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Economy of Oman vs Qatar compared: GDP & Debt

Updated on by Georank

Oman has a GDP of $110B compared to $216B for Qatar, ranking 70/197 and 56/197 by economy size, respectively.

Oman has $39.2B in government debt (35.8% of GDP), compared to $89.2B (41.4% of GDP) in Qatar.

Oman vs Qatar GDP by year

Oman
Qatar
1x
Year GDP, current $
Oman Qatar
2025 $109,604,780,696 $215,559,615,385
2024 $107,137,198,700 $216,294,505,495
2023 $106,174,707,932 $213,002,809,341
2022 $109,852,795,839 $235,709,325,714
2021 $87,323,797,139 $179,732,009,560
2020 $75,909,492,848 $144,411,363,352
2019 $88,060,858,257 $176,371,267,692
2018 $91,505,851,756 $183,334,953,819
2017 $80,856,697,009 $161,099,122,225
2016 $75,128,738,622 $151,732,181,868
2015 $78,710,793,238 $161,739,955,577
2014 $92,699,089,727 $206,224,598,571
2013 $89,936,020,806 $198,727,642,967
2012 $87,408,842,653 $186,833,502,363
2011 $77,497,529,259 $167,775,274,725
2010 $64,993,498,049 $125,122,252,747
2009 $55,454,096,229 $97,798,351,648
2008 $69,804,681,404 $115,269,780,220
2007 $48,300,390,117 $79,711,813,187
2006 $42,577,633,290 $60,882,142,857
2005 $35,506,892,068 $44,530,494,505
2004 $28,378,933,680 $31,734,065,934
2003 $24,733,680,104 $23,533,791,209
2002 $23,065,539,662 $19,363,736,264
2001 $22,205,721,717 $17,538,461,538
2000 $22,259,557,867 $17,759,890,110
1999 $17,832,769,831 $12,393,131,868
1998 $16,044,213,264 $10,255,494,505
1997 $18,039,791,938 $11,297,802,198
1996 $17,402,080,624 $9,059,340,659
1995 $15,722,236,671 $8,137,912,088
1994 $14,715,214,564 $7,374,450,549
1993 $14,230,429,129 $7,156,593,407
1992 $14,183,615,085 $7,646,153,846
1991 $12,918,335,501 $6,883,516,484
1990 $13,310,273,082 $7,360,439,560
1989 $9,372,171,651 $6,487,912,088
1988 $8,386,215,865 $6,038,186,813
1987 $7,811,183,095 $5,446,428,571
1986 $7,324,167,369 $5,053,021,978
1985 $10,005,645,420 $6,153,296,703
1984 $8,821,443,151 $6,870,329,670
1983 $7,932,541,691 $6,484,890,110
1982 $7,554,719,456 $7,611,263,736
1981 $7,259,120,151 $8,672,527,473
1980 $5,981,760,278 $7,837,915,956
1979 $3,733,352,635 $5,632,962,997
1978 $2,740,301,390 $4,052,000,413
1977 $2,741,169,948 $3,617,564,638
1976 $2,560,220,035 $3,284,273,987
1975 $2,096,699,189 $2,512,773,166
1974 $1,645,917,776 $2,401,403,227
1973 $483,066,991 $793,885,560
1972 $366,883,548 $510,262,500
1971 $301,010,587 $387,703,106
1970 $256,319,795 $301,791,302
1969 $239,999,808 -
1968 $188,879,849 -
1967 $107,151,832 -
1966 $67,759,973 -
1965 $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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Oman vs Qatar by year

