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Economy of Brunei vs Oman compared: GDP & Debt

Updated on by Georank team

Brunei has a GDP of $15.3B compared to $107B for Oman, ranking 142/197 and 70/197 by economy size, respectively.

Brunei has $351M in government debt (2.29% of GDP), compared to $38B (35.5% of GDP) in Oman.

Brunei vs Oman GDP by year

Brunei
Oman
1x
Year GDP, current $
Brunei Oman
2024 $15,340,808,592 $107,137,198,769
2023 $15,095,084,656 $106,174,708,037
2022 $16,681,536,467 $109,852,795,839
2021 $14,006,496,617 $87,323,797,139
2020 $12,005,799,654 $75,909,492,848
2019 $13,469,235,365 $88,060,858,257
2018 $13,566,908,391 $91,505,851,756
2017 $12,128,168,045 $80,856,697,009
2016 $11,400,266,045 $75,128,738,622
2015 $12,930,296,870 $78,710,793,238
2014 $17,097,797,386 $92,699,089,727
2013 $18,094,148,099 $89,936,020,806
2012 $19,048,443,341 $87,408,842,653
2011 $18,524,791,063 $77,497,529,259
2010 $13,707,121,038 $64,993,498,049
2009 $11,912,904,510 $55,454,096,229
2008 $15,926,456,515 $69,804,681,404
2007 $13,432,029,484 $48,300,390,117
2006 $12,644,616,419 $42,577,633,290
2005 $10,547,202,621 $35,506,892,068
2004 $8,619,178,774 $28,378,933,680
2003 $7,167,725,262 $24,733,680,104
2002 $6,333,082,876 $23,065,539,662
2001 $6,096,155,767 $22,205,721,717
2000 $6,570,999,088 $22,259,557,867
1999 $6,309,070,378 $17,832,769,831
1998 $5,550,846,020 $16,044,213,264
1997 $7,793,034,376 $18,039,791,938
1996 $7,663,377,306 $17,402,080,624
1995 $7,700,144,069 $15,722,236,671
1994 $6,467,782,518 $14,715,214,564
1993 $6,203,339,912 $14,230,429,129
1992 $6,327,966,435 $14,183,615,085
1991 $6,284,497,294 $12,918,335,501
1990 $6,039,881,087 $13,310,273,082
1989 $4,983,622,881 $9,372,171,651
1988 $4,535,130,305 $8,386,215,865
1987 $4,918,010,080 $7,811,183,095
1986 $4,190,280,003 $7,324,167,369
1985 $6,967,623,884 $10,005,645,420
1984 $7,632,788,075 $8,821,443,151
1983 $7,927,590,750 $7,932,541,691
1982 $8,932,198,186 $7,554,719,456
1981 $9,367,218,664 $7,259,120,151
1980 $10,795,432,294 $5,981,760,278
1979 $6,044,367,628 $3,733,352,635
1978 $4,100,423,674 $2,740,301,390
1977 $3,681,242,528 $2,741,169,948
1976 $3,054,765,590 $2,560,220,035
1975 $2,496,420,258 $2,096,699,189
1974 $2,319,576,214 $1,645,917,776
1973 $433,095,527 $483,066,991
1972 $270,822,782 $366,883,548
1971 $197,525,768 $301,010,587
1970 $179,078,929 $256,319,795
1969 $161,210,236 $239,999,808
1968 $160,818,236 $188,879,849
1967 $139,029,537 $107,151,832
1966 $132,757,528 $67,759,973
1965 $114,039,501 $63,279,975
1964 - $61,872,526
1963 - $59,912,763
1962 - $56,273,202
1961 - $45,634,487
1960 - $44,234,656

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/brunei/oman | CC BY

GDP per capita in Brunei vs Oman by year

Brunei
GDP per capita

GDP per capita, PPP
Oman
GDP per capita

GDP per capita, PPP
1x
Year Current $
Brunei Oman
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $33,153 $89,879 $20,285 $41,740
2023 $32,891 $85,033 $21,028 $41,945
2022 $36,633 $81,802 $23,224 $42,616
2021 $31,007 $78,249 $19,403 $38,719
2020 $26,834 $69,788 $16,785 $35,163
2019 $30,427 $69,354 $19,180 $37,251
2018 $30,988 $65,149 $19,902 $37,780
2017 $28,024 $61,658 $17,820 $33,619
2016 $26,663 $56,680 $17,110 $33,334
2015 $30,625 $62,708 $18,808 $36,058
2014 $41,027 $81,226 $23,161 $44,236
2013 $44,003 $83,237 $23,458 $47,013
2012 $46,969 $87,256 $24,642 $49,989
2011 $46,383 $82,735 $25,188 $52,393
2010 $34,938 $79,543 $23,570 $55,667
2009 $30,946 $77,957 $20,656 $55,127
2008 $42,157 $80,477 $26,577 $52,841
2007 $36,217 $83,693 $18,793 $48,627
2006 $34,675 $86,114 $16,931 $46,091
2005 $29,386 $81,534 $14,435 $43,673
2004 $24,423 $80,404 $11,801 $42,142
2003 $20,678 $79,632 $10,464 $40,935
2002 $18,621 $76,838 $9,869 $41,511
2001 $18,288 $74,254 $9,612 $41,679
2000 $20,130 $73,087 $9,754 $39,443
1999 $19,752 $70,585 $7,915 $36,792
1998 $17,769 $68,257 $7,219 $36,666
1997 $25,522 $73,980 $8,235 $36,809
1996 $25,692 $70,008 $8,068 $34,661
1995 $26,443 $70,440 $7,414 $33,598
1994 $22,767 $69,779 $7,068 $31,925
1993 $22,397 $69,387 $7,039 $30,987
1992 $23,451 $70,016 $7,318 $29,773
1991 $23,932 $72,610 $6,977 $28,109
1990 $23,659 $70,201 $7,546 $26,904
1989 $20,090 - $5,591 -
1988 $18,825 - $5,279 -
1987 $21,030 - $5,204 -
1986 $18,501 - $5,182 -
1985 $31,827 - $7,549 -
1984 $36,061 - $7,070 -
1983 $38,720 - $6,714 -
1982 $45,075 - $6,759 -
1981 $48,793 - $6,866 -
1980 $58,005 - $5,974 -
1979 $33,501 - $3,934 -
1978 $23,447 - $3,044 -
1977 $21,747 - $3,205 -
1976 $18,671 - $3,143 -
1975 $15,793 - $2,692 -
1974 $15,195 - $2,203 -
1973 $2,939 - $670 -
1972 $1,905 - $524 -
1971 $1,432 - $442 -
1970 $1,325 - $387 -
1969 $1,226 - $372 -
1968 $1,274 - $300 -
1967 $1,149 - $174.7 -
1966 $1,146 - $113.2 -
1965 $1,029 - $108.1 -
1964 - - $108.1 -
1963 - - $106.8 -
1962 - - $102.3 -
1961 - - $84.5 -
1960 - - $83.4 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/brunei/oman | CC BY

Brunei's GDP per capita is $33,153, ranking 36/197, compared to $20,285 in Oman, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Brunei ranks 9th at $89,879, while Oman ranks 55th at $41,740.

Economic indicators

Brunei Oman
Gross domestic product
$15.3B
2024
$107B
2024
GDP rank
142/197
2024
70/197
2024
GDP growth
4.05%
2023-2024
1.63%
2023-2024
GDP per capita
$33,153
2024
$20,285
2024
GDP per capita rank
36/197
2024
57/197
2024
GDP per capita, PPP
$89,879
2024
$41,740
2024
GDP per capita PPP rank
9/197
2024
55/197
2024
Government debt
$351M
2024
$38B
2024
Debt-to-GDP ratio
2.29%
2024
35.5%
2024
Government debt per person
$759
2024
$7,204
2024
Government debt per person rank
153/185
2024
67/185
2024
Average annual personal income after taxes
$24,405
2026
$20,894
2026
Market capitalization of domestic companies n/a
$22.3B
2022
Number of billionaires n/a
2
2025
Government expenditure, % of GDP
29.8%
2024
28.7%
2024
Consumer prices inflation
-0.39%
2023-2024
0.6%
2023-2024
Central bank interest rate n/a
4.5%
2025
Unemployment rate
4.87%
2024
3.3%
2024
Population
470884
5761708

Spending and national debt comparison by year

Brunei
Spending

Debt
Oman
Spending

Debt
1x
Year % of GDP
Brunei Oman
Government spending Government debt Government spending Government debt
2024 29.8% 2.29% 28.7% 35.5%
2023 29.4% 2.33% 27.5% 37.5%
2022 26.4% 2.06% 30.9% 41.7%
2021 29.3% 2.51% 36.5% 61.9%
2020 33.2% 2.86% 44.5% 67.9%
2019 32.4% 2.58% 38.8% 52.5%
2018 32.2% 2.59% 38.3% 44.7%
2017 36.6% 2.83% 39.4% 40.1%
2016 39.4% 3% 44.6% 29.3%
2015 38.7% 2.95% 44.5% 13.9%
2014 34.1% 3.23% 41.4% 4.04%
2013 33.6% 2.21% 39.3% 4.66%
2012 31% 2.1% 38.6% 4.59%
2011 29.7% 2.13% 34.5% 4.44%
2010 36.2% 1.11% 30.6% 5.46%
2009 34.8% 1.11% 33.4% 5.8%
2008 27.2% 0.94% 25.6% 3.2%
2007 29.3% 0.68% 30.7% 4.44%
2006 28% 0.59% 30.1% 7.56%
2005 29.1% 0% 30.6% 8.39%
2004 33.2% 0% 34.1% 14.5%
2003 30.9% 0% 34% 13%
2002 41.4% 0% 34.1% 15.9%
2001 35.5% 0% 33.3% 22.5%
2000 37.5% 0% 31.2% 21.7%
1999 44.1% 0% 34.2% 28.9%
1998 45.4% 0% 36.1% 30.9%
1997 39% 0% 32.1% 20.8%
1996 36.9% 0% 33.5% 21.2%
1995 44% 0% 38.2% 21.9%
1994 47.1% 0% 39.7% 23.6%
1993 38% 0% 40.1% 22.2%
1992 34.1% 0% 40.1% 23.1%
1991 30.6% 0% 37.4% 22.6%
1990 32% 0% 36.5% 17.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/brunei/oman | CC BY

In 2024, Brunei's government spending was $4.57B, accounting for 29.8% of its GDP, while Oman spent $30.7B, or 28.7% of GDP.

Debt-to-GDP ratio is 2.29% in Brunei and 35.5% in Oman, ranking 185/185 and 145/185, respectively.

Government deficit by year

Deficit/surplus
Brunei

Oman
1x
Year Deficit/surplus, % of GDP
Brunei Oman
2024 -10.2% 3.31%
2023 -10.9% 6.87%
2022 2.53% 10.5%
2021 -8.16% -3.17%
2020 -15.8% -15.7%
2019 -3.69% -4.83%
2018 -3.59% -6.72%
2017 -10.4% -10.5%
2016 -21.7% -19.6%
2015 -14.5% -13.5%
2014 3.58% -1.58%
2013 13% 2.78%
2012 15.8% 4.07%
2011 25.6% 8.24%
2010 7.61% 4.95%
2009 3.61% -0.27%
2008 36.1% 14.7%
2007 3.12% 10.5%
2006 19.8% 12.2%
2005 16% 11.2%
2004 8.57% 5.43%
2003 8.06% 5.92%
2002 -4.61% 5.31%
2001 2.59% 7.55%
2000 6.86% 12.2%
1999 -18.3% 0.3%
1998 -24% -4.37%
1997 -11.8% 4.77%
1996 -8.7% 2.22%
1995 -19.8% -3.9%
1994 -22.6% -7.47%
1993 -12.8% -6.84%
1992 -8.28% -4.85%
1991 -1.06% 0.12%
1990 -1.63% 4.78%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/brunei/oman | CC BY

In 2024, Brunei's government deficit, the difference between spending and revenue, was $1.56B, equivalent to 10.2% of GDP. This compares to Oman's surplus of $3.54B, or 3.31% of GDP.

Over the past 35 years, Brunei recorded a fiscal deficit in 20 of those years, while Oman ran a deficit in 14 years. On average, Brunei posted an annual deficit equal to 1.7% of GDP, compared to surplus of 0.99% of GDP for Oman.

