Oman: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Oman |
Trade balance as percent of GDP |
|---|---|
| Latest value | 11.14 |
| Year | 2021 |
| Measure | percent |
| Data availability | 1967 - 2021 |
| Average | 17.25 |
| Min - Max | -7.82 - 62.70 |
| Source | The World Bank |
The latest value from 2021 is 11.14 percent, an increase from 2.24 percent in 2020. In comparison, the world average is -5.16 percent, based on data from 168 countries. Historically, the average for Oman from 1967 to 2021 is 17.25 percent. The minimum value, -7.82 percent, was reached in 1998 while the maximum of 62.7 percent was recorded in 1969.
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* indicates monthly or quarterly data series
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The trade balance for Oman and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 96.91 | 2021 | percent |
| Trade openness | 93.92 | 2021 | percent |
| Financial openness | 2.046 | 2021 | index points |
| Exports, percent of GDP | 52.53 | 2021 | percent |
| Exports, billion dollars | 46.32 | 2021 | billion U.S. dollars |
| Growth of exports | 14.19 | 2021 | percent |
| Imports, percent of GDP | 41.39 | 2021 | percent |
| Imports, billion dollars | 36.50 | 2021 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 4.39 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 5.48 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | 287.91 | 2022 | million dollars (current) |
| Current account, percent of GDP | 5.02 | 2022 | percent |
| Current account, in dollars | 5.65 | 2022 | billion U.S. dollars |
| Trade balance, percent of GDP | 11.14 | 2021 | percent |
| Trade balance, in dollars | 23.38 | 2022 | billion U.S. dollars |
| Reserves | 17.45 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.04 | 2023 | percent |
| Remittances | 39.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -502.92 | 2022 | million USD |
| Foreign exchange reserves | 7.49 | 9/2024 | billion |