Current account balance in Oman
Oman: Current account balance was 2.9% 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 % of GDP.
Analysis
The most recent figure for current account balance in Oman is 2.9%, measured in 2024.
Compared with earlier readings it is up 25.0% on the previous year and down 38.1% over ten years.
Over the whole period, current account balance in Oman peaked at 17.0% in 1981 and was at its lowest, -19.7%, in 1998.
That places Oman 57th out of 199 countries with data for 2024, putting it in the middle of the range.
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 | % of GDP | Change |
|---|---|---|
| 1974 | 10.9% | — |
| 1975 | 2.7% | -74.9% |
| 1976 | 1.4% | -47.9% |
| 1977 | 10.1% | +608.6% |
| 1978 | -1.8% | -117.9% |
| 1979 | 14.7% | -913.4% |
| 1980 | 15.8% | +7.2% |
| 1981 | 17.0% | +8.1% |
| 1982 | 6.5% | -62.0% |
| 1983 | 6.2% | -3.6% |
| 1984 | 3.4% | -44.9% |
| 1985 | -0.1% | -103.0% |
| 1986 | -14.2% | +13918.5% |
| 1987 | 10.0% | -170.7% |
| 1988 | -3.7% | -136.8% |
| 1989 | 3.3% | -188.3% |
| 1990 | 8.3% | +155.1% |
| 1991 | -1.9% | -123.3% |
| 1992 | -4.2% | +117.4% |
| 1993 | -8.4% | +98.2% |
| 1994 | -5.5% | -34.6% |
| 1995 | -5.1% | -6.9% |
| 1996 | 1.4% | -127.4% |
| 1997 | -0.9% | -165.9% |
| 1998 | -19.7% | +2044.1% |
| 1999 | -2.6% | -86.9% |
| 2000 | 14.1% | -645.6% |
| 2001 | 9.4% | -33.3% |
| 2002 | 8.4% | -10.3% |
| 2003 | 5.9% | -30.2% |
| 2004 | 3.1% | -47.5% |
| 2005 | 14.6% | +372.1% |
| 2006 | 13.3% | -8.8% |
| 2007 | 5.1% | -61.7% |
| 2008 | 7.2% | +41.8% |
| 2009 | -0.8% | -110.8% |
| 2010 | 7.6% | -1068.7% |
| 2011 | 11.4% | +50.7% |
| 2012 | 9.0% | -21.4% |
| 2013 | 5.9% | -34.6% |
| 2014 | 4.6% | -21.3% |
| 2015 | -13.8% | -397.7% |
| 2016 | -16.6% | +20.5% |
| 2017 | -13.6% | -18.0% |
| 2018 | -4.9% | -64.4% |
| 2019 | -4.9% | +1.4% |
| 2020 | -16.5% | +236.5% |
| 2021 | -5.5% | -66.5% |
| 2022 | 3.7% | -165.9% |
| 2023 | 2.3% | -37.2% |
| 2024 | 2.9% | +25.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.3% | -1.8% | 14.7% | 6 |
| 1980s | 4.4% | -14.2% | 17.0% | 10 |
| 1990s | -3.9% | -19.7% | 8.3% | 10 |
| 2000s | 8.0% | -0.8% | 14.6% | 10 |
| 2010s | -1.5% | -16.6% | 11.4% | 10 |
| 2020s | -2.7% | -16.5% | 3.7% | 5 |
Countries ranked near Oman
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)
- Industry (including construction), value added (constant 2015 US$) 1.61 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.4306 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 8,589 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual 1.61 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 0.1876 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 3,743 constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 4.96 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.4721 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance in Oman?
- Current account balance in Oman was 2.9% 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 17.0% in 1981.
- What is the lowest current account balance recorded in Oman?
- The lowest recorded value was -19.7% in 1998.
- How does Oman rank for current account balance?
- Oman ranks 57th out of 199 countries with data for 2024.
- Is current account balance rising or falling in Oman?
- Over the last ten years it is down 38.1%. 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 (% of GDP). 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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.