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Economy of Oman vs Saint Vincent compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $1.16B for Saint Vincent, ranking 70/197 and 186/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $1.07B (92.7% of GDP) in Saint Vincent.

Oman vs Saint Vincent GDP by year

Oman
Saint Vincent
1x
Year GDP, current $
Oman Saint Vincent
2024 $107,137,198,769 $1,157,207,407
2023 $106,174,708,037 $1,072,237,037
2022 $109,852,795,839 $989,188,889
2021 $87,323,797,139 $888,677,778
2020 $75,909,492,848 $864,566,667
2019 $88,060,858,257 $910,481,481
2018 $91,505,851,756 $884,329,630
2017 $80,856,697,009 $844,040,741
2016 $75,128,738,622 $814,303,704
2015 $78,710,793,238 $786,555,556
2014 $92,699,089,727 $770,900,000
2013 $89,936,020,806 $764,781,259
2012 $87,408,842,653 $730,032,593
2011 $77,497,529,259 $713,796,370
2010 $64,993,498,049 $720,447,889
2009 $55,454,096,229 $714,300,259
2008 $69,804,681,404 $732,663,259
2007 $48,300,390,117 $713,596,667
2006 $42,577,633,290 $643,501,148
2005 $35,506,892,068 $579,948,926
2004 $28,378,933,680 $549,900,185
2003 $24,733,680,104 $509,090,889
2002 $23,065,539,662 $487,763,852
2001 $22,205,721,717 $462,072,333
2000 $22,259,557,867 $427,946,037
1999 $17,832,769,831 $390,718,519
1998 $16,044,213,264 $373,618,519
1997 $18,039,791,938 $347,770,370
1996 $17,402,080,624 $331,488,889
1995 $15,722,236,671 $316,007,407
1994 $14,715,214,564 $289,437,037
1993 $14,230,429,129 $286,307,407
1992 $14,183,615,085 $277,955,556
1991 $12,918,335,501 $254,829,630
1990 $13,310,273,082 $240,366,667
1989 $9,372,171,651 $214,745,002
1988 $8,386,215,865 $200,726,713
1987 $7,811,183,095 $175,580,647
1986 $7,324,167,369 $160,846,657
1985 $10,005,645,420 $145,641,705
1984 $8,821,443,151 $135,024,988
1983 $7,932,541,691 $122,255,350
1982 $7,554,719,456 $113,759,203
1981 $7,259,120,151 $102,086,539
1980 $5,981,760,278 $82,340,340
1979 $3,733,352,635 $71,096,360
1978 $2,740,301,390 $60,844,771
1977 $2,741,169,948 $49,353,162
1976 $2,560,220,035 $32,792,845
1975 $2,096,699,189 $33,237,226
1974 $1,645,917,776 $32,923,703
1973 $483,066,991 $30,165,081
1972 $366,883,548 $27,585,805
1971 $301,010,587 $20,051,922
1970 $256,319,795 $18,450,000
1969 $239,999,808 $16,650,000
1968 $188,879,849 $15,350,000
1967 $107,151,832 $15,835,106
1966 $67,759,973 $16,099,960
1965 $63,279,975 $15,108,296
1964 $61,872,526 $14,758,296
1963 $59,912,763 $13,708,299
1962 $56,273,202 $14,524,964
1961 $45,634,487 $13,999,965
1960 $44,234,656 $13,066,634

