDP, the country is heavily dependent on food imports. At present, the most important import trade partners include China, the United Arab Emirates, and Japan, and for exports China, the United Arab Emirates, and South Korea. The country has little debt in relation to GDP, but debt is expected to rise and government expenditure has been rising. Also, oil reserves in the country are dwindling and this will force the country to diversify its generation of GDP.
Unemployment in the country is still quite high, but Omanis now receive unemployment benefits, as mentioned above, which secures a certain standard of living. Gross domestic product per capita is average and expected to increase in line with GDP. In the future, Oman will need to continue to meet the employment needs and job creation desires of its population, as oil exports decrease.
Oman’s population amounts to around 4 million people nowadays and is increasing further. The capital of Oman is Muscat, but the largest city is Bawshar, hosting almost 400,000 people. The vast majority of Omanis live in urban areas. Population growth within the country has been rising, but peaked in 2013 and has been falling fell again since. The fertility rate has remained quite stable over the years, and the life expectancy at birth of inhabitants is quite high at about 77 years.
GDP has dipped slightly in 2016 but is expected to soar by 2022. Presently, industry composes the largest share of GDP generation with more than half, while the services sector is hot on its heels, and, way behind, agriculture contributes a mere 1.6 percent share. The country has a positive trade balance, meaning a trade surplus, which is dwindling due to the dominating oil exports facing a crisis. With agriculture forming only a 1 percent share of GDP, the country is heavily dependent on food imports. At present, the most important import trade partners include China, the United Arab Emirates, and Japan, and for exports China, the United Arab Emirates, and South Korea. The country has little debt in relation to GDP, but debt is expected to rise and government expenditure has been rising. Also, oil reserves in the country are dwindling and this will force the country to diversify its generation of GDP.
Unemployment in the country is still quite high, but Omanis now receive unemployment benefits, as mentioned above, which secures a certain standard of living. Gross domestic product per capita is average and expected to increase in line with GDP. In the future, Oman will need to continue to meet the employment needs and job creation desires of its population, as oil exports decrease.
