International Trade in Oman

International Trade in Oman

Since 2004, the Sultanate showed extraordinarily strong growth, mainly due to the exploitation of its oil reserves. Recorded at 6.1% in 2010 and estimated at 4.5% in 2011, the country's growth is strongly correlated to the change in oil prices, which explains its volatility durting the... Read more

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Market Analyses About Oman (30)

Import and Export Services in Oman (103)

  • Falconvision Consulting

    Falconvision Consulting

    Market Research, Oman

    We provide Market Research and Business Research services to clients globally for the Middle East & Africa Markets. Our expertise...
  • ABINA Optimal Solar Collectors Co. Ltd.
    Optimal FTS started  operation as an engineering and consulting firm in 1996. Up to the current day we have performed services to...

Business Tips About Oman (12)

Agents and Distributors in Oman (6)

  • Al Bahja Constructions Engineering Trading Co.LLC
    AB Construction, Engineering & Trading Co. LLC. Established and working from last two decades in Sultanate of Oman in Oil & Gas,...
  • AW SUNNY STEEL

    AW SUNNY STEEL

    Metal Sales and Distribution, Oman

    sunnyofsteel at g m a i l c o m Excellent in nickel monel inconel incoloy hastelloy duplex stainless steel pipe tube flange flanges...

Overview About International Trade in Oman

Economic Overview

Since 2004, the Sultanate showed extraordinarily strong growth, mainly due to the exploitation of its oil reserves. Recorded at 6.1% in 2010 and estimated at 4.5% in 2011, the country's growth is strongly correlated to the change in oil prices, which explains its volatility durting the last few years.

Oil is the main source of revenue for Oman, accounting for more than 76% of its export revenues. However, oil resources are not without limit and the Sultanate even has the lowest reserves in the region, which are estimated to last for only another 45 years. The State is therefore in the process of liberalizing and diversifying its economy, in order to reduce its excessive dependence on the oil sector. The "2020 Vision Plan" aims to build on key investment in the tourism serveices, financial and port activities. The stat is also trying to reduce its stake in a number of companies, promoting privatisations and opening the economy to foreign capital, at least to some extent. The manufacturing sector currently represents 55% of the GDP. The services sector is booming , namely in the fields of distribution, transport and communication. 

The Sultanate enjoys a relatively h...

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