Oman: Gross domestic income (constant LCU)

Key figures

What the numbers say

In 2024, Oman's gross domestic income (constant LCU) rose 1.1% on 2023 (from 37.28 billion to 37.67 billion).

Across the 25 yearly changes before that (1999 to 2023), the average change was +5.8% and a typical year strayed about 9.1% 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 20.7% in 2008 and the biggest yearly fall was 13.1% in 2015. 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 852.96 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 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

• Eswatini — 14th of 29: 69.66 billion
• Zimbabwe — 15th of 29: 69.09 billion
• Cuba — 16th of 29: 47.54 billion
• Kuwait — 18th of 29: 36.28 billion
• Bahrain — 19th of 29: 15.72 billion
• Bahamas, The — 20th of 29: 13.81 billion

What this measures

Real gross domestic income (real GDI) measures the purchasing power of the total incomes generated by domestic production. It is a concept that exists in real terms only. When the terms of trade change there may be a significant divergence between the movements of GDP in volume terms and real GDI. The difference between the change in GDP in volume terms and real GDI is generally described as the “trading gain” (or loss) or, to turn this round, the trading gain or loss from changes in the terms of trade is the difference between real GDI and GDP in volume terms. 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

Gross domestic income (constant LCU) in nearby economies

• Algeria — 10.06 trillion (2025)
• Bahrain — 15.72 billion (2024)
• Djibouti — 766.9 billion (2025)
• Egypt, Arab Rep. — 8.46 trillion (2025)
• Iran, Islamic Rep. — 69,218.5 trillion (2025)
• Iraq — 186.48 trillion (2024)
• Israel — 1.75 trillion (2025)
• Kuwait — 36.28 billion (2024)
• Lebanon — 39.48 trillion (2024)
• Libya — 66.51 billion (2025)
• Malta

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

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Questions people ask

What is Oman's gross domestic income (constant LCU)?

37.67 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1998?

It is up 272.92% from 10.1 billion in 1998 (5.19% a year on average, compounded). The highest value was 38.62 billion in 2022 and the lowest 10.1 billion in 1998.

How does Oman rank?

18th highest of 29 economies with data for 2024.

Is the latest change in gross domestic income (constant LCU) unusual for Oman?

In 2024, Oman's gross domestic income (constant LCU) rose 1.1% on 2023 (from 37.28 billion to 37.67 billion). Across the 25 yearly changes before that (1999 to 2023), the average change was +5.8% and a typical year strayed about 9.1% 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 NY.GDY.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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