Net trade in goods and services in Oman
Oman: Net trade in goods and services was 18.53 billion BoP, current US$ in 2024. ◆ Volatile
Latest (2024)
18.53 billion BoP, current US$
Change on year
up 4.3%
World rank
25th
of 200 countries
All-time high
22.46 billion BoP, current US$
in 2022
All-time low
-1.20 billion BoP, current US$
in 1998
Years of data
51
1974–2024
Net trade in goods and services in Oman, 1974–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
The most recent figure for net trade in goods and services in Oman is 18.53 billion BoP, current US$, measured in 2024.
The figure is up 4.3% on the previous year and down 1.6% over ten years.
Over the whole period, net trade in goods and services in Oman peaked at 22.46 billion BoP, current US$ in 2022 and was at its lowest, -1.20 billion BoP, current US$, in 1998.
Oman ranks 25th of 200 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net trade in goods and services in Oman, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1974 | 557.03 million BoP, current US$ | — |
| 1975 | 353.50 million BoP, current US$ | -36.5% |
| 1976 | 418.94 million BoP, current US$ | +18.5% |
| 1977 | 389.69 million BoP, current US$ | -7.0% |
| 1978 | 255.65 million BoP, current US$ | -34.4% |
| 1979 | 767.23 million BoP, current US$ | +200.1% |
| 1980 | 1.46 billion BoP, current US$ | +90.2% |
| 1981 | 1.79 billion BoP, current US$ | +22.5% |
| 1982 | 1.15 billion BoP, current US$ | -35.6% |
| 1983 | 1.22 billion BoP, current US$ | +6.2% |
| 1984 | 1.12 billion BoP, current US$ | -8.1% |
| 1985 | 1.24 billion BoP, current US$ | +10.8% |
| 1986 | -123.04 million BoP, current US$ | -109.9% |
| 1987 | 1.57 billion BoP, current US$ | -1374.6% |
| 1988 | 725.62 million BoP, current US$ | -53.7% |
| 1989 | 1.33 billion BoP, current US$ | +83.4% |
| 1990 | 2.23 billion BoP, current US$ | +67.9% |
| 1991 | 859.82 million BoP, current US$ | -61.5% |
| 1992 | 1.01 billion BoP, current US$ | +17.4% |
| 1993 | 442.13 million BoP, current US$ | -56.2% |
| 1994 | 962.03 million BoP, current US$ | +117.6% |
| 1995 | 1.04 billion BoP, current US$ | +8.4% |
| 1996 | 2.05 billion BoP, current US$ | +96.7% |
| 1997 | 1.73 billion BoP, current US$ | -15.9% |
| 1998 | -1.20 billion BoP, current US$ | -169.3% |
| 1999 | 1.64 billion BoP, current US$ | -236.9% |
| 2000 | 5.42 billion BoP, current US$ | +230.8% |
| 2001 | 4.47 billion BoP, current US$ | -17.4% |
| 2002 | 4.26 billion BoP, current US$ | -4.7% |
| 2003 | 3.67 billion BoP, current US$ | -14.0% |
| 2004 | 3.09 billion BoP, current US$ | -15.7% |
| 2005 | 8.46 billion BoP, current US$ | +173.5% |
| 2006 | 9.12 billion BoP, current US$ | +7.8% |
| 2007 | 6.94 billion BoP, current US$ | -23.9% |
| 2008 | 12.96 billion BoP, current US$ | +86.8% |
| 2009 | 7.74 billion BoP, current US$ | -40.3% |
| 2010 | 14.17 billion BoP, current US$ | +83.1% |
| 2011 | 20.18 billion BoP, current US$ | +42.4% |
| 2012 | 20.41 billion BoP, current US$ | +1.1% |
| 2013 | 17.58 billion BoP, current US$ | -13.9% |
| 2014 | 18.83 billion BoP, current US$ | +7.1% |
| 2015 | 2.34 billion BoP, current US$ | -87.6% |
| 2016 | -124.40 million BoP, current US$ | -105.3% |
| 2017 | 1.89 billion BoP, current US$ | -1618.6% |
| 2018 | 10.72 billion BoP, current US$ | +467.5% |
| 2019 | 10.98 billion BoP, current US$ | +2.4% |
| 2020 | 1.86 billion BoP, current US$ | -83.0% |
| 2021 | 9.36 billion BoP, current US$ | +401.9% |
| 2022 | 22.46 billion BoP, current US$ | +140.0% |
| 2023 | 17.75 billion BoP, current US$ | -21.0% |
| 2024 | 18.53 billion BoP, current US$ | +4.3% |
Oman compared with similar countries
- Oman's 18.53 billion BoP, current US$ is above the median for high income countries, which is 2.86 billion BoP, current US$, 6.5× the median. (72 countries reporting)
- Oman's 18.53 billion BoP, current US$ is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is 340.95 million BoP, current US$, 54.3× the median. (22 countries reporting)
Biggest year-on-year movements
Years where Net trade in goods and services in Oman changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2017 | +1618.6% | -124.40 million BoP, current US$ | 1.89 billion BoP, current US$ |
| 1987 | +1374.6% | -123.04 million BoP, current US$ | 1.57 billion BoP, current US$ |
| 2018 | +467.5% | 1.89 billion BoP, current US$ | 10.72 billion BoP, current US$ |
| 2021 | +401.9% | 1.86 billion BoP, current US$ | 9.36 billion BoP, current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 457.01 million BoP, current US$ | 255.65 million BoP, current US$ | 767.23 million BoP, current US$ | 6 |
| 1980s | 1.15 billion BoP, current US$ | -123.04 million BoP, current US$ | 1.79 billion BoP, current US$ | 10 |
| 1990s | 1.08 billion BoP, current US$ | -1.20 billion BoP, current US$ | 2.23 billion BoP, current US$ | 10 |
| 2000s | 6.61 billion BoP, current US$ | 3.09 billion BoP, current US$ | 12.96 billion BoP, current US$ | 10 |
| 2010s | 11.70 billion BoP, current US$ | -124.40 million BoP, current US$ | 20.41 billion BoP, current US$ | 10 |
| 2020s | 13.99 billion BoP, current US$ | 1.86 billion BoP, current US$ | 22.46 billion BoP, current US$ | 5 |
Countries ranked near Oman
- 22 Saudi Arabia 22.16 billion BoP, current US$ compare
- 23 Macao 20.92 billion BoP, current US$ compare
- 24 Sweden 20.27 billion BoP, current US$ compare
- 26 Hong Kong 16.59 billion BoP, current US$ compare
- 27 Kuwait 16.28 billion BoP, current US$ compare
- 28 Chile 14.91 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$), annual growth rate 4.77 % change on previous year (2024)
Frequently asked questions
- What is net trade in goods and services in Oman?
- Net trade in goods and services in Oman was 18.53 billion BoP, current US$ in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net trade in goods and services recorded in Oman?
- The highest recorded value was 22.46 billion BoP, current US$ in 2022.
- What is the lowest net trade in goods and services recorded in Oman?
- The lowest recorded value was -1.20 billion BoP, current US$ in 1998.
- How does Oman rank for net trade in goods and services?
- Oman ranks 25th out of 200 countries with data for 2024.
- Is net trade in goods and services rising or falling in Oman?
- Over the last ten years it is down 1.6%. 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 Net trade in goods and services (BoP, current US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 51 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 indicator is expressed in United States dollars.