Oman's final consumption expenditure (constant LCU) was 22.93 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 23.02% from 18.64 billion in 2014 (2.09% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 22.93 billion | 2024 |
| Five years earlier | 19.55 billion | 2019 |
| Ten years earlier | 18.64 billion | 2014 |
| Highest | 22.93 billion | 2024 |
| Lowest | 6.53 billion | 1999 |
| Average since 2015 | 20.21 billion | 2015–2024 |
| First recorded | 6.61 billion |
What the numbers say
In 2024, Oman's final consumption expenditure (constant LCU) rose 3.2% on 2023 (from 22.21 billion to 22.93 billion).
Across the 25 yearly changes before that (1999 to 2023), the average change was +5% and a typical year strayed about 4.2% from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 14.2% in 2012 and the biggest yearly fall was 1.4% in 2019. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 448.01 million a year. A straight line explains 86% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about 23.3 billion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 536.33 million, against 1.94 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2024, Oman had the 18th highest value of the 29 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Oman in the 2024 ranking
- Panama — 15th of 29: 50.6 billion
- Cuba — 16th of 29: 42.75 billion
- Kuwait — 17th of 29: 23.53 billion
- Solomon Islands — 19th of 29: 12.25 billion
- Bahamas, The — 20th of 29: 10.8 billion
- Bahrain — 21st of 29: 8.15 billion
What this measures
Final consumption expenditure is expenditure on goods and services by resident institutional units for the direct satisfaction of human needs or wants, whether individual or collective. Final consumption expenditure can be measured for households, general government, the central bank and non-profit institutions serving households. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 27 values
| Year | Final consumption expenditure (constant LCU) |
|---|---|
| 2024 | 22,926,700,000 |
| 2023 | 22,213,300,000 |
| 2022 | 21,153,500,000 |
| 2021 | 20,162,400,000 |
| 2020 | 19,586,000,000 |
| 2019 | 19,552,200,000 |
| 2018 | 19,830,400,000 |
| 2017 | 19,522,300,000 |
| 2016 | 18,427,400,000 |
| 2015 | 18,678,400,000 |
Final consumption expenditure (constant LCU) in nearby economies
- Algeria — 6.55 trillion (2025)
- Bahrain — 8.15 billion (2024)
- Djibouti — 650.33 billion (2025)
- Egypt, Arab Rep. — 8.18 trillion (2025)
- Iran, Islamic Rep. — 42,653.4 trillion (2025)
- Iraq — 142.06 trillion (2024)
- Israel — 1.29 trillion (2025)
- Kuwait — 23.53 billion (2024)
- Lebanon — 51.23 trillion (2024)
- Libya — 54.45 billion (2025)
More economic policy & debt data for Oman
- GDP (current US$) — US$109.61 billion (2025)
- GDP (current LCU) — 42.14 billion (2025)
- GDP (constant 2015 US$) — US$93.82 billion (2025)
- GDP (constant LCU) — 39.3 billion (2025)
- GDP per capita (current US$) — US$19,947 (2025)
- GDP per capita (current LCU) — 7,670 (2025)
- GDP per capita (constant 2015 US$) — US$17,074 (2025)
- GDP per capita (constant LCU) — 7,151 (2025)
- Agriculture, forestry, and fishing, value added (current US$) — US$3.08 billion (2025)
- Agriculture, forestry, and fishing, value added (current LCU) — 1.18 billion (2025)
- Agriculture, forestry, and fishing, value added (% of GDP)
Reading data like this
Questions people ask
- What is Oman's final consumption expenditure (constant LCU)?
- 22.93 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1998?
- It is up 246.86% from 6.61 billion in 1998 (4.9% a year on average, compounded). The highest value was 22.93 billion in 2024 and the lowest 6.53 billion in 1999.
Source
World Bank, World Development Indicators, indicator NE.CON.TOTL.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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