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

 20162017 E2018 E2019 E
GDP (in billions of USD)65.9470.7881.6886.53
GDP per capita (USD)16.44717.12819.17019.690
Growth rate5.%-0.9%1.9%5.%
Unemployment rate17.5%17%
Inflation rate1.1%1.6%1.5%3.2%
Public debt (% of GDP)32.546.948.745.1
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