Oman
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $19,947 - $72,525 -
2024 $20,285 $41,740 $75,685 $126,046
2023 $21,028 $41,945 $80,196 $129,368
2022 $23,224 $42,616 $88,701 $122,921
2021 $19,403 $38,719 $71,752 $116,833
2020 $16,785 $35,163 $51,684 $82,149
2019 $19,180 $37,251 $66,841 $107,503
2018 $19,902 $37,780 $71,040 $110,033
2017 $17,820 $33,619 $63,280 $99,358
2016 $17,110 $33,334 $61,254 $89,935
2015 $18,808 $36,058 $68,985 $102,546
2014 $23,161 $44,236 $95,841 $148,389
2013 $23,458 $47,013 $103,697 $169,203
2012 $24,642 $49,989 $108,470 $180,939
2011 $25,188 $52,393 $103,262 $174,620
2010 $23,570 $55,667 $77,387 $151,646
2009 $20,656 $55,127 $60,786 $125,898
2008 $26,577 $52,841 $80,781 $126,015
2007 $18,793 $48,627 $65,954 $124,056
2006 $16,931 $46,091 $62,582 $127,181
2005 $14,435 $43,673 $53,950 $115,250
2004 $11,801 $42,142 $41,036 $110,958
2003 $10,464 $40,935 $31,602 $94,120
2002 $9,869 $41,511 $27,227 $93,177
2001 $9,612 $41,679 $25,871 $89,805
2000 $9,754 $39,443 $27,535 $88,849
1999 $7,915 $36,792 $20,234 $84,690
1998 $7,219 $36,666 $17,665 $84,486
1997 $8,235 $36,809 $20,523 $79,219
1996 $8,068 $34,661 $17,125 $62,331
1995 $7,414 $33,598 $15,823 $60,321
1994 $7,068 $31,925 $14,765 $59,415
1993 $7,039 $30,987 $14,770 $59,125
1992 $7,318 $29,773 $16,280 $60,387
1991 $6,977 $28,109 $15,133 $54,759
1990 $7,546 $26,904 $16,722 $55,659
1989 $5,591 - $15,243 -
1988 $5,279 - $14,682 -
1987 $5,204 - $13,719 -
1986 $5,182 - $13,213 -
1985 $7,549 - $16,815 -
1984 $7,070 - $19,749 -
1983 $6,714 - $19,669 -
1982 $6,759 - $24,431 -
1981 $6,866 - $29,543 -
1980 $5,974 - $28,407 -
1979 $3,934 - $21,777 -
1978 $3,044 - $16,757 -
1977 $3,205 - $16,058 -
1976 $3,143 - $15,710 -
1975 $2,692 - $13,014 -
1974 $2,203 - $13,540 -
1973 $670 - $4,905 -
1972 $524 - $3,483 -
1971 $442 - $2,952 -
1970 $387 - $2,594 -
1969 $372 - - -
1968 $300 - - -
1967 $174.7 - - -
1966 $113.2 - - -
1965 $108.1 - - -
1964 $108.1 - - -
1963 $106.8 - - -
1962 $102.3 - - -
1961 $84.5 - - -
1960 $83.4 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Oman's GDP per capita is $19,947, ranking 60/197, compared to $72,525 in Qatar, ranking 13/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Qatar ranks 5th at $126,046.

Economic indicators

Oman Qatar
Gross domestic product
$110B
2025
$216B
2025
GDP rank
70/197
2025
56/197
2025
GDP growth
2.4%
2024-2025
2.9%
2024-2025
GDP per capita
$19,947
2025
$72,525
2025
GDP per capita rank
60/197
2025
13/197
2025
GDP per capita, PPP
$41,740
2024
$126,046
2024
GDP per capita PPP rank
55/197
2024
5/197
2024
Government debt
$39.2B
2025
$89.2B
2025
Debt-to-GDP ratio
35.8%
2025
41.4%
2025
Government debt per person
$7,132
2025
$30,009
2025
Government debt per person rank
70/185
2025
24/185
2025
Average annual personal income after taxes
$19,851
2026
$37,042
2026
Market capitalization of domestic companies
$41.3B
2025
$177B
2025
Number of millionaires n/a
30,000
2026
Number of billionaires
2
2026
2
2026
Income share by richest 10% n/a
25.8%
2017
Income share by poorest 10% n/a
2.6%
2017
Government expenditure, % of GDP
28.9%
2025
27.1%
2025
Consumer prices inflation
1%
2024-2025
0.6%
2024-2025
Central bank interest rate
4.5%
2025
4.1%
2025
Unemployment rate
3.3%
2024
0.1%
2024
Population
5775345
3058826

