External balance on goods and services as a percent of GDP in Oman
Oman: External balance on goods and services as a percent of GDP was 17.3% in 2024. ◆ Volatile
Latest (2024)
17.3%
Change on year
up 3.4%
World rank
14th
of 191 countries
All-time high
62.7%
in 1969
All-time low
-6.8%
in 1998
Years of data
57
1967–2024
External balance on goods and services as a percent of GDP in Oman, 1967–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
In 2024, external balance on goods and services as a percent of gdp in Oman stood at 17.3%.
That represents a change of up 3.4% on the previous year and down 16.1% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Oman peaked at 62.7% in 1969 and was at its lowest, -6.8%, in 1998.
Oman ranks 14th of 191 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services as a percent of GDP in Oman, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1967 | 11.3% | — |
| 1968 | 55.4% | +388.5% |
| 1969 | 62.7% | +13.2% |
| 1970 | 54.0% | -13.8% |
| 1971 | 33.7% | -37.7% |
| 1972 | 15.6% | -53.6% |
| 1973 | 12.6% | -19.2% |
| 1974 | 26.0% | +105.5% |
| 1975 | 16.9% | -35.1% |
| 1976 | 16.4% | -2.9% |
| 1977 | 14.3% | -12.9% |
| 1978 | 9.6% | -32.7% |
| 1979 | 20.3% | +112.1% |
| 1980 | 25.0% | +22.9% |
| 1981 | 26.6% | +6.4% |
| 1982 | 15.4% | -42.1% |
| 1983 | 15.6% | +1.2% |
| 1984 | 12.7% | -18.5% |
| 1985 | 12.6% | -0.4% |
| 1986 | -1.7% | -113.3% |
| 1987 | 19.8% | -1279.3% |
| 1988 | 8.7% | -56.3% |
| 1990 | 21.6% | +150.2% |
| 1991 | 12.9% | -40.6% |
| 1992 | 13.8% | +6.9% |
| 1993 | 10.5% | -23.6% |
| 1994 | 12.8% | +21.6% |
| 1995 | 13.1% | +2.8% |
| 1996 | 18.0% | +37.3% |
| 1997 | 16.2% | -10.0% |
| 1998 | -6.8% | -142.0% |
| 1999 | 9.2% | -234.4% |
| 2000 | 24.3% | +165.4% |
| 2001 | 19.6% | -19.5% |
| 2002 | 18.5% | -5.6% |
| 2003 | 14.8% | -19.8% |
| 2004 | 10.9% | -26.4% |
| 2005 | 23.8% | +118.3% |
| 2006 | 21.4% | -10.1% |
| 2007 | 14.4% | -32.9% |
| 2008 | 18.6% | +29.4% |
| 2009 | 14.0% | -24.9% |
| 2010 | 21.8% | +56.3% |
| 2011 | 26.2% | +20.1% |
| 2012 | 23.4% | -10.8% |
| 2013 | 19.5% | -16.5% |
| 2014 | 20.6% | +5.5% |
| 2015 | 2.9% | -85.8% |
| 2016 | -0.2% | -107.7% |
| 2017 | 2.5% | -1202.1% |
| 2018 | 12.0% | +382.5% |
| 2019 | 12.5% | +4.5% |
| 2020 | 2.2% | -82.1% |
| 2021 | 10.7% | +379.4% |
| 2022 | 20.8% | +93.8% |
| 2023 | 16.7% | -19.4% |
| 2024 | 17.3% | +3.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 43.1% | 11.3% | 62.7% | 3 |
| 1970s | 21.9% | 9.6% | 54.0% | 10 |
| 1980s | 15.0% | -1.7% | 26.6% | 9 |
| 1990s | 12.1% | -6.8% | 21.6% | 10 |
| 2000s | 18.0% | 10.9% | 24.3% | 10 |
| 2010s | 14.1% | -0.2% | 26.2% | 10 |
| 2020s | 13.5% | 2.2% | 20.8% | 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)
- Households and NPISHs Final consumption expenditure (current LCU) 4.54 % change on previous year (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 0.1504 current LCU per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 3,052 current LCU per person (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 3.84 % change on previous year (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.3862 constant 2015 US$ per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 7,834 constant 2015 US$ per person (2024)
- Final consumption expenditure (current US$), annual growth rate 3.12 % change on previous year (2024)
- Final consumption expenditure (current US$), per unit of GDP 0.5786 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Oman?
- External balance on goods and services as a percent of gdp in Oman was 17.3% in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Oman?
- The highest recorded value was 62.7% in 1969.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Oman?
- The lowest recorded value was -6.8% in 1998.
- How does Oman rank for external balance on goods and services as a percent of gdp?
- Oman ranks 14th out of 191 countries with data for 2024.
- Is external balance on goods and services as a percent of gdp rising or falling in Oman?
- Over the last ten years it is down 16.1%. The long-run trend across the full record is volatile.
- Where does this Oman data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
Download this data
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.