Oman's gross fixed capital formation (constant LCU) was 9.22 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 2.8% from 9.48 billion in 2014 (0.28% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 9.22 billion | 2024 |
| Five years earlier | 9.61 billion | 2019 |
| Ten years earlier | 9.48 billion | 2014 |
| Highest | 11.06 billion | 2016 |
| Lowest | 2.29 billion | 2000 |
| Average since 2015 | 9.59 billion | 2015–2024 |
| First recorded | 3.05 billion |
What the numbers say
In 2024, Oman's gross fixed capital formation (constant LCU) rose 7.1% on 2023 (from 8.6 billion to 9.22 billion).
Across the 25 yearly changes before that (1999 to 2023), the average change was +4.9% and a typical year strayed about 12.4% from that (the standard deviation). This year's change was 0.2 standard deviations above 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 31.6% in 2008 and the biggest yearly fall was 15.7% in 2021. 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 237.76 million a year. A straight line explains 52% 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 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
What this measures
Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. 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 | Gross fixed capital formation (constant LCU) |
|---|---|
| 2024 | 9,217,900,000 |
| 2023 | 8,604,600,000 |
| 2022 | 8,403,500,000 |
| 2021 | 8,252,500,000 |
| 2020 | 9,788,400,000 |
| 2019 | 9,611,100,000 |
| 2018 | 10,728,100,000 |
| 2017 | 10,673,800,000 |
| 2016 | 11,055,400,000 |
| 2015 | 9,603,800,000 |
Gross fixed capital formation (constant LCU) in nearby economies
- Algeria — 4.65 trillion (2025)
- Bahrain — 4.46 billion (2024)
- Djibouti — 190.96 billion (2025)
- Egypt, Arab Rep. — 1.03 trillion (2025)
- Iran, Islamic Rep. — 20,969.7 trillion (2025)
- Iraq — 10.13 trillion (2024)
- Israel — 412.25 billion (2025)
- Lebanon — 123.03 billion (2024)
- Libya — 10.11 billion (2025)
- Malta — 3.55 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 gross fixed capital formation (constant LCU)?
- 9.22 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1998?
- It is up 202.48% from 3.05 billion in 1998 (4.35% a year on average, compounded). The highest value was 11.06 billion in 2016 and the lowest 2.29 billion in 2000.
- How does Oman rank?
- 18th highest of 31 economies with data for 2024.
- Is the latest change in gross fixed capital formation (constant LCU) unusual for Oman?
- In 2024, Oman's gross fixed capital formation (constant LCU) rose 7.1% on 2023 (from 8.6 billion to 9.22 billion). Across the 25 yearly changes before that (1999 to 2023), the average change was +4.9% and a typical year strayed about 12.4% from that (the standard deviation). This year's change was 0.2 standard deviations above 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.FTOT.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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