Oman - Exports of goods and services (% of GDP)

Exports of goods and services (% of GDP) in Oman was 44.25 as of 2020. Its highest value over the past 53 years was 74.60 in 1969, while its lowest value was 33.76 in 1967.

Definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1967 33.76
1968 70.14
1969 74.60
1970 73.69
1971 65.79
1972 59.38
1973 67.83
1974 73.72
1975 67.55
1976 62.33
1977 58.30
1978 58.32
1979 61.06
1980 62.66
1981 64.69
1982 58.55
1983 53.65
1984 50.28
1985 49.83
1986 39.25
1987 48.88
1988 40.01
1990 47.23
1991 43.07
1992 44.72
1993 43.05
1994 43.00
1995 44.04
1996 49.81
1997 50.04
1998 42.22
1999 49.06
2000 60.34
2001 59.43
2002 58.49
2003 56.98
2004 57.03
2005 63.16
2006 61.53
2007 62.68
2008 64.95
2009 60.50
2010 59.09
2011 63.92
2012 62.72
2013 66.03
2014 61.44
2015 49.65
2016 41.32
2017 45.72
2018 50.62
2019 49.49
2020 44.25

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on exports and imports are compiled from customs reports and balance of payments data. Although the data from the payments side provide reasonably reliable records of cross-border transactions, they may not adhere strictly to the appropriate definitions of valuation and timing used in the balance of payments or corresponds to the change-of ownership criterion. This issue has assumed greater significance with the increasing globalization of international business. Neither customs nor balance of payments data usually capture the illegal transactions that occur in many countries. Goods carried by travelers across borders in legal but unreported shuttle trade may further distort trade statistics.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts