ya Street, Al Khuwair area, Muscat
mailing address: P. O. Box 202, P.C. 115, Madinat Sultan Qaboos,
Muscat
telephone: [968] 24-698989
FAX: [968] 24-699771

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 near the top of the vertical band

Economy Oman

Economy - overview:
Oman is a middle-income economy in the Middle East with notable oil
and gas resources, a substantial trade surplus, and low inflation.
Sustained high oil prices in recent years have helped build Oman's
budget and trade surpluses and foreign reserves. Oman joined the
World Trade Organization in November 2000 and continues to
liberalize its markets. To reduce unemployment and limit dependence
on foreign labor, the government is encouraging the replacement of
foreign expatriate workers with local workers. Oman actively seeks
private foreign investors, especially in the industrial, information
technology, tourism, and higher education fields. Industrial
development plans focus on gas resources, metal manufacturing,
petrochemicals, and international transshipment ports.

GDP (purchasing power parity):
$43.88 billion (2006 est.)

GDP (official exchange rate):
$27.23 billion (2006 est.)

GDP - real growth rate:
6.5% (2006 est.)

GDP - per capita (PPP):
$14,100 (2006 est.)

GDP - composition by sector:
agriculture: 2.6%
industry: 38.8%
services: 58.7% (2006 est.)

Labor force:
920,000 (2002 est.)

Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%

Unemployment rate:
15% (2004 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
2% (2006 est.)

Investment (gross fixed):
14.2% of GDP (2006 est.)

Budget:
revenues: $14.33 billion
expenditures: $12.81 billion; including capital expenditures of $NA
(2006 est.)

Public debt:
4.5% of GDP (2006 est.)

Agriculture - products:
dates, limes, bananas, alfalfa, vegetables; camels, cattle; fish

Industries:
crude oil production and refining, natural and liquefied natural
gas (LNG) production; construction, cement, copper, steel,
chemicals, optic fiber