Financial Performance Overview
Overview of Sultanate of Oman
Oman
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Overview
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 - Oman continues to follow peace-making foreign policy with focus
on developing its economy
➤ Population of ~4.9mn - predominantly represented by Omani Nationals account for 65% of
the total population
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 4.1% in 2023 (IMF)
"Vision 2040" government led programme, aimed at creating wealth through economic
diversification and private sector partnership, building world-class infrastructure, and
preserving environment sustainability
"Medium Term Fiscal Plan (MTFP) 2020-24" MTFP has borrowed the four objectives from
Vision 2040 to articulate the MTFP. These objectives included economic diversification,
creating investment chain value, governance of state-owned entities and social well being.
Saudi
Arabia
UAE
Oman
Yemen
Key Figures
Key Indicators
Sovereign Ratings
(Moody's/S&P / Fitch)
Dec-22
Gross Domestic Product
Gross Domestic Product Per
Capita
Ba2/BB/BB
USD 108.9bn¹
USD 23,541¹
Inflation
Population
1. Source: 1. IMF World Economic Database 2. Trading Economics
2.06%
4.9 million
Real GDP Growth2
0.9%
-0.8%
-2.8%
2018
2019
2. Source: IMF Staff Report - November 2022
GDP Composition (June 2023)
35%
4.4%
4.1%
42%
2.0%
2020
2021
2022E
2023F
■ Petroluem Activities
■Construction
■ Wholesale & Retail Trade
■ Public Adminstration &
Defence
6%
8%
9%
■ Other Activites
3. Source: National Centre For Statistics & Information (NCSI)
5
بنك ظفار
BankDhofar
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