Khuwair area, Muscat
mailing address: domestic: Unit 73000, Box 1, APO AE 09890-3000;
international: P. O. Box 202, Code No. 115, Medinat Qaboos, Muscat
telephone: [968] 698989 (Medinat Qaboos, switchboard)
FAX: [968] 699779

Flag description: three horizontal bands of white, red, and green of
equal width with a broad, vertical, red band on the hoist side; the
national emblem (a khanjar dagger in its sheath superimposed on two
crossed swords in scabbards) in white is centered at the top of the
vertical band

@Oman:Economy

Economy-overview: Economic performance is closely tied to the fortunes
of the oil industry. Petroleum accounts for 75% of export earnings and
government revenues and for roughly 40% of GDP. Oman has proved oil
reserves of 4 billion barrels, equivalent to about 20 years'
production at the current rate of extraction. Agriculture is carried
on at a subsistence level and the general population depends on
imported food. The year 1996 was marked by higher oil production and
prices. The government is encouraging private investment, both
domestic and foreign, as a prime force for further economic
development.

GDP: purchasing power parity-$17.2 billion (1997 est.)

GDP-real growth rate: 3.5% (1997 est.)

GDP-per capita: purchasing power parity-$8,000 (1997 est.)

GDP-composition by sector:
agriculture: 3%
industry: 43%
services: 54% (1995)

Inflation rate-consumer price index: 1% (1996 est.)

Labor force:
total: 780,500 (1997 est.)
by occupation: agriculture 37% (1993 est.)

Unemployment rate: NA%

Budget:
revenues: $5.2 billion
expenditures: $6 billion, including capital expenditures of $1.3
billion (1998 est.)

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

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

Electricity-capacity: 1.744 million kW (1995)

Electricity-production: 7.8 billion kWh (1995)

Electricity-consumption per capita: 3,670 kWh (1995)

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

Exports:
total value: $7.6 billion (f.o.b., 1997 est.)
commodities: petroleum 75%, reexports, fish, processed copper,
textiles
partners: Japan 29%, South Korea 17%, China 12%, Thailand 11%, US 7%
(1996)

Imports:
total value: $4.8 billion (f.o.b., 1997 est.)
commodities: machinery, transportation equipment, manufactured goods,
food, livestock