The economy of Oman relies heavily on oil exports for revenue. A major portion of nation’s energy consumption is from natural gas and the remaining is from oil. These indicate towards an abundance of natural gas and oil reserves in the country. Oman is emphasising more on the use of natural gas in energy generation so as to reserve more oil for export.

GDP

(Source: Central Bank)

The preliminary figure of GDP in 2009 was OMR 17.7 billion, compared to OMR 23.2 billion in 2008. The annual GDP growth rate has declined from 43.88% in 2008 to -23.52% in 2009.

In the first half of 2010, GDP at current prices amounted to OMR 10.9 billion, a growth of 33.9% compared to the first half of 2009.

(Source: Central Bank)

Gross National Income (GNI) per capita

Oman’s GNI per capita at PPP in the year 2010 amounted to USD 25,653 as compared to USD 20,485 in 2005.

(Source: UNDP)

Income Tax Rate

There is no payroll tax or employment income tax in Oman.

(Source: moneoman.gov.om)

Corporate Tax Rate

(Source: moneoman.gov.om)

Inflation Rate

(Source: moneoman.gov.om)

The average inflation rate, measured in terms of annual change in the Consumer Price Index (CPI), in the second quarter of 2010 was 3.3% as compared to 3.9% in the corresponding quarter of 2009.

The average inflation rate till October 2010 was 3.1%

(Source: moneoman.gov.om)

(Source: moneoman.gov.om)

The country’s inflation in 2008 rose to 12.4% and then dipped to 3.4% in 2009.

Foreign Direct Investment (FDI) Inflow

(Source: Central Bank)

P = preliminary

Foreign Direct Investment in Oman measured as liabilities reflected a marginal decline from OMR 907 million in 2008 to OMR 850 million in 2009.

Banking sector assets

The table below displays the assets of the Central Bank of Oman.

Currency Unit: Omani Rial (OMR)

(Source: Central Bank)

In 2010, assets of Central Bank of Oman were registered at OMR 5,296.6 million as compared to OMR 5,040.6 million in 2009.

(Source: Central Bank)

Consumer price index

(Source: moneoman.gov.om)

The CPI increased in the last four quarters, indicating that there was a rise in prices of consumer goods in Oman. The CPI in the second quarter of 2010 was 132.7 compared to 128.5 in the corresponding period in 2009.

(Source: moneoman.gov.om)

Wholesale price index

Base year 2000=100

(Source: moneoman.gov.om)

Interest rates

The average interest rate in the second quarter of 2010 was 6.3% compared to 6.4% in the previous quarter. The average interest rate in 2009 was 6.5% compared to 6.3% in 2008.

(Source: moneoman.gov.om)

Money supply

(Source: Central Bank)

Government debt

At the end of September 2010, the government’s total debt amounted to OMR 1,205.9 million. At the end of 2009, the debt amounted to OMR 1,068.3 million. The external debt in September 2010 was OMR 879.8 million and domestic debt was OMR 326.1 million.

(Source: Central Bank)

Official exchange rate

(Source: Central Bank)

Government finances

Fiscal balance

(Source: Central Bank)

The fiscal balance was fluctuating in 2009. In the first quarter of 2010, the fiscal balance recorded a surplus of OMR 421.2 million. However, in the third quarter of 2010 the fiscal balance registered a deficit of OMR 814.4 million.

(Source: Central Bank)

In 2009, the fiscal balance was in deficit of OMR 680.3 million. The fiscal balance had declined from the surplus of OMR 78.4 million in the previous year. A fiscal deficit was achieved primarily due to a rise in development spending and a decline in oil and gas revenues.

(Source: Central Bank)

Total revenue

(Source: Central Bank)

The total revenue declined due to a reduction in oil ans gas revenues. In 2009, oil revenues decreased by 11.83% and gas revenues declined by 19.63%.

Tax revenue

p = provisional

(Source: Central Bank)

The bulk of tax revenues was gained from taxes on companies and establishments. In 2009, the revenue from tax on companies and establishments amounted to OMR 370.1 million compared to OMR 237.4 million in 2008, increasing by 55.90%.

Total expenditure

(Source: Central Bank)

Grants

(Source: Central Bank)

Net grants received in 2009 amounted to OMR 21.3 million.

Current account balance

P = preliminary figure

(Source: Central Bank)

Oman’s current account balance recorded a deficit of OMR 108 million in 2009 compared to a surplus of OMR 1,931 million in 2008. Oman recorded a deficit after running a current account surplus for nine consecutive years.

