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Oman: Economy
INTRODUCTION
1. Political situation
2. Economy
3. Health & Education
4. Religions & Peoples
5. History
GDP: US$21.9 billion
GDP/capita: US$7,820
GDP/sector: Agriculture 3%, Industry 40%, Services 57%
Foreign debts: US$5.3 billion
Foreign debts/GDP: 24%
Foreign debts/capita: US$1,890
Annual growth in GDP: 7.4% (2001)
Trade balance: +102%
Export products: Petroleum, reexports, fish, metals, textiles.
Annual inflation rate: 1%
Official unemployment: Not available
Population below poverty line: Not available
All figures are 2002 estimates.
Fixed since 1986:
US$1= 0.3845 Omani rials
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Omani citizens enjoy good living standards, but the future is uncertain with Oman's limited oil reserves. The other sources of income, agriculture and local industries are small in comparison, and count for less than 1% of the country's exports. Agriculture, often subsistence in its character, is producing dates and limes, grains and vegetables. Less than 1% of the country is under cultivation. But in general, food has to be imported. Fishing is bringing in about 120,000 tons annually, more than 50 kgs/inhabitant. Industries contribute only with 4% of GNP, but there are governmental plans to increase this.
Oil production is extracted and processed by Petroleum Development, which is owned by the Omani governments (60%) and the Royal Dutch Shell (34%), as well as several other oil companies. Oil reserves are limited though, and the proven reserves will run out in few years time. Oman has other mineral resources, like copper, asbestos and marble, but this is little exploited.
There are no railways, and roads are good only in the area with substantial habitation. Close to the capital, there are seaports and an international airport.
Oman has 3 newspapers, of which 1 is issued in English. Oman has high levels on dispersion of telephones, TV-sets and radios.
© Copyright 1996-2008 LookLex Ltd. All rights reserved
By: Tore Kjeilen
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