Countries / Gulf / Oman

Oman

High income · Hydrocarbon exporter · Data availability: good

A modest oil and gas producer relative to its neighbors, betting on ports, logistics, mining, and fisheries under its Vision 2040 plan. Strategic position outside the Strait of Hormuz gives its ports rare geographic value.

Alerts · what moved recentlyAll signals →

MilestoneNew

Oman's current account balance as a share of GDP moved into deficit in 2025, a deficit of 1.09%, the first deficit since 2021.

Trade & external · data through 2025

Financing

Oman issued its 12th local sovereign sukuk to finance development projects.

Oct 19, 2026 · Ministry of Finance

Agreement

Oman ratified its railway-link development agreement with the UAE.

Sep 3, 2026 · Sultan of Oman

Policy reform

Oman published amendments to its Mineral Resources Law.

Sep 6, 2026 · Sultan of Oman

Vitals

Core figures — the latest value each source holds, the previous reading and the bloc median.

GDP

$109.6B

as of 2025

up from $107.1B (2024)

Gulf median $186.4B

Real GDP growth

2.4%

as of 2025

up from 1.6% (2024)

Gulf median 3.2%

Inflation, year-on-year

3.4%

as of Aug 2026

up from 3.2% (Jul 2026)

GDP per person

$19,947

as of 2025

down from $20,285 (2024)

Gulf median $33,424

Dimmed cards hold figures more than a year old. All of this country's data in the Database →

Quarterly report

Written once from the quarter's findings, then frozen.

All reports →

Q3 2026 · Oman

OMN — Q3 2026 brief

The findings published for Oman in Q3 2026 included an IMF monthly all-items consumer price index observation of 110.20 in 2026, 2.35 standard deviations above the 2021–2026 historical mean of 105.89; the historical standard deviation was 1.83. This finding was later replaced by a newer version, and the supplied observation did not identify a month.

Read the full report

Editions

Q3 2026→

All publications

Signals & patterns

Everything MENACodex detects for this economy — the lead finding charted, the rest filtered by pattern and sector.

PatternSector

Trend · Financial sector

Annual growth in Oman's stock market index, local currency has slowed for 4 straight months, from 92% in April 2026 to 52% in August 2026.

Stock market index, local currency (monthly) [World Bank GEM] (index)115

Source: World Bank Global Economic Monitor · data through August 2026

MilestoneOman's current account balance as a share of GDP moved into deficit in 2025, a deficit of 1.09%, the first deficit since 2021.

newdata through 2025

OutlierOman's annual inflation reached 3.17% in July 2026, 2.2 points above its 2016–2025 July average of 1.00%. A gap that large has not appeared in the past 11 Julys.

data through July 2026

ReversalOman's food price inflation rose for 9 straight months, from -1.71% in August 2025 to 7.50% in May 2026, then fell to 6.87% in June 2026.

data through June 2026

TrendOman's GDP per person at purchasing-power parity at constant prices has fallen for 3 straight years, from $39,780 in 2022 to $36,143 in 2025: down 9.1%.

data through 2025

TrendOman's exports of goods and services at constant prices have risen for 4 straight years, from $34 billion in 2020 to $50.1 billion in 2024: up 47%.

data through 2024

· Signal archive →

Briefs

Analysis pieces on Oman, every number checked against the source.

All briefs on Oman →

stock market index, local currency

Oman's stock market retreats 9.4% from its record high

stock market index, local currency (index)115

Nov 1, 2026 · 2 min read

Agenda Watch

Official decisions and what the news is reporting, with the original source named.