Balance of payments

(Source: Central Bank)

The balance of payments declined in the past three years. The overall balance has declined from OMR 2,404 million in 2007 to OMR 297 million in 2009.

Labour force

The majority of Oman’s labour force is employed in the public sector. In 2009, the employment in civil services within the public sector was 126,134 people, whereas employment in private sector was only 1,032 people.

(Source: moneoman.gov.om)

Employment in agriculture

The number of expatriate employees in agriculture and fishing was 68,134 in 2009 compared to 66,522 in 2008, which was an annual increase of 2.42%. The share of agriculture and fishing sector employment of expatriates was 7.79% in 2009.

(Source: Central Bank)

Unemployment rate

There is no official data available on Oman’s unemployment. However, in 2004 CIA estimated the unemployment rate was 15%.

(Source: ahram.org.eg)

Minimum wage

In 2011, the Omani government raised the minimum wage of nationals working in the private sector. The minimum wage has increased from OMR 140 to OMR 200 per month. The wage rise will be applicable to new employees from 1^st March 2011. The salaries of existing employees will also be adjusted.

(Source: omanobserver.om)

Level of unionisation

The Trade Unions Department of Oman supervises the registration of labour unions and issues registration certificates. The department functions  are carried out through two sections:

• Labour unions section:  monitors the activities and works of the labour unions.
• General Confederation of the Sultanate of Oman's Worker's section:  deals with the activities and works of the trade unions and labour unions.

(Source: manpower.gov)             

Government stability

Oman is a monarchy. The Sultan of Oman is the head of the government. The Sultan is responsible for internal security, defence, finance and oil affairs. The government includes the Council of Ministers, the National Defence Council and the National Development Council. The policies are formed based on personal discussions between the Sultan and the ministers.

Sultan Qaboos bin Said is currently the head of the government.

(Source: omanet.om)

The parliament of Oman is known as the Majles and is bicameral . It consists of 72 members. At present, women make up 19.44% of the total members. The 72 members are elected for a term of four years.

(Source: ipu.org)

Regulatory environment

The Consultative Council was established in 1981, which provides Oman’s citizens with the opportunity to participate in government.

(Source: heritage.org)

According to the Economic Freedom Index 2011, Oman is the 34^th freest economy in the world with an economic freedom score of 69.8. Compared to last year the total freedom score increased by 2.1 points. It shows there have been improvements in business freedom, monetary freedom and government spending.

(Source: heritage.org)

Corruption perception

The Corruption Perceptions Index (CPI) is a survey conducted to measure the perceived level of corruption across countries worldwide. According to 2010 results, Oman is ranked 41^st on this list with a score of 5.3 which indicates that the corruption level in public departments in Oman is moderate.

Oman's ranking in the CPI index slipped from 39^th in 2009 to 41^st by the end of 2010 reflecting a rise in the level of corruption in Oman.

(Source: transparency.org)

Freedom of information

Oman is ranked 124^th in the World Press Freedom Index 2010 with a score of 40.25. It indicates that the freedom of the media in Oman is limited.

 (Source: rsf.org)

The press act empowers the government to censor publications for political or cultural reasons.

The main newspapers circulating in Oman include:

• Al-Watan
• Oman Daily
• Oman Observer
• Times of Oman
• Muscat Daily

(Source: BBC)

Judicial system

Islamic Sharia law is the basis for Oman legislation. The various judicial authorities of the nation include:

The Supreme Judicial Council - The Supreme Judicial Council creates the general judicial policies. It monitors the legal procedures, judicial appointments and promotions. It ensures the independence of the judiciary. It also monitors the work of the courts and the public prosecutor's office. It is mainly involved in proposing laws on judicial issues and provides suggestions on the judicial co-operation agreements with other states.

(Source: omanet.om, mofa.gov.om)

The Supreme Court- It is the apex court in Oman, headed by the president of the Supreme Court. It looks after appeals and the implementation of laws from court decisions. The Judiciary’s Administrative Affairs Council monitors every aspect of personnel affairs and is headed by the President of the Supreme Court.

The Courts of First Instance - It looks after civil and commercial cases, personal status cases and other cases including labour, tax, rent and requests for arbitration.

The Courts of Appeal - It decides on the disputed rulings delivered by the Courts of First Instance. They are situated in Muscat, Nizwa, Salalah, Sohar, Ibra and Ibri.