Spending and national debt comparison by year

Oman
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Oman Qatar
Government spending Government debt Government spending Government debt
2025 28.9% 35.8% 27.1% 41.4%
2024 28.7% 35.5% 26% 41.3%
2023 27.5% 37.4% 26.7% 42.8%
2022 31.1% 41.7% 24.3% 42.6%
2021 36.5% 61.9% 29.4% 58.4%
2020 44.5% 67.9% 34.7% 72.6%
2019 38.8% 52.5% 32.5% 62.1%
2018 38.3% 44.7% 28.9% 52.2%
2017 39.4% 40.1% 34.7% 51.6%
2016 44.6% 29.3% 40.1% 46.7%
2015 44.5% 13.9% 38.6% 35.5%
2014 41.4% 4.04% 32.3% 24.9%
2013 39.3% 4.66% 28.3% 30.9%
2012 38.6% 4.59% 31% 32.1%
2011 34.5% 4.44% 28.5% 33.5%
2010 30.6% 5.46% 32% 30.4%
2009 33.4% 5.8% 36.4% 36%
2008 25.6% 3.2% 23.5% 11.4%
2007 30.7% 4.44% 29.5% 9.37%
2006 30.1% 7.56% 29.5% 13.9%
2005 30.6% 8.39% 29% 19.1%
2004 34.1% 14.5% 29.9% 30.1%
2003 34% 13% 28.5% 38.8%
2002 34.1% 15.9% 31.6% 47.7%
2001 33.3% 22.5% 32.1% 59.2%
2000 31.2% 21.7% 29.8% 51.6%
1999 34.2% 28.9% 42.4% 81.8%
1998 36.1% 30.9% 55.1% 76.6%
1997 32.1% 20.8% 47.6% 54.4%
1996 33.5% 21.2% 55.2% 57.8%
1995 38.2% 21.9% 52.2% 50.2%
1994 39.7% 23.6% 59.8% 54.8%
1993 40.1% 22.2% 62.8% 46.3%
1992 40.1% 23.1% 54.2% 19.9%
1991 37.4% 22.6% 57.5% 21.8%
1990 36.5% 17.8% 50% 12.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Oman's government spending was $31.7B, accounting for 28.9% of its GDP, while Qatar spent $58.4B, or 27.1% of GDP.

Debt-to-GDP ratio is 35.8% in Oman and 41.4% in Qatar, ranking 142/185 and 127/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Qatar
1x
Year Deficit/surplus, % of GDP
Oman Qatar
2025 1.04% -1%
2024 3.22% 0.71%
2023 6.72% 5.51%
2022 10.3% 10.4%
2021 -3.17% 0.24%
2020 -15.7% -2.13%
2019 -4.83% 1%
2018 -6.72% 2.26%
2017 -10.5% -6.82%
2016 -19.6% -9.2%
2015 -13.5% 18.4%
2014 -1.58% 13.4%
2013 2.78% 19.3%
2012 4.07% 8.55%
2011 8.24% 5.24%
2010 4.95% 4.6%
2009 -0.27% 14.1%
2008 14.7% 9.49%
2007 10.5% 10.3%
2006 12.2% 8.39%
2005 11.2% 9.8%
2004 5.43% 17.7%
2003 5.92% 6.71%
2002 5.31% 7.89%
2001 7.55% 4.48%
2000 12.2% 4.62%
1999 0.3% -4.35%
1998 -4.37% -7%
1997 4.77% -9.4%
1996 2.22% -8.73%
1995 -3.9% -5.78%
1994 -7.47% -11.8%
1993 -6.84% -9.53%
1992 -4.85% -2.74%
1991 0.12% -2.57%
1990 4.78% 3.23%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Oman's government surplus, the difference between spending and revenue, was $1.14B, equivalent to 1.04% of GDP. This compares to Qatar's deficit of $2.16B, or 1% of GDP.

Over the past 36 years, Oman recorded a fiscal deficit in 14 of those years, while Qatar ran a deficit in 13 years. On average, Oman posted an annual surplus equal to 0.98% of GDP, compared to surplus of 2.92% of GDP for Qatar.