Date	Decision	Type	Source
Oct 19, 2026	Oman issued its 12th local sovereign sukuk to finance development projects.	Financing	Ministry of Finance (mof.gov.om)
Oct 11, 2026	Oman issued a new regulation for recruiting non-Omani labour and set a RO 5,000 guarantee	Policy reform	Ministry of Labour (mol.gov.om)
Oct 11, 2026	Oman approved Ministerial Decision 2026/390 on recruiting non-Omani labour	Policy reform	Ministry of Labour (staff.mol.gov.om)
Sep 20, 2026	Oman issued economic-zone rules with an OMR 10 million threshold for strategic projects.	Policy reform	Public Authority for Special Economic Zones and Free Zones (opaz.gov.om)
Sep 6, 2026	Oman published amendments to its Mineral Resources Law.	Policy reform	Sultan of Oman (mjla.gov.om)
Sep 3, 2026	Oman ratified its railway-link development agreement with the UAE.	Agreement	Sultan of Oman (fm.gov.om)
Aug 23, 2026	Oman issued regulations governing insurance loss assessment and estimation.	Policy reform	Financial Services Authority (fsa.gov.om)
Aug 3, 2026	Oman introduced a free 14-day tourist visa to support tourism.	Policy reform	Royal Oman Police (fm.gov.om)

Development plan

Oman Vision 2040 · what the government promised, its own latest figures, and how far they have come.

Full plan, all 28 goals ↓

Economy

3 of the plan's goals

Real GDP growth1.7%

3.6% at startTarget 5%

Non-oil share of GDP72.8%

61% at startTarget 91.6%

Current account balance as a share of GDP1.83%

-14.8% at startTarget -1.5% · met

People

2 of the plan's goals

Skilled workers' share of private-sector employment56.6%

57.9% at startTarget 83%

Labour productivity growth2.2%

-1.2% at startTarget 2% · met

Public finance

2 of the plan's goals

Public expenditure as a share of GDP29.5%

45.1% at startTarget 25%

Non-oil revenue as a share of GDP8.53%

9.5% at startTarget 18%

The full plan: every goal, the government's figures and the independent series beside them

Development plan

Oman Vision 2040

Oman Vision 2040 Implementation Follow-up Unit · launched 2021, horizon 2040 · 28 measurable goals, 11 with a reported figure, 3 reached · plan document · latest progress report

Vision document prepared in 2019; implementation from 1 January 2021 with the Tenth Five-Year Plan (2021–2025); the Eleventh (2026–2030) runs now. The Follow-up Unit (Royal Decree 100/2020) has issued four progress reports; the fourth (October 2025) said 74% of indicators were progressing. In 2023 the Unit cut the tracked set from 68 to 39 indicators, so the figures it reports do not map one-to-one onto the 2019 document.

Progress bars run from the baseline the plan now tracks to its current target. Government figures are as reported by the government; where an independent source measures the same thing, its figure is shown beside them.

