Oman's trade (% of GDP) was 114.85% in 2024, the latest year in the World Bank's World Development Indicators. That is up 12.57 percentage points from 102.28% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 114.85% | 2024 |
| Five years earlier | 86.48% | 2019 |
| Ten years earlier | 102.28% | 2014 |
| Highest | 123.02% | 1973 |
| Lowest | 56.19% | 1967 |
| Average since 2015 | 95.88% | 2015–2024 |
| First recorded | 56.19% | 1967 |
What the numbers say
In 2024, Oman's trade (% of GDP) rose 8.41 percentage points on 2023 (from 106.45% to 114.85%).
Across the 30 yearly changes before that (1994 to 2023), the average change was +1.38 percentage points and a typical year strayed about 5.53 percentage points from that (the standard deviation). This year's change was 1.3 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 28.69 percentage points in 1968 and the biggest yearly fall was 13.51 percentage points in 2016. 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 2.67 percentage points 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 7th highest value of the 33 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.
| Value | Year | |
|---|---|---|
| Oman | 114.85% | 2024 |
| World | 68.49% | 2025 |
| High income | 60.54% | 2024 |
Closest to Oman in the 2024 ranking
What this measures
Trade is the sum of exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 57 values
| Year | Trade (% of GDP) |
|---|---|
| 2024 | 114.85 |
| 2023 | 106.45 |
| 2022 | 105.75 |
| 2021 | 95.95 |
| 2020 | 91.88 |
| 2019 | 86.48 |
| 2018 | 89.28 |
| 2017 | 88.95 |
| 2016 | 82.86 |
| 2015 | 96.38 |
| 2014 | 102.28 |
Trade (% of GDP) in nearby economies
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 trade (% of GDP)?
- 114.85% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1967?
- It is up 58.67 percentage points from 56.19% in 1967. The highest value was 123.02% in 1973 and the lowest 56.19% in 1967.
- How does Oman rank?
- 7th highest of 33 economies with data for 2024.
- Is the latest change in trade (% of GDP) unusual for Oman?
- In 2024, Oman's trade (% of GDP) rose 8.41 percentage points on 2023 (from 106.45% to 114.85%). Across the 30 yearly changes before that (1994 to 2023), the average change was +1.38 percentage points and a typical year strayed about 5.53 percentage points from that (the standard deviation). This year's change was 1.3 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NE.TRD.GNFS.ZS, 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.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
Legal entity
Devansh Yadav
Moradabad, Uttar Pradesh
Governing law: Courts at Moradabad, Uttar Pradesh
Phone: +91 8433475698
Legal: legal@analyzeit.in