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    Oman Economy 1998
    http://www.greekorthodoxchurch.org/wfb1998/oman/oman_economy.html
    SOURCE: 1998 CIA WORLD FACTBOOK

      Economy - overview Economic performance is closely tied to the fortunes of the oil industry. Petroleum accounts for 75% of export earnings and government revenues and for roughly 40% of GDP. Oman has proved oil reserves of 4 billion barrels, equivalent to about 20 years' production at the current rate of extraction. Agriculture is carried on at a subsistence level and the general population depends on imported food. The year 1996 was marked by higher oil production and prices. The government is encouraging private investment, both domestic and foreign, as a prime force for further economic development.

      GDP purchasing power parity - $17.2 billion (1997 est.)

      GDP - real growth rate 3.5% (1997 est.)

      GDP - per capita purchasing power parity - $8,000 (1997 est.)

      GDP - composition by sector
      agriculture: 3%
      industry: 43%
      services: 54% (1995)

      Inflation rate - consumer price index 1% (1996 est.)

      Labor force
      total: 780,500 (1997 est.)
      by occupation: agriculture 37% (1993 est.)

      Unemployment rate NA%

      Budget
      revenues: $5.2 billion
      expenditures: $6 billion, including capital expenditures of $1.3 billion (1998 est.)

      Industries crude oil production and refining, natural gas production, construction, cement, copper

      Industrial production growth rate 3% (1994 est.)

      Electricity - capacity 1.744 million kW (1995)

      Electricity - production 7.8 billion kWh (1995)

      Electricity - consumption per capita 3,670 kWh (1995)

      Agriculture - products dates, limes, bananas, alfalfa, vegetables; camels, cattle; annual fish catch averages 100,000 metric tons

      Exports
      total value: $7.6 billion (f.o.b., 1997 est.)
      commodities: petroleum 75%, reexports, fish, processed copper, textiles
      partners: Japan 29%, South Korea 17%, China 12%, Thailand 11%, US 7% (1996)

      Imports
      total value: $4.8 billion (f.o.b., 1997 est.)
      commodities: machinery, transportation equipment, manufactured goods, food, livestock, lubricants
      partners: UAE 22% (largely reexports), Japan 15%, UK 15%, France 6%, US 5% (1996)

      Debt - external $3 billion (1997 est.)

      Economic aid
      recipient: ODA, $82 million (1993)

      Currency 1 Omani rial (RO) = 1,000 baiza

      Exchange rates Omani rials (RO) per US$1 - 0.3845 (fixed rate since 1986)

      Fiscal year calendar year

      NOTE: The information regarding Oman on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Oman Economy 1998 information contained here. All suggestions for corrections of any errors about Oman Economy 1998 should be addressed to the CIA.

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    http://www.greekorthodoxchurch.org/wfb1998/oman/oman_economy.html

    Revised 21-Dec-01
    Copyright © 2001 Photius Coutsoukis (all rights reserved)


    ctr12/21/01