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Economy of Oman vs Romania compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $383B for Romania, ranking 70/197 and 42/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $220B (57.4% of GDP) in Romania.

Oman vs Romania GDP by year

Oman
Romania
1x
Year GDP, current $
Oman Romania
2024 $107,137,198,769 $382,564,217,989
2023 $106,174,708,037 $347,757,995,759
2022 $109,852,795,839 $295,319,437,557
2021 $87,323,797,139 $285,071,280,114
2020 $75,909,492,848 $250,625,048,304
2019 $88,060,858,257 $250,080,428,512
2018 $91,505,851,756 $241,791,427,224
2017 $80,856,697,009 $210,147,385,855
2016 $75,128,738,622 $185,290,759,249
2015 $78,710,793,238 $177,885,131,240
2014 $92,699,089,727 $199,722,319,676
2013 $89,936,020,806 $189,798,603,751
2012 $87,408,842,653 $179,117,323,107
2011 $77,497,529,259 $192,623,977,894
2010 $64,993,498,049 $170,064,350,672
2009 $55,454,096,229 $174,110,532,659
2008 $69,804,681,404 $214,315,932,061
2007 $48,300,390,117 $174,588,782,939
2006 $42,577,633,290 $122,023,735,993
2005 $35,506,892,068 $98,454,380,120
2004 $28,378,933,680 $74,973,656,852
2003 $24,733,680,104 $57,806,384,143
2002 $23,065,539,662 $46,065,502,703
2001 $22,205,721,717 $40,395,116,581
2000 $22,259,557,867 $37,253,739,511
1999 $17,832,769,831 $35,953,156,754
1998 $16,044,213,264 $41,696,091,974
1997 $18,039,791,938 $35,575,214,078
1996 $17,402,080,624 $36,937,074,278
1995 $15,722,236,671 $37,430,162,103
1994 $14,715,214,564 $30,072,805,104
1993 $14,230,429,129 $26,361,160,450
1992 $14,183,615,085 $25,121,666,667
1991 $12,918,335,501 $28,850,634,900
1990 $13,310,273,082 $38,247,882,300
1989 $9,372,171,651 $41,450,777,202
1988 $8,386,215,865 $40,424,528,302
1987 $7,811,183,095 $38,067,567,568
1986 $7,324,167,369 -
1985 $10,005,645,420 -
1984 $8,821,443,151 -
1983 $7,932,541,691 -
1982 $7,554,719,456 -
1981 $7,259,120,151 -
1980 $5,981,760,278 -
1979 $3,733,352,635 -
1978 $2,740,301,390 -
1977 $2,741,169,948 -
1976 $2,560,220,035 -
1975 $2,096,699,189 -
1974 $1,645,917,776 -
1973 $483,066,991 -
1972 $366,883,548 -
1971 $301,010,587 -
1970 $256,319,795 -
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Oman vs Romania by year

Oman
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 $20,080 $49,077
2023 $21,028 $41,945 $18,244 $45,982
2022 $23,224 $42,616 $15,504 $41,979
2021 $19,403 $38,719 $14,908 $37,534
2020 $16,785 $35,163 $13,009 $34,194
2019 $19,180 $37,251 $12,910 $33,425
2018 $19,902 $37,780 $12,416 $29,383
2017 $17,820 $33,619 $10,728 $26,943
2016 $17,110 $33,334 $9,405 $23,905
2015 $18,808 $36,058 $8,977 $21,625
2014 $23,161 $44,236 $10,032 $20,633
2013 $23,458 $47,013 $9,498 $19,678
2012 $24,642 $49,989 $8,930 $19,808
2011 $25,188 $52,393 $9,561 $18,804
2010 $23,570 $55,667 $8,400 $17,355
2009 $20,656 $55,127 $8,548 $16,641
2008 $26,577 $52,841 $10,435 $16,782
2007 $18,793 $48,627 $8,360 $13,703
2006 $16,931 $46,091 $5,758 $11,554
2005 $14,435 $43,673 $4,618 $9,602
2004 $11,801 $42,142 $3,495 $8,989
2003 $10,464 $40,935 $2,679 $7,559
2002 $9,869 $41,511 $2,120 $7,162
2001 $9,612 $41,679 $1,825 $6,520
2000 $9,754 $39,443 $1,660 $5,850
1999 $7,915 $36,792 $1,600 $5,596
1998 $7,219 $36,666 $1,853 $5,545
1997 $8,235 $36,809 $1,577 $5,564
1996 $8,068 $34,661 $1,633 $5,746
1995 $7,414 $33,598 $1,650 $5,429
1994 $7,068 $31,925 $1,323 $4,995
1993 $7,039 $30,987 $1,158 $4,699
1992 $7,318 $29,773 $1,102 $4,515
1991 $6,977 $28,109 $1,254 $4,795
1990 $7,546 $26,904 $1,648 $5,280
1989 $5,591 - $1,790 -
1988 $5,279 - $1,753 -
1987 $5,204 - $1,659 -
1986 $5,182 - - -
1985 $7,549 - - -
1984 $7,070 - - -
1983 $6,714 - - -
1982 $6,759 - - -
1981 $6,866 - - -
1980 $5,974 - - -
1979 $3,934 - - -
1978 $3,044 - - -
1977 $3,205 - - -
1976 $3,143 - - -
1975 $2,692 - - -
1974 $2,203 - - -
1973 $670 - - -
1972 $524 - - -
1971 $442 - - -
1970 $387 - - -
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 (1960–2024, retrieved 2026-04-06).

