Oman: Gross capital formation (constant 2015 US$)

Key figures

What the numbers say

In 2024, Oman's gross capital formation (constant 2015 US$) fell 5.9% on 2023 (from US$25.5 billion to US$24 billion).

Across the 25 yearly changes before that (1999 to 2023), the average change was +6.2% and a typical year strayed about 26% from that (the standard deviation). This year's change was 0.5 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 91.4% in 2006 and the biggest yearly fall was 39.7% in 2005. 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 downward, about US$681.14 million a year. A straight line explains 63% 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.

How it compares

In 2024, Oman had the 6th highest value of the 31 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

• Kazakhstan — 3rd of 31: US$79.18 billion
• New Zealand — 4th of 31: US$50.31 billion
• Panama — 5th of 31: US$25.84 billion
• Kuwait — 7th of 31: US$23.28 billion
• Angola — 8th of 31: US$17.12 billion
• Iraq — 9th of 31: US$14.54 billion

What this measures

Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. 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 is 2015. This indicator is expressed in United States dollars.

Limitations: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 27 values

Gross capital formation (constant 2015 US$) in nearby economies

• Algeria — US$118.45 billion (2025)
• Bahrain — US$12.01 billion (2024)
• Djibouti — −US$82.41 million (2025)
• Egypt, Arab Rep. — US$44.09 billion (2025)
• Iran, Islamic Rep. — US$184.32 billion (2025)
• Iraq — US$14.54 billion (2024)
• Israel — US$103.93 billion (2025)
• Kuwait — US$23.28 billion (2024)
• Lebanon — US$89.93 million (2024)
• Libya — US$7.95 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)

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Questions people ask

What is Oman's gross capital formation (constant 2015 US$)?

US$24 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1998?

It is up 120.17% from US$10.9 billion in 1998 (3.08% a year on average, compounded). The highest value was US$32.47 billion in 2017 and the lowest US$6.56 billion in 2000.

How does Oman rank?

6th highest of 31 economies with data for 2024.

Is the latest change in gross capital formation (constant 2015 US$) unusual for Oman?

In 2024, Oman's gross capital formation (constant 2015 US$) fell 5.9% on 2023 (from US$25.5 billion to US$24 billion). Across the 25 yearly changes before that (1999 to 2023), the average change was +6.2% and a typical year strayed about 26% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NE.GDI.TOTL.KD, 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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