Oman GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Oman expanded 8.30 percent in 2012 from the previous year. GDP Annual Growth Rate in Oman is reported by the National Center for Statistics & Information – Oman. Historically, from 2000 until 2012, Oman GDP Annual Growth Rate averaged 5.92 Percent reaching an all time high of 13.10 Percent in December of 2008 and a record low of 2 Percent in December of 2003. Oman’s economy relies heavily on oil production. The petroleum sector accounts for around 87 percent of budget revenues, 45 percent of GDP and 60 percent of total exports. However, as oil reserved have been shrinking in recent years the government has embarked on a process of economic diversification focused on development of tourism and gas based industries. This page includes a chart with historical data for GDP Annual Growth Rate in Oman.