Oman - Balance of payments



Oman's balance of payments account is dominated by crude oil export earnings, consumer and capital goods and services, imports payments, and by large outgoing remittances by foreign workers.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Oman's exports was $10.9 billion while imports totaled $5.4 billion resulting in a trade surplus of $5.5 billion.

The International Monetary Fund (IMF) reports that in 2001 Oman had exports of goods totaling $11.1 billion and imports totaling $5.31 billion. The services credit totaled $349 million and debit $1.68 billion. The following table summarizes Oman's balance of payments as reported by the IMF for 2001 in millions of US dollars.

Oman

Current Account 2,315
Balance on goods 5,763
Balance on services -1,329
Balance on income -588
Current transfers -1,532
Capital Account -10
Financial Account -887
Direct investment abroad
Direct investment in Oman 42
Portfolio investment assets
Portfolio investment liabilities 13
Other investment assets 229
Other investment liabilities -1,170
Net Errors and Omissions -384
Reserves and Related Items -1,034
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