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

GeoRank.org/economy/oman/saint-vincent | CC BY

GDP per capita in Oman vs Saint Vincent by year

Oman
GDP per capita

GDP per capita, PPP
Saint Vincent
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Saint Vincent
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 $11,501 $21,272
2023 $21,028 $41,945 $10,582 $19,820
2022 $23,224 $42,616 $9,694 $18,035
2021 $19,403 $38,719 $8,641 $16,201
2020 $16,785 $35,163 $8,351 $15,337
2019 $19,180 $37,251 $8,741 $15,340
2018 $19,902 $37,780 $8,428 $14,690
2017 $17,820 $33,619 $7,988 $13,575
2016 $17,110 $33,334 $7,657 $13,493
2015 $18,808 $36,058 $7,354 $12,379
2014 $23,161 $44,236 $7,169 $12,136
2013 $23,458 $47,013 $7,072 $11,625
2012 $24,642 $49,989 $6,714 $10,989
2011 $25,188 $52,393 $6,528 $10,774
2010 $23,570 $55,667 $6,552 $10,561
2009 $20,656 $55,127 $6,464 $10,869
2008 $26,577 $52,841 $6,599 $10,902
2007 $18,793 $48,627 $6,398 $10,604
2006 $16,931 $46,091 $5,745 $9,949
2005 $14,435 $43,673 $5,157 $8,986
2004 $11,801 $42,142 $4,873 $8,472
2003 $10,464 $40,935 $4,500 $7,903
2002 $9,869 $41,511 $4,303 $7,250
2001 $9,612 $41,679 $4,071 $6,768
2000 $9,754 $39,443 $3,769 $6,503
1999 $7,915 $36,792 $3,447 $6,266
1998 $7,219 $36,666 $3,301 $6,026
1997 $8,235 $36,809 $3,074 $5,726
1996 $8,068 $34,661 $2,930 $5,440
1995 $7,414 $33,598 $2,795 $5,277
1994 $7,068 $31,925 $2,563 $4,802
1993 $7,039 $30,987 $2,540 $4,769
1992 $7,318 $29,773 $2,471 $4,477
1991 $6,977 $28,109 $2,271 $4,126
1990 $7,546 $26,904 $2,150 $3,960
1989 $5,591 - $1,930 -
1988 $5,279 - $1,814 -
1987 $5,204 - $1,596 -
1986 $5,182 - $1,472 -
1985 $7,549 - $1,342 -
1984 $7,070 - $1,254 -
1983 $6,714 - $1,144 -
1982 $6,759 - $1,074 -
1981 $6,866 - $972 -
1980 $5,974 - $790 -
1979 $3,934 - $687 -
1978 $3,044 - $592 -
1977 $3,205 - $484 -
1976 $3,143 - $324 -
1975 $2,692 - $331 -
1974 $2,203 - $331 -
1973 $670 - $306 -
1972 $524 - $282.1 -
1971 $442 - $207 -
1970 $387 - $192.3 -
1969 $372 - $175.2 -
1968 $300 - $163.1 -
1967 $174.7 - $170 -
1966 $113.2 - $174.9 -
1965 $108.1 - $166.2 -
1964 $108.1 - $164.4 -
1963 $106.8 - $154.9 -
1962 $102.3 - $166.5 -
1961 $84.5 - $163 -
1960 $83.4 - $154.8 -

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

GeoRank.org/economy/oman/saint-vincent | CC BY

Oman's GDP per capita is $20,285, ranking 57/197, compared to $11,501 in Saint Vincent, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Saint Vincent ranks 92nd at $21,272.

Economic indicators

Oman Saint Vincent
Gross domestic product
$107B
2024
$1.16B
2024
GDP rank
70/197
2024
186/197
2024
GDP growth
1.63%
2023-2024
4.06%
2023-2024
GDP per capita
$20,285
2024
$11,501
2024
GDP per capita rank
57/197
2024
81/197
2024
GDP per capita, PPP
$41,740
2024
$21,272
2024
GDP per capita PPP rank
55/197
2024
92/197
2024
Government debt
$38B
2024
$1.07B
2024
Debt-to-GDP ratio
35.5%
2024
92.7%
2024
Government debt per person
$7,204
2024
$10,659
2024
Government debt per person rank
67/185
2024
56/185
2024
Average annual personal income after taxes
$20,894
2026
$12,573
2026
Market capitalization of domestic companies
$22.3B
2022
n/a
Number of billionaires
2
2025
n/a
Government expenditure, % of GDP
28.7%
2024
39.1%
2024
Consumer prices inflation
0.6%
2023-2024
3.63%
2023-2024
Central bank interest rate
4.5%
2025
n/a
Unemployment rate
3.3%
2024
18.8%
2008
Population
5761708
99237

