Economic Indicators of Oman
Topic: analysis of economic indicators of oman
INTRODUCTION
Oman, officially called the Sultanate of Oman is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates (UAE) to the northwest, Saudi Arabia to the west and Yemen to the southwest. The coast is formed by the Arabian Sea on the southeast and the Gulf of Oman on the northeast. Oman is an absolute monarchy in which the Sultan of Oman, named Sultan Saeed bin Qaboos, exercises ultimate authority but its parliament has some legislative and oversight powers. In November 2010, the United Nations Development Programme (UNDP) listed Oman, from among 135 countries worldwide, as the nation most-improved during the preceding 40 years. According to international indices, it is one of the most developed and stable countries in the Arab. Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves and a rapidly growing labor force, Muscat, the capital of Oman has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020 and creating more jobs to employ the rising numbers of Omanis entering the workforce. Tourism and gas-based industries are key components of the government's diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify, and the increase in global oil prices through 2011 provided the government greater financial resources to invest in non-oil sectors.
| 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | Unemployment | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | Inflation | - 1.2 | -0.8 | -0.3 | 0.2 | 0.8 | 1.9 | 3.2 | 6.0 | 12.1 | 3.9 | 3.2 | 4.1 | -- | GDP growth annual (%) | -- | -- |
INTRODUCTION
Oman, officially called the Sultanate of Oman is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates (UAE) to the northwest, Saudi Arabia to the west and Yemen to the southwest. The coast is formed by the Arabian Sea on the southeast and the Gulf of Oman on the northeast. Oman is an absolute monarchy in which the Sultan of Oman, named Sultan Saeed bin Qaboos, exercises ultimate authority but its parliament has some legislative and oversight powers. In November 2010, the United Nations Development Programme (UNDP) listed Oman, from among 135 countries worldwide, as the nation most-improved during the preceding 40 years. According to international indices, it is one of the most developed and stable countries in the Arab. Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves and a rapidly growing labor force, Muscat, the capital of Oman has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020 and creating more jobs to employ the rising numbers of Omanis entering the workforce. Tourism and gas-based industries are key components of the government's diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify, and the increase in global oil prices through 2011 provided the government greater financial resources to invest in non-oil sectors.
| 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | Unemployment | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | Inflation | - 1.2 | -0.8 | -0.3 | 0.2 | 0.8 | 1.9 | 3.2 | 6.0 | 12.1 | 3.9 | 3.2 | 4.1 | -- | GDP growth annual (%) | -- | -- |