1Global Innovation Index scoreNo progress figure reported
32.8 (2018)
51.98 by 2040
Check
No independent source measures this goal. Published yearly by WIPO; not in the platform's catalogue.
Official status
Rank 69 in the 2025 edition, up 5 places (fourth progress report); the report gives the rank, not the score.
Tracked as
Global Innovation Index score
As printed in the plan
Global Innovation Index: 32.8 (rank 69 of 127, 2018) to over 41.19 or top 40 (2030) and over 51.98 or top 20 (2040) (V19 p.21)
Note
Interim 2030 value: 41.19. WIPO Global Innovation Index, 0–100. The plan states each target as a score or a rank; the score is tracked here.
2Healthy life expectancy at birthNo progress figure reported
65.6 years (2016)
70 years by 2040
Independent figure
World Bank — World Development Indicators, life expectancy at birth: 80.25 years in 2024
Check
No year is reported by both. The World Bank series is total life expectancy at birth, not healthy life expectancy; it runs about 10 years higher and is shown for direction only.
Tracked as
Healthy life expectancy at birth
As printed in the plan
Healthy Life Expectancy at Birth: 65.6 years (2016) to 67 (2030) and 70 (2040) (V19 p.23)
Note
Interim 2030 value: 67. WHO healthy life expectancy (HALE), years lived in full health — lower than total life expectancy.
3Social Progress Index scoreNo progress figure reported
68.2 (2018)
86.76 by 2040
Check
No independent source measures this goal. Not in the catalogue.
Official status
Rank 59 globally, up 9 places, in the fourth progress report (2024–25); score not given.
Tracked as
Social Progress Index score
As printed in the plan
Social Progress Index: 68.2 (rank 66 of 146, 2018) to over 76.27 or top 40 (2030) and over 86.76 or top 20 (2040) (V19 p.27)
Note
Interim 2030 value: 76.27. Social Progress Imperative, 0–100.
4Human Development IndexNo progress figure reported
0.821 (2018)
0.908 by 2040
Check
No independent source measures this goal. UNDP series; not in the catalogue.
Tracked as
Human Development Index
As printed in the plan
Human Development Index: 0.821 (rank 48 of 189, 2018) to over 0.871 or top 30 (2030) and over 0.908 or top 20 (2040) (V19 p.27)
Note
Interim 2030 value: 0.871. UNDP HDI, 0–1.
5Real GDP per personNo progress figure reported
OMR 6,264 (2017)
OMR 11,902 by 2040
Independent figure
World Bank — World Development Indicators, GDP per person at constant prices: $17,074.175 in 2025
Check
No year is reported by both. The World Bank series is in constant US dollars; the percentage change from 2017 is comparable, the level is not.
Tracked as
Real GDP per person
As printed in the plan
Real GDP per Capita: OMR 6,264 (2017), growth of 40% by 2030 and 90% by 2040 (V19 p.27)
Note
Interim 2030 value: 8770. Constant-price GDP per person in Omani rials; the plan states the targets as growth from the 2017 level (+40%, +90%), converted here to levels.
6Income inequality (Gini coefficient)No progress figure reported
0.31 (2016)
0.28 by 2040
Check
No independent source measures this goal. Same measure, but the World Bank has no Gini figure for Oman.
Tracked as
Income inequality (Gini coefficient)
As printed in the plan
Gini Coefficient: 0.31 (2016) to 0.31 (2030) and 0.28 (2040) (V19 p.27)
Note
Interim 2030 value: 0.31. From the Household Expenditure and Income Survey (NCSI); 0 = perfect equality.
7Regulatory quality (Worldwide Governance Indicators)No progress figure reported
0.42 (2017)
1.44 by 2040
Independent figure
World Bank — World Development Indicators, regulatory quality - governance estimate: 0.693 in 2025
Check
No year is reported by both. Same series.
Tracked as
Regulatory quality (Worldwide Governance Indicators)
As printed in the plan
Regulatory Quality: 0.42 (rank 67 of 209, 2017) to over 1.23 or top 30 (2030) and over 1.44 or top 20 (2040) (V19 p.29)
Note
Interim 2030 value: 1.23. World Bank Worldwide Governance Indicators estimate, −2.5 to 2.5.
8Real GDP growth1.7% in 2024
3.6% (2017)
5% by 2040
As reported by the government
2024: 1.7% (ONA25)
Independent figure
World Bank — World Development Indicators, GDP annual growth rate: 2.4% in 2025
Check
The independent figure agrees with the government's. In 2024: government 1.7%, independent 1.63%. Same series.
Official status
1.7% in 2024 (NCSI, constant prices).