Spending and national debt comparison by year

Oman
Spending

Debt
Saint Vincent
Spending

Debt
1x
Year % of GDP
Oman Saint Vincent
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 39.1% 92.7%
2023 27.5% 37.5% 38.9% 89.4%
2022 30.9% 41.7% 36.6% 86.3%
2021 36.5% 61.9% 37.2% 88.4%
2020 44.5% 67.9% 32.9% 80.2%
2019 38.8% 52.5% 29.2% 68.2%
2018 38.3% 44.7% 26.3% 69.4%
2017 39.4% 40.1% 26.6% 69%
2016 44.6% 29.3% 27.1% 79.4%
2015 44.5% 13.9% 27.6% 75.1%
2014 41.4% 4.04% 30.4% 75%
2013 39.3% 4.66% 29.4% 69.9%
2012 38.6% 4.59% 26.5% 68.1%
2011 34.5% 4.44% 29.4% 64%
2010 30.6% 5.46% 31.1% 61.1%
2009 33.4% 5.8% 31% 57.2%
2008 25.6% 3.2% 28.4% 50.3%
2007 30.7% 4.44% 27.1% 48.5%
2006 30.1% 7.56% 26.1% 44.7%
2005 30.6% 8.39% 26.7% 50.5%
2004 34.1% 14.5% 24.9% 58.6%
2003 34% 13% 26% 55.3%
2002 34.1% 15.9% 25.7% 53.2%
2001 33.3% 22.5% 24.4% 52%
2000 31.2% 21.7% 23.8% 54.3%
1999 34.2% 28.9% 25.2% 52.9%
1998 36.1% 30.9% 25.2% 39.5%
1997 32.1% 20.8% 26% 38.8%
1996 33.5% 21.2% 20.9% 40.7%
1995 38.2% 21.9% 19.9% 46.8%
1994 39.7% 23.6% 22.4% 52.8%
1993 40.1% 22.2% 22.3% 48.1%
1992 40.1% 23.1% 25.4% 49.6%
1991 37.4% 22.6% 25.5% 52.1%
1990 36.5% 17.8% 23.1% 53.9%
1989 - - 27.6% -
1988 - - 24.8% -
1987 - - 23.7% -
1986 - - 22.3% -
1985 - - 21.4% -
1984 - - 23.1% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1984–1989, retrieved 2026-02-20).

GeoRank.org/economy/oman/saint-vincent | CC BY

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Saint Vincent spent $453M, or 39.1% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 92.7% in Saint Vincent, ranking 145/185 and 29/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Saint Vincent
1x
Year Deficit/surplus, % of GDP
Oman Saint Vincent
2024 3.31% -12.9%
2023 6.87% -12%
2022 10.5% -9.35%
2021 -3.17% -7.19%
2020 -15.7% -5.92%
2019 -4.83% -3.45%
2018 -6.72% -1.65%
2017 -10.5% -1.56%
2016 -19.6% 0.04%
2015 -13.5% -2.01%
2014 -1.58% -2.82%
2013 2.78% -5.81%
2012 4.07% -1.81%
2011 8.24% -3.5%
2010 4.95% -3.7%
2009 -0.27% -2.85%
2008 14.7% -1.3%
2007 10.5% -3.07%
2006 12.2% -3.13%
2005 11.2% -4.3%
2004 5.43% -2.71%
2003 5.92% -2.51%
2002 5.31% -2%
2001 7.55% -1.6%
2000 12.2% -0.82%
1999 0.3% -1.93%
1998 -4.37% -1.81%
1997 4.77% -2.77%
1996 2.22% 1.57%
1995 -3.9% 1.08%
1994 -7.47% 0.12%
1993 -6.84% -1.46%
1992 -4.85% -3.25%
1991 0.12% -0.47%
1990 4.78% 1.69%
1989 - -1.92%
1988 - 0.59%
1987 - 1.1%
1986 - 2.32%
1985 - 4.23%
1984 - 2.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1984–1989, retrieved 2026-02-20).

