Flag of Oman

Bilateral trade sheet Oman
This sheet gives an overview of the bilateral trade relations between Oman and Belgium.

Bilateral trade note Oman (January 2023)
In addition to general information about, for example, GDP, inflation, the number of inhabitants, global imports and exports, the unemployment rate, etc., this bilateral trade note also contains an analysis of bilateral trade with Oman as well as an overview of the main import and export sections.
Document only available in Dutch.


  • Bilateral trade sheet Oman

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  • Bilateral trade note Oman (January 2023)

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Economic study Oman (February 2014)

Oman has enjoyed a period of unprecedented economic progress over the last 40 years. This "boom" coincides with the reign of the current Sultan Qaboos bin Said al-Said, who came to power in 1970, and has been largely supported by the revenues of the oil sector (production and exports). In 2012, the oil sector accounted for almost 50% of GDP.

However, the high dependence on black gold makes the country vulnerable to shocks to the stock price of a barrel of crude oil. In response, the Sultanate launched Vision 2020 back in 1995, a long-term strategy built around three key components: "economic diversification, omanisation and privatisation". The key elements of this policy were subsequently developed and implemented through various five-year policy programmes, the most recent of which covers the period 2011-2015.

For the period 2013-2017, the Economist Intelligence Unit forecasts an average annual growth rate of 4.6%, 70% of which will be driven by growth in non-oil sectors, according to data from the Central Bank of Oman.

On the occasion of the joint Belgian economic mission to Oman (14-21 March 2014), the Belgian Foreign Trade Agency has published an economic study. The first chapter is devoted to Oman's macroeconomic situation, while the second contains an analysis of three dynamic sectors in which trade opportunities abound: infrastructure & logistics, energy & environment and the banking sector. This is followed by a selection of recent success stories of Belgian companies in Oman.

Document only available in French and Dutch.

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