The Notary-Public Departments - It ensures smooth functioning of the legal transactions. It attests signatures and produces documents and deeds including marriage documents, divorce certificates, widowhood confirmation documents and other papers. It confirms the dates on unofficial documents and papers.

The Administrative Court - It delivers rulings on the administrative disputes and hears the claims filed by the employees against their departments. It ensures the rulings are in accordance with terms of the law.

(Source: omanet.om, omanet.om, mofa.gov.om)

According to the 2010 census, Oman’s population reached 2,694,094. The total population mid-2009 was 3,173,917. In 2009, the total population included 2,017,559 Omanis and 1,156,358 expatriates. Omanis constitute 63.6% of the total population and 36.4% are expatriates.

(Source: omanet.om)

The total number of men and women in Oman in mid-2009 was 1,971,115 and 1,202,802 respectively.

Gender balance

According to the 2003 census, there were 102 Omani men for 100 Omani women reflecting a stable gender ratio.

(Source: omancensus.net)

The number of individuals below the age of 14 was 24.3% in 2009. In the same year, the population aged 65 years and above was 1.5%.

The crude birth rate per 1,000 people in 2009 was 29.47.

(Source: moneoman.gov.om)

Mortality rate

(Source: moneoman.gov.om)

Life expectancy

The life expectancy at birth in 2009 was 72.7 years. The life expectancy at birth for men and women was 70 years and 75.7 years respectively.

(Source: moneoman.gov.om)

Racial/ethnic environment

Oman’s ethnic make-up consists of Arab, African, Baluchi and Asians including people of Indian, Pakistani, Bangladeshi and Sri Lankan origin.

The majority of Oman's population are Ibadhi Muslims. The rest of the Omani population includes Sunni and Shia Muslims and also South Asian Hindus and Christians.

(Source: fco.gov.uk)

Migration and urbanisation

The estimated number of international migrants  mid-2010 was 826,074 or 28.4% of the total population. Of the total number of international migrants the estimated number of female migrants was 171,533 and that of male migrants was 654,541.

(Source: un.org)

Education/literacy rate

According to the World Bank, the literacy rate of the population above the age of 15 in 2008 was 87%.The literacy rate of males aged 15 years and above is 90% and that of females is 80.9%.

Public expenditure on education is approximately 4% of Oman's GDP.

(Source: destatis, worldbank)

In primary education, the gross enrolment ratio of males was 74% and 75% for females. The corresponding figure for secondary education was 90% for males and 87% for females.  The number of pupils available per teacher in primary education was 12 and in secondary education was 14.

 (Source: destatis)

Education resources

Education is  one of the areas of priority and is included in the government’s Five Year Development Plan. The Ministry of Education’s national programme is upgrading the education system as a whole to align it with international educational trends.

Electronic learning: The Ministry of Education provides electronic learning for educational and training programmes and are provided through the internet.

Private higher education institutions: The government encourages the growth of private higher education institutions and offers extensive facilities for their development. Private universities receive grants amounting to 50% of their paid-up capital, extending to a maximum of OMR 3.0 million.

 (Source: omanet.om)

Healthcare resources

Oman is one of the world’s advanced nations in terms of healthcare. Oman’s health care structure includes:

• Primary Health Care:  is provided by health centres, polyclinics and local hospitals in all regions of the country.
• Secondary Health Care: includes specialist healthcare requiring higher level of specialised skills
• Tertiary Health Care:  is provided by large hospitals in Muscat which also operate as nationwide referral hospitals

Oman’s Ministry of Health has adopted an e-health strategy, for which information communication and technology (ICT) will be used in all health care institutions.

(Source: omanet.om)

Mass public transit

The public transport in Oman include taxis and buses. Services in Oman are provided by the Oman National Transport Company.

(Source: omanet.om)

Ports

The ports in Oman are Port of Khasab located in the Musandam Governorate of Oman, Port of Salalah, Port of Mina Al Fahal, Port Sultan Qaboos, which is one of the largest ports in Muscat, Port of Qalhat and Port of Sohar.

(Source: e-ships.net)

Airports

The airports in Oman are:

(Source: aircraft-charter)

Telecommunications networks

According to the International Telecommunication Union (ITU), Oman had approximately 1,236,700 internet users in 2010 compared to 557,000 users in 2009. In 2010, the number of internet users made up 41.7% of the population.

(Source: internetworldstats)