Tracked as
Real GDP growth
As printed in the plan
Real GDP Growth: 3.6% average 2000–2017 to 5% (2030) and 5% (2040) (V19 p.29)
Note
Interim 2030 value: 5. Annual growth of GDP at constant prices. The 11th Five-Year Plan (2026–2030) projects an average of 4.0% a year, below the Vision's 5%.
9Fiscal balance as a share of GDPNo progress figure reported
-11.7% (2017)
-3% by 2030
Check
No independent source measures this goal. World Bank general-government net lending/borrowing (% of GDP), close to the budget balance the plan tracks.
Tracked as
Fiscal balance as a share of GDP
As printed in the plan
Fiscal Balance % of GDP: −11.7% (2017) to −3% or better (2030) (V19 p.29)
Note
Government budget balance; the plan gives a 2030 value only.
10Economic Complexity IndexNo progress figure reported
-0.004 (2017)
1.577 by 2040
Check
No independent source measures this goal. Not in the catalogue.
Tracked as
Economic Complexity Index
As printed in the plan
Economic Complexity Index: −0.004 (rank 62 of 126) to over 1.186 or top 20 (2030) and over 1.577 or top 10 (2040) (V19 p.31)
Note
Interim 2030 value: 1.186. Harvard Growth Lab ECI. The plan prints no baseline year; 2017 assumed from the neighbouring rows.
11Non-oil share of GDP72.8% in 2024
61% (2017)
91.6% by 2040
As reported by the government
2024: 72.8% (OO25, press report)
Check
No independent source measures this goal. No international series measures the sector share; World Bank oil and gas rents are a different measure.
Official status
72.8% in 2024 per the fourth progress report (oil 30.9%; the two shares as reported sum to more than 100, so they are likely at current prices with net taxes counted differently).
Tracked as
Non-oil share of GDP
As printed in the plan
Non-oil activities' share of GDP: 61% (2017) to 83.9% (2030) and 91.6% (2040) (V19 p.31)
Note
Interim 2030 value: 83.9. Share of GDP from non-oil activities (NCSI national accounts).
12Current account balance as a share of GDPReached in 2024
-14.8% (2017)
-1.5% by 2040
As reported by the government
2024: 1.83% (OO25, press report)
Independent figure
World Bank — World Development Indicators, current account balance as a share of GDP: -1.09% in 2025 (target met in 2022 on this series)
Check
The independent figure differs from the government's. In 2024: government 1.83%, independent 3.57%. Same series.
Official status
Surplus of 1.83% of GDP in 2024, the third surplus year running — already past the 2040 target.
Tracked as
Current account balance as a share of GDP
As printed in the plan
Current Account balance to GDP: −14.8% (2017) to −7% (2030) and −1.5% (2040) (V19 p.31)
Note
Interim 2030 value: -7. Balance of payments current account as a share of GDP.
13Public expenditure as a share of GDP29.5% in 2024
45.1% (2017)
25% by 2040
As reported by the government
2024: 29.5% (OO25, press report)
Check
No independent source measures this goal. The World Bank series covers central government expense; the plan's measure is total public expenditure.
Official status
29.5% of GDP over 2021–2024 per the fourth progress report.
Tracked as
Public expenditure as a share of GDP
As printed in the plan
Total Public Expenditure to GDP: 45.1% (2017) to 34% (2030) and 25% (2040) (V19 p.31)
Note
Interim 2030 value: 34. Government spending as a share of GDP (Ministry of Finance).
14Non-oil revenue as a share of GDP8.53% in 2024
9.5% (2017)
18% by 2040
As reported by the government
2024: 8.53% (OO25, press report)
Check
No independent source measures this goal. No international series.
Official status
8.53% of GDP over 2021–2024, growing 6.8% a year, per the fourth progress report.
Tracked as
Non-oil revenue as a share of GDP
As printed in the plan
Non-Oil Revenue to GDP: 9.5% (2017) to 15% (2030) and 18% (2040) (V19 p.31)
Note
Interim 2030 value: 15. Government revenue other than oil and gas, as a share of GDP (Ministry of Finance).
15Skilled workers' share of private-sector employment56.6% in 2024
57.9% (2017)
83% by 2040
As reported by the government
2024: 56.6% (OO25, press report)
Check
No independent source measures this goal. National definition; no international series.
Official status
56.6% per the fourth progress report (2024–25), below the baseline.
Tracked as
Skilled workers' share of private-sector employment
