Industry in Oman

Oman Industry | Economic News & Forecasts

Oman - Industry

The economy has had a mixed few recent months. Oil prices through to early June have averaged above the USD 58 per barrel level that the government projected in its budget for 2019, while oil production increased slightly in January–April. Fiscal pressures should have consequently eased somewhat, although both Moody’s and S&P Global Ratings are still considering downgrading the sovereign credit ratings of cash-strapped Oman. Meanwhile, the non-hydrocarbon economy is seemingly strengthening, with total revenue recorded in the hotel industry rising by over 11% in annual terms in March; new tax exemptions effective 1 June for investors in the tourism sector could hurt the public purse, however.

Oman - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)3.1  0.2  5.4  3.2  -     

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Oman Industry Chart

Oman Industry
Note: Annual variation of industrial production in %.
Source: Central Bank of Oman.

Oman Facts

Exchange Rate0.390.06 %Jun 14
Stock Market0.10.0 %Jun 14

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