top of the vertical band

Economy
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Economic overview: Economic performance is closely tied to the
fortunes of the oil industry. Petroleum accounts for nearly 90% of
export earnings, about 75% of government revenues, and roughly 40%
of GDP. Oman has proved oil reserves of 4 billion barrels,
equivalent to about 20 years' supply at the current rate of
extraction. Agriculture is carried on at a subsistence level and the
general population depends on imported food. The government is
encouraging private investment, both domestic and foreign, as a
prime force for further economic development.

GDP: purchasing power parity - $19.1 billion (1995 est.)

GDP real growth rate: 3.5% (1995 est.)

GDP per capita: $10,800 (1995 est.)

GDP composition by sector:
agriculture: 3%
industry: 60%
services: 37%

Inflation rate (consumer prices): -0.7% (1994 est.)

Labor force: 454,000
by occupation: agriculture 37% (1993 est.)

Unemployment rate: NA%

Budget:
revenues: $4.7 billion
expenditures: $5.6 billion, including capital expenditures of $NA
(1995 est.)

Industries: crude oil production and refining, natural gas
production, construction, cement, copper

Industrial production growth rate: 3% (1994 est.)

Electricity:
capacity: 1,540,000 kW
production: 6 billion kWh
consumption per capita: 3,407 kWh (1993)

Agriculture: dates, limes, bananas, alfalfa, vegetables; camels,
cattle; annual fish catch averages 100,000 metric tons

Exports: $4.8 billion (f.o.b., 1994 est.)
commodities: petroleum 87%, reexports, fish, processed copper,
textiles
partners: Japan 35%, South Korea 15.8%, US 9%, China 8%, Thailand 5%
(1994)

Imports: $4 billion (c.i.f., 1994 est.)
commodities: machinery, transportation equipment, manufactured
goods, food, livestock, lubricants
partners: UAE 27% (largely reexports), Japan 20%, UK 15%, US 5%,
Germany 4% (1993)

External debt: $3 billion (1993)

Economic aid:
recipient: ODA, $82 million (1993)

Currency: 1 Omani rial (RO) = 1,000 baiza

Exchange rates: Omani rials (RO) per US$1 - 0.3845 (fixed rate
since 1986)

Fiscal year: calendar year

Transportation
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Railways: 0 km

Highways:
total: 25,948 km
paved: 4,930 km (including 413 km of expressways)
unpaved: 21,018 km (1992 est.)

Pipelines: crude oil 1,300 km; natural gas 1,030 km

Ports: Matrah, Mina' al Fahl, Mina' Raysut