Economics and statistics

Oman's economy traditionally depends on oil and gas (exports and fiscal revenues), but the reform course shifts focus to logistics, industrial zones and tourism under Vision 2040. Ports and FEZs (Sohar, Dukm, Salala), oil and gas chemistry, mining, energy and services are developing.

The rial is pegged to the US dollar, which smooths out exchange rate fluctuations and helps keep inflation at bay; budget dynamics are sensitive to oil prices and investment programs.

Sovereign funds and state-owned companies play a key role, the banking sector is stable, non-cash payments and e-commerce are growing.

The labor market has a large share of expats, in parallel there is an "omanization" of employment and the development of skills.

For monitoring: total and non-oil GDP, oil and gas production/export, oil prices, budget balance and public debt, reserves and balance of payments, inflation and interest rates, PMI of the non-oil sector, cargo and passenger traffic through ports/airports, investments in FEZ, employment (including the share of citizens/expats), POS turnover/online payments and hotel loading - these metrics show the sustainability of domestic demand and the course of diversification.