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

Oman's GDP per capita is $20,285, ranking 57/197, compared to $20,080 in Romania, ranking 58/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Romania ranks 47th at $49,077.

Economic indicators

Oman Romania
Gross domestic product
$107B
2024
$383B
2024
GDP rank
70/197
2024
42/197
2024
GDP growth
1.63%
2023-2024
0.92%
2023-2024
GDP per capita
$20,285
2024
$20,080
2024
GDP per capita rank
57/197
2024
58/197
2024
GDP per capita, PPP
$41,740
2024
$49,077
2024
GDP per capita PPP rank
55/197
2024
47/197
2024
Government debt
$38B
2024
$220B
2024
Debt-to-GDP ratio
35.5%
2024
57.4%
2024
Government debt per person
$7,204
2024
$11,533
2024
Government debt per person rank
67/185
2024
48/185
2024
Average annual personal income after taxes
$20,894
2026
$13,912
2026
Market capitalization of domestic companies
$22.3B
2022
$47.4B
2024
Number of billionaires
2
2025
6
2025
Income share by richest 10% n/a
21.8%
2023
Income share by poorest 10% n/a
2.4%
2023
Government expenditure, % of GDP
28.7%
2024
39.9%
2024
Consumer prices inflation
0.6%
2023-2024
5.6%
2023-2024
Central bank interest rate
4.5%
2025
6.5%
2024
Unemployment rate
3.3%
2024
5.43%
2024
Population
5761708
18839108

Spending and national debt comparison by year

Oman
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Oman Romania
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 39.9% 57.4%
2023 27.5% 37.5% 36.6% 52.1%
2022 30.9% 41.7% 37.4% 51.7%
2021 36.5% 61.9% 37% 51.5%
2020 44.5% 67.9% 38.1% 49.3%
2019 38.8% 52.5% 33.2% 36.5%
2018 38.3% 44.7% 31.7% 36.2%
2017 39.4% 40.1% 31% 37.1%
2016 44.6% 29.3% 31.8% 39.5%
2015 44.5% 13.9% 34.2% 39.4%
2014 41.4% 4.04% 33.8% 40.5%
2013 39.3% 4.66% 34.2% 39.3%
2012 38.6% 4.59% 33.5% 36.2%
2011 34.5% 4.44% 35% 32.6%
2010 30.6% 5.46% 37.4% 30.2%
2009 33.4% 5.8% 36.3% 22.5%
2008 25.6% 3.2% 35.3% 13%
2007 30.7% 4.44% 34.6% 12.4%
2006 30.1% 7.56% 33.9% 12.7%
2005 30.6% 8.39% 32.3% 17.8%
2004 34.1% 14.5% 33.7% 21.3%
2003 34% 13% 31.8% 24.9%
2002 34.1% 15.9% 32.1% 27.4%
2001 33.3% 22.5% 33.2% 27.4%
2000 31.2% 21.7% 35% 29.6%
1999 34.2% 28.9% 35.1% 21.7%
1998 36.1% 30.9% 34.7% 16.5%
1997 32.1% 20.8% 33.5% 15%
1996 33.5% 21.2% 33.5% 11%
1995 38.2% 21.9% 34.4% 6.91%
1994 39.7% 23.6% 33.1% -
1993 40.1% 22.2% 33.5% -
1992 40.1% 23.1% 41.5% -
1991 37.4% 22.6% 38.3% -
1990 36.5% 17.8% 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20).

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

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Romania spent $153B, or 39.9% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 57.4% in Romania, ranking 145/185 and 87/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Romania
1x
Year Deficit/surplus, % of GDP
Oman Romania
2024 3.31% -8.68%
2023 6.87% -5.61%
2022 10.5% -5.83%
2021 -3.17% -6.7%
2020 -15.7% -9.54%
2019 -4.83% -4.55%
2018 -6.72% -2.74%
2017 -10.5% -2.86%
2016 -19.6% -2.5%
2015 -13.5% -1.35%
2014 -1.58% -1.76%
2013 2.78% -2.44%
2012 4.07% -2.39%
2011 8.24% -4.14%
2010 4.95% -6.22%
2009 -0.27% -6.86%
2008 14.7% -4.6%
2007 10.5% -3.05%
2006 12.2% -1.36%
2005 11.2% -0.69%
2004 5.43% -3.39%
2003 5.92% -2.29%
2002 5.31% -2.59%
2001 7.55% -3.2%
2000 12.2% -3.99%
1999 0.3% -3.58%
1998 -4.37% -5.33%
1997 4.77% -5.19%
1996 2.22% -4.74%
1995 -3.9% -3.32%
1994 -7.47% -2.2%
1993 -6.84% -0.35%
1992 -4.85% -4.55%
1991 0.12% 3.23%
1990 4.78% 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

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

In 2024, Oman's government surplus, the difference between spending and revenue, was $3.54B, equivalent to 3.31% of GDP. This compares to Romania's deficit of $33.2B, or 8.68% of GDP.