Inflation comparison by year

Inflation
Oman

Qatar
1x
Year Consumer prices inflation
Oman Qatar
2025 1% 0.6%
2024 0.6% 1.2%
2023 1% 3.1%
2022 2.5% 5%
2021 1.7% 2.3%
2020 -0.4% -2.5%
2019 0.5% -0.9%
2018 0.7% 0.1%
2017 1.5% 0.6%
2016 0.9% 2.7%
2015 0.1% 0.9%
2014 1.2% 4.2%
2013 1.3% 3.1%
2012 2.9% 1.8%
2011 4.1% 2%
2010 3.3% -2.4%
2009 3.5% -4.9%
2008 12.6% 15.1%
2007 5.9% 13.7%
2006 3.2% 11.7%
2005 1.9% 9%
2004 0.8% 6.8%
2003 0.2% 2.3%
2002 -0.3% 0.2%
2001 -0.8% 1.7%
2000 -1.2% 1.6%
1999 0.5% 2.2%
1998 0.4% 2.9%
1997 -0.4% 2.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Oman has recorded an average annual inflation rate of 1.7%, compared with 2.99% in Qatar. In 2025, inflation was 1% in Oman and 0.6% in Qatar.

Top exports between countries

Oman
Export category Export value
Raw materials & minerals $171M
Animal & marine products $124M
Machinery & equipment $116M
Chemicals & pharma $57.9M
Processed food, beverages & tobacco $45.3M
Metals $28M
Miscellaneous $12.1M
Raw agricultural goods $11M
Textiles & consumer goods $10.1M
Wood & paper products $5.07M
Qatar
Export category Export value
Raw materials & minerals $421M
Chemicals & pharma $270M
Metals $80.2M
Machinery & equipment $48.2M
Textiles & consumer goods $3.52M
Wood & paper products $2.82M
Precious metals & jewellery $1.61M
Processed food, beverages & tobacco $1.32M
Animal & marine products $823K
Raw agricultural goods $524K

Balance of trade

Oman Qatar
Current account balance
$3.07B
2024
$31.9B
2025
Current account balance ranking
37/190
2024
17/190
2025
Current account balance, % of GDP
+2.86%
2024
+14.8%
2025
Goods imports
$39.5B
2024
$34.3B
2025
Goods exports
$65.2B
2024
$90B
2025
Service imports
$12.8B
2024
$31.3B
2025
Service exports
$5.64B
2024
$24.4B
2025
Imports of goods and services, % of GDP
48.8%
2024
31.6%
2022
Exports of goods and services, % of GDP
66.1%
2024
68.6%
2022

Economic freedom indices

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

Oman Qatar
Economic freedom 68.5 70.2
Economic freedom ranking 45/197 37/197
Property rights 71.8 66.2
Government integrity 49.4 53.5
Judicial effectiveness 28 41.5
Tax burden 97.6 99.9
Government spending 74.7 79.9
Fiscal health 97.5 96.6
Business freedom 67.8 68
Labor freedom 47.7 58.5
Monetary freedom 79.2 76
Trade freedom 78.4 81.8
Investment freedom 70 60
Financial freedom 60 60

Economic freedom comparison by year

Oman
Qatar
1x
Year Economic freedom index
Oman Qatar
2026 68.5 70.2
2025 65.4 70.2
2024 62.9 68.8
2023 58.5 68.6
2022 56.6 67.7
2021 64.6 72
2020 63.6 72.3
2019 61 72.6
2018 61 72.6
2017 62.1 73.1
2016 67.1 70.7
2015 66.7 70.8
2014 67.4 71.2
2013 68.1 71.3
2012 67.9 71.3
2011 69.8 70.5
2010 67.7 69
2009 67 65.8
2008 67.3 62.2
2007 65.8 62.9
2006 63.7 62.4
2005 66.5 63.5
2004 66.9 66.5
2003 64.6 65.9
2002 64 61.9
2001 67.7 60
2000 64.1 62
1999 64.9 62
1998 64.9 -
1997 64.5 -
1996 65.4 -
1995 70.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Qatar
Services, % of GDP
47.2%
2025
47%
2025
Industry, % of GDP
52.7%
2025
57%
2025
Agriculture, forestry, and fishing, % of GDP
2.81%
2025
0.31%
2025
GNI, Atlas method
$103B
2024
$221B
2025
GNI per capita, PPP
$39,390
2024
$126,290
2025
Total reserves including gold
$18.3B
2024
$55.8B
2025
Total reserves ranking
68/177
2024
45/177
2025
Net foreign direct investment
-$12.6B
2024
$311M
2025
Net inflows of foreign direct investment
$12.5B
2024
$460M
2024
Net outflows of foreign direct investment
-$143M
2024
$1.56B
2024
Gross capital formation, % of GDP
24.8%
2024
30.6%
2022

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.