Oman: Trade balance, percent of GDP

The latest value from 2024 is 17.29 percent, an increase from 16.72 percent in 2023. In comparison, the world average is -4.41 percent, based on data from 166 countries. Historically, the average for Oman from 1967 to 2024 is 17.44 percent. The minimum value, -6.82 percent, was reached in 1998 while the maximum of 62.7 percent was recorded in 1969. See the global rankings for that indicator or use the country comparator to compare trends over time.

The trade balance for Oman and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.

Definition: The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.