External balance on goods and services in Oman
Oman: External balance on goods and services was 7.12 billion current LCU in 2024. ◆ Volatile
Latest (2024)
7.12 billion current LCU
Change on year
up 4.3%
World rank
55th
of 193 countries
All-time high
8.77 billion current LCU
in 2022
All-time low
-421.00 million current LCU
in 1998
Years of data
57
1967–2024
External balance on goods and services in Oman, 1967–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
In 2024, external balance on goods and services in Oman stood at 7.12 billion current LCU.
Compared with earlier readings it is up 4.3% on the previous year and down 3.0% over ten years.
Over the whole period, external balance on goods and services in Oman peaked at 8.77 billion current LCU in 2022 and was at its lowest, -421.00 million current LCU, in 1998.
Oman ranks 55th of 193 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Oman, year by year
| Year | current LCU | Change |
|---|---|---|
| 1967 | 4.40 million current LCU | — |
| 1968 | 43.60 million current LCU | +890.9% |
| 1969 | 62.70 million current LCU | +43.8% |
| 1970 | 57.70 million current LCU | -8.0% |
| 1971 | 42.10 million current LCU | -27.0% |
| 1972 | 22.00 million current LCU | -47.7% |
| 1973 | 21.40 million current LCU | -2.7% |
| 1974 | 147.60 million current LCU | +589.7% |
| 1975 | 122.10 million current LCU | -17.3% |
| 1976 | 144.70 million current LCU | +18.5% |
| 1977 | 135.00 million current LCU | -6.7% |
| 1978 | 90.80 million current LCU | -32.7% |
| 1979 | 262.40 million current LCU | +189.0% |
| 1980 | 516.60 million current LCU | +96.9% |
| 1981 | 666.90 million current LCU | +29.1% |
| 1982 | 401.70 million current LCU | -39.8% |
| 1983 | 427.00 million current LCU | +6.3% |
| 1984 | 387.00 million current LCU | -9.4% |
| 1985 | 437.00 million current LCU | +12.9% |
| 1986 | -47.00 million current LCU | -110.8% |
| 1987 | 595.00 million current LCU | -1366.0% |
| 1988 | 279.00 million current LCU | -53.1% |
| 1990 | 1.11 billion current LCU | +297.1% |
| 1991 | 639.00 million current LCU | -42.3% |
| 1992 | 750.00 million current LCU | +17.4% |
| 1993 | 575.00 million current LCU | -23.3% |
| 1994 | 723.00 million current LCU | +25.7% |
| 1995 | 794.00 million current LCU | +9.8% |
| 1996 | 1.21 billion current LCU | +52.0% |
| 1997 | 1.13 billion current LCU | -6.7% |
| 1998 | -421.00 million current LCU | -137.4% |
| 1999 | 629.00 million current LCU | -249.4% |
| 2000 | 2.08 billion current LCU | +231.3% |
| 2001 | 1.67 billion current LCU | -19.7% |
| 2002 | 1.64 billion current LCU | -1.9% |
| 2003 | 1.41 billion current LCU | -14.0% |
| 2004 | 1.19 billion current LCU | -15.6% |
| 2005 | 3.25 billion current LCU | +173.1% |
| 2006 | 3.51 billion current LCU | +7.8% |
| 2007 | 2.67 billion current LCU | -23.9% |
| 2008 | 4.99 billion current LCU | +87.0% |
| 2009 | 2.98 billion current LCU | -40.4% |
| 2010 | 5.45 billion current LCU | +83.2% |
| 2011 | 7.80 billion current LCU | +43.2% |
| 2012 | 7.85 billion current LCU | +0.6% |
| 2013 | 6.75 billion current LCU | -14.1% |
| 2014 | 7.34 billion current LCU | +8.8% |
| 2015 | 886.00 million current LCU | -87.9% |
| 2016 | -65.00 million current LCU | -107.3% |
| 2017 | 771.00 million current LCU | -1286.2% |
| 2018 | 4.21 billion current LCU | +446.0% |
| 2019 | 4.24 billion current LCU | +0.6% |
| 2020 | 652.00 million current LCU | -84.6% |
| 2021 | 3.60 billion current LCU | +451.5% |
| 2022 | 8.77 billion current LCU | +143.8% |
| 2023 | 6.83 billion current LCU | -22.1% |
| 2024 | 7.12 billion current LCU | +4.3% |
Oman compared with similar countries
- Oman's 7.12 billion current LCU is above the median for high income countries, which is 3.18 billion current LCU, 2.2× the median. (72 countries reporting)
- Oman's 7.12 billion current LCU is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -4.55 billion current LCU. (23 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services 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 |
|---|---|---|---|
| 1987 | +1366.0% | -47.00 million current LCU | 595.00 million current LCU |
| 2017 | +1286.2% | -65.00 million current LCU | 771.00 million current LCU |
| 1968 | +890.9% | 4.40 million current LCU | 43.60 million current LCU |
| 1974 | +589.7% | 21.40 million current LCU | 147.60 million current LCU |
| 2021 | +451.5% | 652.00 million current LCU | 3.60 billion current LCU |
| 2018 | +446.0% | 771.00 million current LCU | 4.21 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 36.90 million current LCU | 4.40 million current LCU | 62.70 million current LCU | 3 |
| 1970s | 104.58 million current LCU | 21.40 million current LCU | 262.40 million current LCU | 10 |
| 1980s | 407.02 million current LCU | -47.00 million current LCU | 666.90 million current LCU | 9 |
| 1990s | 713.00 million current LCU | -421.00 million current LCU | 1.21 billion current LCU | 10 |
| 2000s | 2.54 billion current LCU | 1.19 billion current LCU | 4.99 billion current LCU | 10 |
| 2010s | 4.52 billion current LCU | -65.00 million current LCU | 7.85 billion current LCU | 10 |
| 2020s | 5.39 billion current LCU | 652.00 million current LCU | 8.77 billion current LCU | 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)
- 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 external balance on goods and services in Oman?
- External balance on goods and services in Oman was 7.12 billion current LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Oman?
- The highest recorded value was 8.77 billion current LCU in 2022.
- What is the lowest external balance on goods and services recorded in Oman?
- The lowest recorded value was -421.00 million current LCU in 1998.
- How does Oman rank for external balance on goods and services?
- Oman ranks 55th out of 193 countries with data for 2024.
- Is external balance on goods and services rising or falling in Oman?
- Over the last ten years it is down 3.0%. The long-run trend across the full record is volatile.
- Where does this Oman data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 57 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.