Oman
A country on the Arabian Peninsula, Oman consists of desert, riverbed oases and long coastlines on the Persian Gulf (or Arabian Gulf), the Arabian Sea and the Gulf of Oman. The Wahiba Sands are a region of dunes inhabited by Bedouins. The port capital Muscat has the massive and contemporary Sultan Qaboos Grand Mosque and the old city of Matrah, with its labyrinthine souk and bustling fish market.
General presentation
Official name: Sultanate of Oman
Type of government: Monarchy
Area: 312,460 km2
Capital: Muscat
Main cities: Salalah, Sur, Sohar, Nizwa Official language: Arabic
National holiday: November 18
Population: 5.1 million (2020, World Bank)
Density: 15.6 inhabitants/km2 (2018)
Population growth rate: 3.4% (2018)
Literacy rate: 95.65% (2018)
Source: Ministry of Europe and Foreign Affairs
Economic situation
With a GDP of USD 63 billion in 2020 and 4.4 million inhabitants, 37% of whom are expatriates mainly from the Indian subcontinent, Oman is classified as a high-income country by the World Bank (GDP per capita of USD 14,000). The development of the economy was originally based almost entirely on the exploitation of hydrocarbons, a sector that remains at the heart of the growth model today. In 2020, oil and gas accounted for 31% of GDP and around 70% of exports and budgetary revenues, despite the implementation of a diversification plan aimed at promoting non-oil growth – in particular manufacturing, tourism, logistics, fishing and mining – and creating jobs for nationals (“Omanization”).
Source: IMF
Bilateral Relations
Bilateral investment treaties
Work in process
Double taxation agreements
Work in process
Free trade agreements
Work in process
Leading sector for Swiss companies
– Alternative energies
– Industrial equipment
– Luxury tourism and health
Indicators
| 2016 | 2017 E | 2018 E | 2019 E | |
|---|---|---|---|---|
| GDP (in billions of USD) | 65.94 | 70.78 | 81.68 | 86.53 |
| GDP per capita (USD) | 16.447 | 17.128 | 19.170 | 19.690 |
| Growth rate | 5.% | -0.9% | 1.9% | 5.% |
| Unemployment rate | 17.5% | 17% | ||
| Inflation rate | 1.1% | 1.6% | 1.5% | 3.2% |
| Public debt (% of GDP) | 32.5 | 46.9 | 48.7 | 45.1 |
| Budget balance (% of GDP) | -12.32 | -10.76 | -2.71 | -0.40 |
| Current account balance (% of GDP) | -18.7 | -5.2 | -3.3 | -0.5 |
(Sources FMI, Banque Mondiale)
Main customers
2018: China (34.4%), United Arab Emirates (22.4%), AS (15.3%), India 9.8
Source: IMF
Main suppliers
2018: United Arab Emirates (42.8%), China (6.2%), India (5.4%), United States (4.1%).
Source : IMF
Swiss exports to
Work in process
Exports of …. to Switzerland
Work in process
Swiss direct investment in
Work in process
The business climate
Work in process