Oman GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Oman's GDP changed from approximately $7B 269M in 1980 to $108B 927M in 2024, showing an overall 1398.5% sharply increased during the period.
The lowest GDP was recorded in 1980 at $7B 269M, and the highest in 2022 at $114B 667M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.3%.
For comparison, the average annual growth rate of Saudi Arabia was 4.4%, and that of United Arab Emirates was 5.9%.

Overview of Oman's GDP (1980–2024)

The Gross Domestic Product (GDP) of Oman recorded a 1398.5% sharply increased from 1980 to 2024.
The average GDP during this period was $43B 300M, and the median was $23B 66M.
GDP fluctuated within a range of $107B 398M, with a standard deviation of $35B 304M.
The average annual change was $2B 503M.


Oman GDP from 1980 to 2024

The total market value of goods and services produced annually in Oman.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1980, $7B 269M
    • Highest GDP: 2022, $114B 667M
    • Most Recent GDP: 2024, $108B 927M

    Notable Annual GDP Changes

    • 2022: Significant increase in GDP
    • 2009: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Oman's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $88B 61M → $75B 909M
    • Outcome: sharply declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $48B 300M → $55B 454M
    • Outcome: sharply increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $22B 259M → $22B 206M
    • Outcome: remained stable

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $18B 154M → $16B 44M
    • Outcome: sharply declined

    Key Economic Indicators of Oman (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 7B 269M
    $ 5,357.78
    $ 9,938.78
    $ 13B 485M
    6.079 %
    15.352 %
    26.65 %
    0 %
    1M 357K people
    1981
    $ 8B 849M
    $ 6,019.90
    $ 11,759.13
    $ 17B 284M
    17.096 %
    15.562 %
    29.49 %
    0 %
    1M 470K people
    1982
    $ 9B 285M
    $ 6,317.03
    $ 13,921.73
    $ 20B 463M
    11.501 %
    5.417 %
    21.51 %
    0 %
    1M 470K people
    1983
    $ 9B 733M
    $ 6,148.45
    $ 15,575.83
    $ 24B 656M
    15.947 %
    5.199 %
    24.83 %
    0 %
    1M 583K people
    1984
    $ 10B 726M
    $ 6,324.40
    $ 17,156.37
    $ 29B 97M
    13.904 %
    2.974 %
    22.72 %
    0 %
    1M 696K people
    1985
    $ 11B 916M
    $ 7,025.70
    $ 20,269.38
    $ 34B 377M
    14.523 %
    0.05 %
    22.82 %
    0 %
    1M 696K people
    1986
    $ 9B 433M
    $ 5,214.19
    $ 19,800.85
    $ 35B 821M
    2.145 %
    -10.887 %
    12.12 %
    0 %
    1M 809K people
    1987
    $ 9B 890M
    $ 5,145.49
    $ 18,335.48
    $ 35B 243M
    -3.992 %
    7.988 %
    22.21 %
    0 %
    1M 922K people
    1988
    $ 9B 613M
    $ 5,001.10
    $ 19,977.73
    $ 38B 400M
    5.245 %
    -3.194 %
    9.62 %
    0 %
    1M 922K people
    1989
    $ 10B 743M
    $ 5,278.57
    $ 20,192.72
    $ 41B 96M
    2.983 %
    3.251 %
    15.38 %
    0 %
    2M 35K people
    1990
    $ 13B 395M
    $ 7,267.92
    $ 25,071.25
    $ 46B 206M
    8.378 %
    8.206 %
    23.11 %
    4.357 %
    1M 843K people
    1991
    $ 13B
    $ 6,806.24
    $ 26,520.63
    $ 50B 656M
    6.044 %
    -1.513 %
    14.61 %
    -0.836 %
    1M 910K people
    1992
    $ 14B 274M
    $ 7,213.06
    $ 28,405.49
    $ 56B 210M
    8.492 %
    -3.908 %
    13.70 %
    -5.036 %
    1M 979K people
    1993
    $ 14B 321M
    $ 6,995.28
    $ 29,834.39
    $ 61B 78M
    6.144 %
    -9.615 %
    9.91 %
    -7.187 %
    2M 47K people
    1994
    $ 14B 808M
    $ 7,010.60
    $ 30,669.30
    $ 64B 781M
    3.845 %
    -5.082 %
    11.73 %
    -7.541 %
    2M 112K people
    1995
    $ 15B 821M
    $ 7,284.85
    $ 31,924.61
    $ 69B 335M
    4.831 %
    -5.17 %
    10.93 %
    -3.543 %
    2M 172K people
    1996
    $ 17B 512M
    $ 7,869.08
    $ 32,643.11
    $ 72B 644M
    2.889 %
    1.174 %
    16.74 %
    2.552 %
    2M 225K people
    1997
    $ 18B 154M
    $ 7,983.97
    $ 34,506.78
    $ 78B 461M
    6.178 %
    -1.076 %
    18 %
    5.098 %
    2M 274K people
    1998
    $ 16B 44M
    $ 6,920.86
    $ 35,151.32
    $ 81B 489M
    2.704 %
    -19.45 %
    18.50 %
    -4.322 %
    2M 318K people
    1999
    $ 17B 833M
    $ 7,554.52
    $ 35,114.25
    $ 82B 888M
    0.298 %
    -2.583 %
    25.06 %
    0.8 %
    2M 361K people