As printed in the plan
Percentage of Skilled Labour of Total Labour in Private Sector: 57.9% (2017) to 81% (2030) and 83% (2040) (V19 p.33)
Note
Interim 2030 value: 81. National definition of skilled labour (Ministry of Labour).
16Labour productivity growthReached in 2024
-1.2% (2017)
2% by 2040
As reported by the government
2024: 2.2% (OO25, press report)
Check
No independent source measures this goal. ILO output per worker is a level, not a growth rate.
Official status
2.2% per the fourth progress report (2024–25).
Tracked as
Labour productivity growth
As printed in the plan
Labour Productivity Growth: −1.2% (2017) to 1–2% (2030) and 2–3% (2040) (V19 p.33)
Note
Interim 2030 value: 1. Annual growth of output per worker; the plan gives ranges (1–2%, 2–3%); the lower bound is tracked.
17Omanis' share of new private-sector jobs11.8% in 2024
11.6% (2016)
40% by 2040
As reported by the government
2024: 11.8% (OO25, press report)
Check
No independent source measures this goal. National flow measure; no international series.
Official status
11.8% per the fourth progress report (2024–25).
Tracked as
Omanis' share of new private-sector jobs
As printed in the plan
Omanis' share of total jobs created in the private sector: 11.6% (2016) to 35% (2030) and 40% (2040) (V19 p.33)
Note
Interim 2030 value: 35. Share of jobs created in the private sector each year taken by Omani nationals (Ministry of Labour).
18Export concentration indexNo progress figure reported
0.506 (2016)
0.087 by 2040
Check
No independent source measures this goal. UNCTAD series; not in the catalogue.
Tracked as
Export concentration index
As printed in the plan
Export Product Concentration Index: 0.506 (rank 168 of 217, 2016) to under 0.123 or top 30 (2030) and under 0.087 or top 10 (2040) (V19 p.35)
Note
Interim 2030 value: 0.123. UNCTAD export product concentration (Herfindahl-Hirschmann) index, 0–1; lower means more diversified exports.
19Private investment as a share of GDP17% in 2024
22.8% (2017)
25% by 2030
As reported by the government
2024: 17% (OO25, press report)
Check
No independent source measures this goal. Same measure.
Official status
17% of GDP per the fourth progress report (2024–25), growing 8.4% a year.
Tracked as
Private investment as a share of GDP
As printed in the plan
Gross Private Investment % of GDP: 22.8% (2017) to 25% (2030) and 22% (2040) (V19 p.35)
Note
The document prints a 2040 value (22%) below its 2030 value (25%), likely a misprint; the 2030 value is tracked as the target. The 11th Five-Year Plan projects 21.5% by 2030.
20Foreign direct investment inflows as a share of GDPReached in 2024
4.12% (2017)
10% by 2040
As reported by the government
2022: 4.2% (TO23, press report)2024: 11.1% (OO25, press report)
Independent figure
World Bank — World Development Indicators, inward foreign direct investment as a share of GDP: 11.6% in 2024 (target met in 2021 on this series)
Check
The independent figure agrees with the government's. In 2024: government 11.1%, independent 11.6%. Same definition; the government's 11.1% may rest on the FDI stock rather than net inflows, so the two series can differ widely.
Official status
11.1% of GDP per the fourth progress report (2024–25), described as exceeding the Vision's annual target of 7%; 4.2% in 2022 (second report).
Tracked as
Foreign direct investment inflows as a share of GDP
As printed in the plan
FDI Net Inflow % of GDP: 4.12% (rank 68 of 231, 2017) to 7% (2030) and 10% (2040) (V19 p.35)
Note
Interim 2030 value: 7. Net FDI inflows as a share of GDP. The 11th Five-Year Plan projects 9% (2026) rising to 11.7% (2030).
21Environmental Performance Index scoreNo progress figure reported
51.32 (2018)
74.69 by 2040
Check
No independent source measures this goal. Not in the catalogue.
Official status
Rank 54 in the 2024 edition per the third report (55 per the fourth), up from 149 in 2022; score not given.
Tracked as
Environmental Performance Index score
As printed in the plan
Environmental Performance Index: 51.32 (rank 116 of 127, 2018) to over 65.46 or top 40 (2030) and over 74.69 or top 20 (2040) (V19 p.39)
Note
Interim 2030 value: 65.46. Yale/Columbia EPI, 0–100.
22GDP per unit of energy useNo progress figure reported
6.92 PPP $ per kg oe (2014)
17.3 PPP $ per kg oe by 2040
