| ECONOMY |
| |
| Overview |
Oman's
economic performance improved significantly in 2000 due largely
to the upturn in oil prices. The government is moving ahead
with privatization of its utilities, the development of a
body of commercial law to facilitate foreign investment, and
increased budgetary outlays. Oman continues to liberalize
its markets and joined the World Trade Organization (WTrO)
in November 2000. GDP growth improved in 2001 despite the
global slowdown and then fell back to 2.2% in 2002. In order
to reduce unemployment, the government is trying to replace
expatriate workers with local workers. Another government
objective is the development of the nation's gas resources.
|
| GDP |
purchasing
power parity - $22.4 billion (2002 est.) |
| GDP
- real growth rate |
2.2% (2002
est.) |
| GDP
- per capita |
purchasing
power parity - $8,300 (2002 est.) |
| GDP
- composition by sector |
agriculture:
3%
industry: 55%
services: 42% (2001 est.) |
| Population
below poverty line |
NA% |
| Inflation
rate (consumer prices) |
-0.5% (2002
est.) |
| Labor
force |
920,000 (2002
est.) |
| Labor
force - by occupation |
agriculture
NA%, industry NA%, services NA% |
| Unemployment
rate |
NA% |
| Industries |
crude oil
production and refining, natural gas production, construction,
cement, copper |
| Industrial
production growth rate |
4% (2000
est.) |