Inflation comparison by year

Inflation
Brunei

Oman
1x
Year Consumer prices inflation
Brunei Oman
2024 -0.39% 0.6%
2023 0.36% 1%
2022 3.68% 2.5%
2021 1.73% 1.7%
2020 1.94% -0.4%
2019 -0.39% 0.5%
2018 1.03% 0.7%
2017 -1.26% 1.5%
2016 -0.28% 0.9%
2015 -0.49% 0.1%
2014 -0.21% 1.2%
2013 0.39% 1.3%
2012 0.11% 2.9%
2011 0.14% 4.1%
2010 0.36% 3.3%
2009 1.04% 3.5%
2008 2.08% 12.6%
2007 0.97% 5.9%
2006 0.16% 3.2%
2005 1.24% 1.9%
2004 0.81% 0.8%
2003 0.3% 0.2%
2002 -2.31% -0.3%
2001 0.6% -0.8%
2000 1.56% -1.2%
1999 -0.42% 0.5%
1998 -0.44% 0.4%
1997 1.71% -0.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/brunei/oman | CC BY

Over the past 28 years, Brunei has recorded an average annual inflation rate of 0.5%, compared with 1.72% in Oman. In 2024, inflation was -0.39% in Brunei and 0.6% in Oman.

Top exports between countries

Brunei
Export category Export value
Miscellaneous $132K
Machinery & equipment $66K
Textiles & consumer goods $42K
Chemicals & pharma $28K
Metals $2K
Raw materials & minerals $1K
Oman
Export category Export value
Machinery & equipment $66K
Miscellaneous $26K
Raw materials & minerals $16K
Animal & marine products $10K
Chemicals & pharma $4K
Raw agricultural goods $4K
Metals $3K
Wood & paper products $3K

Balance of trade

Brunei Oman
Current account balance
$2.23B
2024
$3.07B
2024
Current account balance ranking
45/190
2024
39/190
2024
Current account balance, % of GDP
+14.5%
2024
+2.86%
2024
Goods imports
$7.36B
2024
$39.5B
2024
Goods exports
$11.1B
2024
$65.2B
2024
Service imports
$1.75B
2024
$12.8B
2024
Service exports
$410M
2024
$5.64B
2024
Imports of goods and services, % of GDP
58.3%
2024
48.8%
2024
Exports of goods and services, % of GDP
74.3%
2024
66.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Brunei Oman
Economic freedom 67.5 68.5
Economic freedom ranking 55/197 45/197
Property rights 66.1 71.8
Government integrity 60.4 49.4
Judicial effectiveness 48.6 28
Tax burden 95 97.6
Government spending 75.6 74.7
Fiscal health 39 97.5
Business freedom 75.3 67.8
Labor freedom 75.1 47.7
Monetary freedom 74.8 79.2
Trade freedom 84.6 78.4
Investment freedom 65 70
Financial freedom 50 60

Economic freedom comparison by year

Brunei
Oman
1x
Year Economic freedom index
Brunei Oman
2026 67.5 68.5
2025 67 65.4
2024 65.9 62.9
2023 65.7 58.5
2022 64.8 56.6
2021 66.6 64.6
2020 66.6 63.6
2019 65.1 61
2018 64.2 61
2017 69.8 62.1
2016 67.3 67.1
2015 68.9 66.7
2014 69 67.4
2013 - 68.1
2012 - 67.9
2011 - 69.8
2010 - 67.7
2009 - 67
2008 - 67.3
2007 - 65.8
2006 - 63.7
2005 - 66.5
2004 - 66.9
2003 - 64.6
2002 - 64
2001 - 67.7
2000 - 64.1
1999 - 64.9
1998 - 64.9
1997 - 64.5
1996 - 65.4
1995 - 70.2

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/brunei/oman | CC BY

The Economic Freedom Index for Brunei is 67.5, ranking 55/197, compared to 68.5 for Oman, ranking 45/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Brunei Oman
Services, % of GDP
39%
2024
46%
2024
Industry, % of GDP
61.7%
2024
54.2%
2024
Agriculture, forestry, and fishing, % of GDP
1.17%
2024
2.6%
2024
GNI, Atlas method
$16.7B
2024
$103B
2024
GNI per capita, PPP
$92,750
2024
$39,340
2024
Total reserves including gold
$4.41B
2024
$18.3B
2024
Total reserves ranking
105/177
2024
64/177
2024
Net foreign direct investment
-$29.1M
2024
-$12.6B
2024
Net inflows of foreign direct investment
$29.1M
2024
$12.5B
2024
Net outflows of foreign direct investment
$0
2024
-$143M
2024
Gross capital formation, % of GDP
27.9%
2024
24.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/brunei/oman | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.