Independent figure
World Bank — World Development Indicators, GDP per unit of energy use at constant prices: 6.39656134464565 PPP $ per kg oe in 2023
Check
No year is reported by both. Same series; the World Bank stopped updating it around 2015.
Tracked as
GDP per unit of energy use
As printed in the plan
GDP per Unit of Energy Use: 6.92 (2011 PPP $ per kg of oil equivalent, rank 97 of 130, 2014) to over 14.57 or top 20 (2030) and over 17.3 or top 10 (2040) (V19 p.39)
Note
Interim 2030 value: 14.57. GDP (2011 PPP dollars) per kilogram of oil equivalent of energy use.
23Renewable energy share11.5% in 2025
0% (2017)
35% by 2040
As reported by the government
2025: 11.5% (OSW25, press report)
Independent figure
World Bank — World Development Indicators, renewable electricity output as a share of the total: 1.94 in 2021
Check
No year is reported by both. World Bank renewable share of electricity output; the plan says consumption.
Official status
About 11.5% of electricity generation in January–May 2025 (Nama Power and Water Procurement).
Tracked as
Renewable energy share
As printed in the plan
Renewable Energy Consumption % of total consumption: 0% to 20% (2030) and 35–39% (2040) (V19 p.39)
Note
Interim 2030 value: 20. The plan gives 35–39% for 2040; the lower bound is tracked. In practice the government reports the renewable share of electricity generation. No baseline year printed; 2017 assumed.
24Corruption Perceptions Index scoreNo progress figure reported
44 (2017)
73 by 2040
Check
No independent source measures this goal. Not in the catalogue.
Official status
Rank 50 in the 2024 edition, up 20 places (fourth progress report); score not given.
Tracked as
Corruption Perceptions Index score
As printed in the plan
Corruption Perception Index: 44.0 (rank 68 of 178, 2017) to over 63 or top 30 (2030) and over 73 or top 20 (2040) (V19 p.41)
Note
Interim 2030 value: 63. Transparency International CPI, 0–100.
25Voice and accountability (Worldwide Governance Indicators)No progress figure reported
-1.06 (2017)
1.14 by 2040
Independent figure
World Bank — World Development Indicators, voice and accountability - governance estimate: -1.109 in 2025
Check
No year is reported by both. Same series.
Tracked as
Voice and accountability (Worldwide Governance Indicators)
As printed in the plan
Voice and Accountability: −1.06 (rank 165 of 204, 2017) to over 0.88 or top 50 (2030) and over 1.14 or top 30 (2040) (V19 p.41)
Note
Interim 2030 value: 0.88. World Bank Worldwide Governance Indicators estimate, −2.5 to 2.5.
26E-Government Development IndexNo progress figure reported
0.685 (2018)
0.878 by 2040
Check
No independent source measures this goal. UN series; not in the catalogue.
Official status
Rank 41 in the 2024 edition, up 9 places (fourth progress report); index value not given.
Tracked as
E-Government Development Index
As printed in the plan
E-Government Development Index: 0.685 (rank 63 of 193, 2018) to over 0.8301 or top 20 (2030) and over 0.8783 or top 10 (2040) (V19 p.43)
Note
Interim 2030 value: 0.8301. UN DESA EGDI, 0–1.
27Government effectiveness (Worldwide Governance Indicators)No progress figure reported
0.21 (2017)
1.8 by 2040
Independent figure
World Bank — World Development Indicators, government effectiveness - governance estimate: 0.38 in 2025
Check
No year is reported by both. Same series.
Tracked as
Government effectiveness (Worldwide Governance Indicators)
As printed in the plan
Government Effectiveness: 0.21 (rank 81 of 209, 2017) to over 1.260 or top 30 (2030) and over 1.800 or top 10 (2040) (V19 p.43)
Note
Interim 2030 value: 1.26. World Bank Worldwide Governance Indicators estimate, −2.5 to 2.5.
28Rule of law (Worldwide Governance Indicators)No progress figure reported
0.43 (2017)
1.8 by 2040
Independent figure
World Bank — World Development Indicators, rule of law - governance estimate: 0.502 in 2025
Check
No year is reported by both. Same series.
Tracked as
Rule of law (Worldwide Governance Indicators)
As printed in the plan
Rule of Law: 0.43 (rank 72 of 209, 2017) to over 1.20 or top 30 (2030) and over 1.80 or top 10 (2040) (V19 p.43)
Note
Interim 2030 value: 1.2. World Bank Worldwide Governance Indicators estimate, −2.5 to 2.5.

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