Economy of Oman (2017)
GDP (nominal, billion USD)
|
65.8
|
Inflation rate (%)
|
1,7
|
Real GDP growth rate (%)
|
-0,1
|
Unemployment rate (%)
|
7,5 (According to IMF, this figure is above 20 %)
|
Population (million)
|
4,6
|
Export (fob-billion $ )
|
27,5
|
GDP per capita (USD)
|
46.697
|
Import (cif-billion $ )
|
20,2
|
Source: Turkish Embassy in Muscat, National Centre for Statistics and
Information of Oman, IMF, World Bank
Main export partners:
UAE, Saudi Arabia, Qatar, India, PRC, Iran, Yemen
Main import partners:
UAE, USA, PRC, India, Saudi Arabia, Brazil, Yemen
Main export items:
Minerals, crude oil, petroleum oil and derivates, iron, organic chemicals,
aluminum and aluminum products
Main import items:
Air vehicles, gold, iron, petroleum oils, electronic equipment,
construction equipment.
Bilateral Trade and Economic Relations
(in million USD):
|
2015
|
2016
|
2017
|
2018
|
Export
|
325
|
244
|
221
|
422
|
Import
|
60
|
49
|
95
|
67
|
Volume
|
385
|
293
|
316
|
489
|
Balance
|
265
|
195
|
126
|
355
|
Source: TurkStat
Due to the decline in global oil prices, Türkiye’s trade volume with Oman
decreased in 2015 and 2016 (compared to 2013 and 2014), whereas in 2017,
bilateral trade volume started to increase again. In 2018, the bilateral
trade volume gained a major impetus and reached by the end of 2018 USD 489
million, showing a 55% increase compared to the bilateral trade volume in
2017 (USD 316 million).
Türkiye’s main export items to Oman:
Iron and steel, furniture, weaved carpet, motor vehicles, machinery, food
items
Türkiye’s main import items from Oman:
Aluminum and aluminum products, petroleum oils, plastic and plastic
products, synthetic and artificial discontinuous fibers
Bilateral Cooperation Mechanisms:
Joint Economic Commission (JEC) Meetings:
10th meeting of the Joint Economic Commission was held on 9-10
May 2017 in Muscat.
Türkiye-Oman Business Council:
The agreement establishing the Türkiye-Oman Business Council was signed
between the Istanbul Chamber of Commerce (ITO), the Union of Chambers and
Commodity Exchanges of Türkiye (TOBB) and the Oman Chamber of Commerce and
Industry (OCCI) on 1 December 2006 in Istanbul. The last meeting of the
Council was convened on 9-10 April 2018 in Muscat.