Current account balance in Oman
Oman: Current account balance was 3.07 billion BoP, current US$ in 2024. ◆ Volatile
Current account balance in Oman, 1974–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
In 2024, current account balance in Oman stood at 3.07 billion BoP, current US$.
The figure is up 26.1% on the previous year and down 28.5% over ten years.
Over the whole period, current account balance in Oman peaked at 8.87 billion BoP, current US$ in 2011 and was at its lowest, -12.56 billion BoP, current US$, in 2020.
That places Oman 37th out of 200 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Oman, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1974 | 179.21 million BoP, current US$ | — |
| 1975 | 57.32 million BoP, current US$ | -68.0% |
| 1976 | 36.48 million BoP, current US$ | -36.4% |
| 1977 | 276.78 million BoP, current US$ | +658.7% |
| 1978 | -49.51 million BoP, current US$ | -117.9% |
| 1979 | 548.64 million BoP, current US$ | -1208.2% |
| 1980 | 942.39 million BoP, current US$ | +71.8% |
| 1981 | 1.24 billion BoP, current US$ | +31.2% |
| 1982 | 488.71 million BoP, current US$ | -60.5% |
| 1983 | 494.50 million BoP, current US$ | +1.2% |
| 1984 | 302.84 million BoP, current US$ | -38.8% |
| 1985 | -10.13 million BoP, current US$ | -103.3% |
| 1986 | -1.04 billion BoP, current US$ | +10161.6% |
| 1987 | 784.39 million BoP, current US$ | -175.4% |
| 1988 | -309.49 million BoP, current US$ | -139.5% |
| 1989 | 305.33 million BoP, current US$ | -198.7% |
| 1990 | 1.11 billion BoP, current US$ | +262.3% |
| 1991 | -250.72 million BoP, current US$ | -122.7% |
| 1992 | -598.44 million BoP, current US$ | +138.7% |
| 1993 | -1.19 billion BoP, current US$ | +98.9% |
| 1994 | -804.94 million BoP, current US$ | -32.4% |
| 1995 | -800.52 million BoP, current US$ | -0.5% |
| 1996 | 242.70 million BoP, current US$ | -130.3% |
| 1997 | -165.90 million BoP, current US$ | -168.4% |
| 1998 | -3.16 billion BoP, current US$ | +1806.9% |
| 1999 | -459.50 million BoP, current US$ | -85.5% |
| 2000 | 3.13 billion BoP, current US$ | -781.0% |
| 2001 | 2.08 billion BoP, current US$ | -33.5% |
| 2002 | 1.94 billion BoP, current US$ | -6.8% |
| 2003 | 1.45 billion BoP, current US$ | -25.1% |
| 2004 | 876.57 million BoP, current US$ | -39.7% |
| 2005 | 5.18 billion BoP, current US$ | +490.7% |
| 2006 | 5.66 billion BoP, current US$ | +9.4% |
| 2007 | 2.46 billion BoP, current US$ | -56.5% |
| 2008 | 5.05 billion BoP, current US$ | +105.0% |
| 2009 | -434.79 million BoP, current US$ | -108.6% |
| 2010 | 4.94 billion BoP, current US$ | -1235.3% |
| 2011 | 8.87 billion BoP, current US$ | +79.7% |
| 2012 | 7.86 billion BoP, current US$ | -11.4% |
| 2013 | 5.29 billion BoP, current US$ | -32.7% |
| 2014 | 4.29 billion BoP, current US$ | -18.8% |
| 2015 | -10.85 billion BoP, current US$ | -352.7% |
| 2016 | -12.48 billion BoP, current US$ | +15.0% |
| 2017 | -11.01 billion BoP, current US$ | -11.8% |
| 2018 | -4.44 billion BoP, current US$ | -59.7% |
| 2019 | -4.33 billion BoP, current US$ | -2.4% |
| 2020 | -12.56 billion BoP, current US$ | +190.0% |
| 2021 | -4.84 billion BoP, current US$ | -61.5% |
| 2022 | 4.01 billion BoP, current US$ | -182.9% |
| 2023 | 2.43 billion BoP, current US$ | -39.3% |
| 2024 | 3.07 billion BoP, current US$ | +26.1% |
Oman compared with similar countries
- Oman's 3.07 billion BoP, current US$ is above the median for high income countries, which is 303.23 million BoP, current US$, 10.1× the median. (72 countries reporting)
- Oman's 3.07 billion BoP, current US$ is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -407.69 million BoP, current US$. (22 countries reporting)
Biggest year-on-year movements
Years where Current account balance in Oman changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1986 | -10161.6% | -10.13 million BoP, current US$ | -1.04 billion BoP, current US$ |
| 1998 | -1806.9% | -165.90 million BoP, current US$ | -3.16 billion BoP, current US$ |
| 2010 | +1235.3% | -434.79 million BoP, current US$ | 4.94 billion BoP, current US$ |
| 1979 | +1208.2% | -49.51 million BoP, current US$ | 548.64 million BoP, current US$ |
| 2000 | +781.0% | -459.50 million BoP, current US$ | 3.13 billion BoP, current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 174.82 million BoP, current US$ | -49.51 million BoP, current US$ | 548.64 million BoP, current US$ | 6 |
| 1980s | 319.52 million BoP, current US$ | -1.04 billion BoP, current US$ | 1.24 billion BoP, current US$ | 10 |
| 1990s | -608.47 million BoP, current US$ | -3.16 billion BoP, current US$ | 1.11 billion BoP, current US$ | 10 |
| 2000s | 2.74 billion BoP, current US$ | -434.79 million BoP, current US$ | 5.66 billion BoP, current US$ | 10 |
| 2010s | -1.19 billion BoP, current US$ | -12.48 billion BoP, current US$ | 8.87 billion BoP, current US$ | 10 |
| 2020s | -1.58 billion BoP, current US$ | -12.56 billion BoP, current US$ | 4.01 billion BoP, current US$ | 5 |
Countries ranked near Oman
- 34 Hungary 4.08 billion BoP, current US$ compare
- 35 Azerbaijan 3.48 billion BoP, current US$ compare
- 36 Guatemala 3.27 billion BoP, current US$ compare
- 38 Tajikistan 3.02 billion BoP, current US$ compare
- 39 Slovenia 2.83 billion BoP, current US$ compare
- 40 Brunei 2.71 billion BoP, current US$ compare
More economy & growth data for Oman
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.93 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.18 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -142.78 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0013 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita -27.03 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 12.47 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -0.6369 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.1164 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 2,360 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 4.77 % change on previous year (2024)
Frequently asked questions
- What is current account balance in Oman?
- Current account balance in Oman was 3.07 billion BoP, current US$ in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Oman?
- The highest recorded value was 8.87 billion BoP, current US$ in 2011.
- What is the lowest current account balance recorded in Oman?
- The lowest recorded value was -12.56 billion BoP, current US$ in 2020.
- How does Oman rank for current account balance?
- Oman ranks 37th out of 200 countries with data for 2024.
- Is current account balance rising or falling in Oman?
- Over the last ten years it is down 28.5%. The long-run trend across the full record is volatile.
- Where does this Oman data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.