Over the past 35 years, Oman recorded a fiscal deficit in 14 of those years, while Romania ran a deficit in 33 years. On average, Oman posted an annual surplus equal to 0.99% of GDP, compared to deficit of 3.55% of GDP for Romania.

Inflation comparison by year

Inflation
Oman

Romania
1x
Year Consumer prices inflation
Oman Romania
2024 0.6% 5.6%
2023 1% 10.4%
2022 2.5% 13.8%
2021 1.7% 5%
2020 -0.4% 2.6%
2019 0.5% 3.8%
2018 0.7% 4.6%
2017 1.5% 1.3%
2016 0.9% -1.6%
2015 0.1% -0.6%
2014 1.2% 1.1%
2013 1.3% 4%
2012 2.9% 3.3%
2011 4.1% 5.8%
2010 3.3% 6.1%
2009 3.5% 5.6%
2008 12.6% 7.8%
2007 5.9% 4.8%
2006 3.2% 6.6%
2005 1.9% 9%
2004 0.8% 11.9%
2003 0.2% 15.4%
2002 -0.3% 22.5%
2001 -0.8% 34.5%
2000 -1.2% 45.7%
1999 0.5% 45.8%
1998 0.4% 59.1%
1997 -0.4% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 17.5% in Romania. In 2024, inflation was 0.6% in Oman and 5.6% in Romania.

Top exports between countries

Oman
Export category Export value
Metals $24.7M
Machinery & equipment $5.02M
Chemicals & pharma $3.4M
Raw materials & minerals $492K
Animal & marine products $83K
Miscellaneous $1K
Raw agricultural goods $1K
Textiles & consumer goods $1K
Romania
Export category Export value
Machinery & equipment $17.7M
Raw agricultural goods $12.2M
Wood & paper products $5.16M
Metals $2.99M
Processed food, beverages & tobacco $2.54M
Raw materials & minerals $497K
Chemicals & pharma $464K
Textiles & consumer goods $416K
Animal & marine products $332K
Miscellaneous $135K

Balance of trade

Oman Romania
Current account balance
$3.07B
2024
-$31.2B
2024
Current account balance ranking
39/190
2024
185/190
2024
Current account balance, % of GDP
+2.86%
2024
-8.16%
2024
Goods imports
$39.5B
2024
$129B
2024
Goods exports
$65.2B
2024
$93.3B
2024
Service imports
$12.8B
2024
$30.2B
2024
Service exports
$5.64B
2024
$42.9B
2024
Imports of goods and services, % of GDP
48.8%
2024
41.6%
2024
Exports of goods and services, % of GDP
66.1%
2024
35.6%
2024

Economic freedom indices

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

Oman Romania
Economic freedom 68.5 65.4
Economic freedom ranking 45/197 64/197
Property rights 71.8 81
Government integrity 49.4 50
Judicial effectiveness 28 67
Tax burden 97.6 89.1
Government spending 74.7 56.7
Fiscal health 97.5 21.4
Business freedom 67.8 74.4
Labor freedom 47.7 63.6
Monetary freedom 79.2 72.7
Trade freedom 78.4 79.4
Investment freedom 70 70
Financial freedom 60 60

Economic freedom comparison by year

Oman
Romania
1x
Year Economic freedom index
Oman Romania
2026 68.5 65.4
2025 65.4 66.5
2024 62.9 64.4
2023 58.5 64.5
2022 56.6 67.1
2021 64.6 69.5
2020 63.6 69.7
2019 61 68.6
2018 61 69.4
2017 62.1 69.7
2016 67.1 65.6
2015 66.7 66.6
2014 67.4 65.5
2013 68.1 65.1
2012 67.9 64.4
2011 69.8 64.7
2010 67.7 64.2
2009 67 63.2
2008 67.3 61.7
2007 65.8 61.2
2006 63.7 58.2
2005 66.5 52.1
2004 66.9 50
2003 64.6 50.6
2002 64 48.7
2001 67.7 50
2000 64.1 52.1
1999 64.9 50.1
1998 64.9 54.4
1997 64.5 50.8
1996 65.4 46.2
1995 70.2 42.9

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

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

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Romania
Services, % of GDP
46%
2024
62.6%
2024
Industry, % of GDP
54.2%
2024
25.3%
2024
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
2.81%
2024
GNI, Atlas method
$103B
2024
$335B
2024
GNI per capita, PPP
$39,340
2024
$47,920
2024
Total reserves including gold
$18.3B
2024
$73.4B
2024
Total reserves ranking
64/177
2024
35/177
2024
Net foreign direct investment
-$12.6B
2024
-$5.17B
2024
Net inflows of foreign direct investment
$12.5B
2024
$7.16B
2024
Net outflows of foreign direct investment
-$143M
2024
$1.99B
2024
Poverty at national poverty lines n/a
19%
2023
Gross capital formation, % of GDP
24.8%
2024
25%
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/oman/romania | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.