Bank Dhofar Business Performance Update
Overview of Sultanate of Oman
بنك ظفار
Bank Dhofar
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Overview
Oman 2nd largest country in the GCC with an area covering approximately
309,500 km². Strategically placed on the Arabian Gulf, Oman is divided into 11 main
governorates and shares borders with Saudi Arabia and UAE.
Stable Political System - smooth transition of power to His Majesty Haitham bin Tariq
Al Said in January 2020. In his opening speech, His Majesty promised to uphold his
predecessor's peace-making foreign policy and to further develop Oman's economy
Population of 4.5mn - predominantly represented by Omani Nationals who account
for 61% of the total population
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Resilient and Solid Economy – focus on long-term planning with the implementation
of a five-year economic development strategy plan.
Real GDP growth is projected to reach 5.6% in 2022 (IMF)
"Vision 2040"
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government led programme, aimed at creating wealth through
economic diversification and private sector partnership, building world-class
infrastructure, and preserving environment sustainability
Real GDP Growth²
Saudi
Arabia
UAE
Key Figures
Key Indicators
Dec-21
Sovereign Ratings
Ba3/B+/BB
(Moody's/S&P / Fitch)
Gross Domestic Product
USD 85.87bn¹
Gross Domestic Product Per Capita
USD 15,7431
Inflation
Oman
Population
Yemen
1. Source: 1. IMF World Economic Database 2. Trading Economics
GDP Composition (March 2022)³
1.50%
4.5 million
7.0%
6.0%
5.0%
4.0%
3.000
2.000
0.9%
1.00G
0.000
-1.0%
-2.0%
-3.0%
-4.0%
2018
-0.8%
2.0%
5.6%
-2.8%
2019
2020
2021
2022F
2. Source: IMF World Economic Database
■ Petroluem Activities
■ Construction
36%
41%
■ Wholesale & Retail Trade
Public Adminstration & Defence
6%
■ Other Activites
8%
9%
3. Source: National Centre For Statistics & Information (NCSI)
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