External balance on goods and services in Oman
Oman: External balance on goods and services was 18.53 billion current US$ in 2024. ◆ Volatile
Latest (2024)
18.53 billion current US$
Change on year
up 4.3%
World rank
26th
of 193 countries
All-time high
22.80 billion current US$
in 2022
All-time low
-1.09 billion current US$
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 US$.
Analysis
Oman recorded 18.53 billion current US$ for external balance on goods and services in 2024.
The figure 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 22.80 billion current US$ in 2022 and was at its lowest, -1.09 billion current US$, in 1998.
Oman ranks 26th of 193 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Oman, year by year
| Year | current US$ | Change |
|---|---|---|
| 1967 | 12.15 million current US$ | — |
| 1968 | 104.64 million current US$ | +761.1% |
| 1969 | 150.48 million current US$ | +43.8% |
| 1970 | 138.48 million current US$ | -8.0% |
| 1971 | 101.30 million current US$ | -26.8% |
| 1972 | 57.33 million current US$ | -43.4% |
| 1973 | 61.02 million current US$ | +6.5% |
| 1974 | 427.33 million current US$ | +600.3% |
| 1975 | 353.50 million current US$ | -17.3% |
| 1976 | 418.93 million current US$ | +18.5% |
| 1977 | 390.85 million current US$ | -6.7% |
| 1978 | 262.88 million current US$ | -32.7% |
| 1979 | 759.70 million current US$ | +189.0% |
| 1980 | 1.50 billion current US$ | +96.9% |
| 1981 | 1.93 billion current US$ | +29.1% |
| 1982 | 1.16 billion current US$ | -39.8% |
| 1983 | 1.24 billion current US$ | +6.3% |
| 1984 | 1.12 billion current US$ | -9.4% |
| 1985 | 1.27 billion current US$ | +12.9% |
| 1986 | -123.04 million current US$ | -109.7% |
| 1987 | 1.55 billion current US$ | -1357.7% |
| 1988 | 725.62 million current US$ | -53.1% |
| 1990 | 2.88 billion current US$ | +297.1% |
| 1991 | 1.66 billion current US$ | -42.3% |
| 1992 | 1.95 billion current US$ | +17.4% |
| 1993 | 1.50 billion current US$ | -23.3% |
| 1994 | 1.88 billion current US$ | +25.7% |
| 1995 | 2.07 billion current US$ | +9.8% |
| 1996 | 3.14 billion current US$ | +52.0% |
| 1997 | 2.93 billion current US$ | -6.7% |
| 1998 | -1.09 billion current US$ | -137.4% |
| 1999 | 1.64 billion current US$ | -249.4% |
| 2000 | 5.42 billion current US$ | +231.3% |
| 2001 | 4.35 billion current US$ | -19.7% |
| 2002 | 4.27 billion current US$ | -1.9% |
| 2003 | 3.67 billion current US$ | -14.0% |
| 2004 | 3.10 billion current US$ | -15.6% |
| 2005 | 8.46 billion current US$ | +173.1% |
| 2006 | 9.12 billion current US$ | +7.8% |
| 2007 | 6.94 billion current US$ | -23.9% |
| 2008 | 12.97 billion current US$ | +87.0% |
| 2009 | 7.74 billion current US$ | -40.4% |
| 2010 | 14.17 billion current US$ | +83.2% |
| 2011 | 20.30 billion current US$ | +43.2% |
| 2012 | 20.43 billion current US$ | +0.6% |
| 2013 | 17.56 billion current US$ | -14.1% |
| 2014 | 19.10 billion current US$ | +8.8% |
| 2015 | 2.30 billion current US$ | -87.9% |
| 2016 | -169.05 million current US$ | -107.3% |
| 2017 | 2.01 billion current US$ | -1286.2% |
| 2018 | 10.95 billion current US$ | +446.0% |
| 2019 | 11.01 billion current US$ | +0.6% |
| 2020 | 1.70 billion current US$ | -84.6% |
| 2021 | 9.35 billion current US$ | +451.5% |
| 2022 | 22.80 billion current US$ | +143.8% |
| 2023 | 17.75 billion current US$ | -22.1% |
| 2024 | 18.53 billion current US$ | +4.3% |
Oman compared with similar countries
- Oman's 18.53 billion current US$ is above the median for high income countries, which is 3.43 billion current US$, 5.4× the median. (72 countries reporting)
- Oman's 18.53 billion current US$ is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -4.68 billion current US$. (23 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Oman changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1987 | +1357.7% | -123.04 million current US$ | 1.55 billion current US$ |
| 2017 | +1286.2% | -169.05 million current US$ | 2.01 billion current US$ |
| 1968 | +761.1% | 12.15 million current US$ | 104.64 million current US$ |
| 1974 | +600.3% | 61.02 million current US$ | 427.33 million current US$ |
| 2021 | +451.5% | 1.70 billion current US$ | 9.35 billion current US$ |
| 2018 | +446.0% | 2.01 billion current US$ | 10.95 billion current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 89.09 million current US$ | 12.15 million current US$ | 150.48 million current US$ | 3 |
| 1970s | 297.13 million current US$ | 57.33 million current US$ | 759.70 million current US$ | 10 |
| 1980s | 1.15 billion current US$ | -123.04 million current US$ | 1.93 billion current US$ | 9 |
| 1990s | 1.85 billion current US$ | -1.09 billion current US$ | 3.14 billion current US$ | 10 |
| 2000s | 6.60 billion current US$ | 3.10 billion current US$ | 12.97 billion current US$ | 10 |
| 2010s | 11.77 billion current US$ | -169.05 million current US$ | 20.43 billion current US$ | 10 |
| 2020s | 14.03 billion current US$ | 1.70 billion current US$ | 22.80 billion current US$ | 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$), annual growth rate 4.77 % change on previous year (2024)
Frequently asked questions
- What is external balance on goods and services in Oman?
- External balance on goods and services in Oman was 18.53 billion current US$ 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 22.80 billion current US$ in 2022.
- What is the lowest external balance on goods and services recorded in Oman?
- The lowest recorded value was -1.09 billion current US$ in 1998.
- How does Oman rank for external balance on goods and services?
- Oman ranks 26th 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 US$). Statizoid updates them automatically from the source API.
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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 indicator is expressed in United States dollars.