Oman's gross fixed capital formation (current LCU) was 10.52 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 1.05% from 10.63 billion in 2014 (0.11% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 10.52 billion | 2024 |
| Five years earlier | 9.8 billion | 2019 |
| Ten years earlier | 10.63 billion | 2014 |
| Highest | 11.35 billion | 2016 |
| Lowest | 9.3 million | 1969 |
| Average since 2015 | 10.09 billion | 2015–2024 |
| First recorded | 12.1 million |
What the numbers say
In 2024, Oman's gross fixed capital formation (current LCU) rose 6.1% on 2023 (from 9.91 billion to 10.52 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +10.4% and a typical year strayed about 22.3% from that (the standard deviation). This year's change was 0.2 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 292.1% in 1974 and the biggest yearly fall was 19.1% in 1999. 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 there is no clear straight-line trend: a straight line explains 20% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
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 25th highest value of the 38 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
- Tunisia — 22nd of 38: 24.3 billion
- Eswatini — 23rd of 38: 14.3 billion
- Bosnia and Herzegovina — 24th of 38: 13.1 billion
- Kuwait — 26th of 38: 8.26 billion
- Bahrain — 27th of 38: 5.13 billion
- Bahamas, The — 28th of 38: 4.08 billion
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 current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 51 values
| Year | Gross fixed capital formation (current LCU) |
|---|---|
| 2024 | 10,519,400,000 |
| 2023 | 9,911,300,000 |
| 2022 | 9,691,000,000 |
| 2021 | 9,017,700,000 |
| 2020 | 9,215,700,000 |
| 2019 | 9,803,400,000 |
| 2018 | 10,728,100,000 |
| 2017 | 10,359,500,000 |
| 2016 | 11,352,300,000 |
| 2015 | 10,293,300,000 |
Gross fixed capital formation (current LCU) in nearby economies
- Algeria — 14.88 trillion (2025)
- Bahrain — 5.13 billion (2024)
- Djibouti — 209.27 billion (2025)
- Egypt, Arab Rep. — 2.12 trillion (2025)
- Iran, Islamic Rep. — 77,561.7 trillion (2025)
- Iraq — 52.19 trillion (2024)
- Israel — 501.88 billion (2025)
- Kuwait — 8.26 billion (2024)
- Lebanon — 33.59 trillion (2024)
- Libya — 36.42 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 (current LCU)?
- 10.52 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1967?
- It is up 86,837% from 12.1 million in 1967 (12.61% a year on average, compounded). The highest value was 11.35 billion in 2016 and the lowest 9.3 million in 1969.
- How does Oman rank?
- 25th highest of 38 economies with data for 2024.
- Is the latest change in gross fixed capital formation (current LCU) unusual for Oman?
- In 2024, Oman's gross fixed capital formation (current LCU) rose 6.1% on 2023 (from 9.91 billion to 10.52 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +10.4% and a typical year strayed about 22.3% from that (the standard deviation). This year's change was 0.2 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.FTOT.CN, 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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