GeoRank.org/economy/oman/saint-vincent | 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 Saint Vincent's deficit of $149M, or 12.9% of GDP.

Over the past 35 years, Oman recorded a fiscal deficit in 14 of those years, while Saint Vincent ran a deficit in 30 years. On average, Oman posted an annual surplus equal to 0.99% of GDP, compared to deficit of 3% of GDP for Saint Vincent.

Inflation comparison by year

Inflation
Oman

Saint Vincent
1x
Year Consumer prices inflation
Oman Saint Vincent
2024 0.6% 3.63%
2023 1% 4.56%
2022 2.5% 5.66%
2021 1.7% 1.57%
2020 -0.4% -0.63%
2019 0.5% 0.91%
2018 0.7% 2.32%
2017 1.5% 2.15%
2016 0.9% -0.15%
2015 0.1% -1.73%
2014 1.2% 0.19%
2013 1.3% 0.81%
2012 2.9% 2.6%
2011 4.1% 3.19%
2010 3.3% 0.75%
2009 3.5% 0.42%
2008 12.6% 10.1%
2007 5.9% 7.24%
2006 3.2% 2.74%
2005 1.9% 3.73%
2004 0.8% 2.96%
2003 0.2% 0.21%
2002 -0.3% 1.86%
2001 -0.8% 0.9%
2000 -1.2% 0.17%
1999 0.5% 1.01%
1998 0.4% 2.14%
1997 -0.4% 0.44%

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/oman/saint-vincent | CC BY

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 2.13% in Saint Vincent. In 2024, inflation was 0.6% in Oman and 3.63% in Saint Vincent.

Balance of trade

Oman Saint Vincent
Current account balance
$3.07B
2024
-$157M
2024
Current account balance ranking
39/190
2024
93/190
2024
Current account balance, % of GDP
+2.86%
2024
-13.5%
2024
Goods imports
$39.5B
2024
$445M
2024
Goods exports
$65.2B
2024
$59.2M
2024
Service imports
$12.8B
2024
$196M
2024
Service exports
$5.64B
2024
$366M
2024
Imports of goods and services, % of GDP
48.8%
2024
n/a
Exports of goods and services, % of GDP
66.1%
2024
15.3%
2025

Economic freedom indices

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

Oman Saint Vincent
Economic freedom 68.5 60
Economic freedom ranking 45/197 98/197
Property rights 71.8 65.2
Government integrity 49.4 63.3
Judicial effectiveness 28 76.9
Tax burden 97.6 82
Government spending 74.7 56.2
Fiscal health 97.5 2.8
Business freedom 67.8 67.3
Labor freedom 47.7 60.1
Monetary freedom 79.2 77.3
Trade freedom 78.4 58.8
Investment freedom 70 70
Financial freedom 60 40

Economic freedom comparison by year

Oman
Saint Vincent
1x
Year Economic freedom index
Oman Saint Vincent
2026 68.5 60
2025 65.4 60.1
2024 62.9 59.8
2023 58.5 63.5
2022 56.6 65.7
2021 64.6 66.3
2020 63.6 66.8
2019 61 65.8
2018 61 67.7
2017 62.1 65.2
2016 67.1 68.8
2015 66.7 68
2014 67.4 67
2013 68.1 66.7
2012 67.9 66.5
2011 69.8 66.9
2010 67.7 66.9
2009 67 64.3
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/oman/saint-vincent | CC BY

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 60 for Saint Vincent, ranking 98/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Saint Vincent
Services, % of GDP
46%
2024
66.4%
2024
Industry, % of GDP
54.2%
2024
15.4%
2024
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
3.55%
2024
GNI, Atlas method
$103B
2024
$1.11B
2024
GNI per capita, PPP
$39,340
2024
$21,150
2024
Total reserves including gold
$18.3B
2024
$317M
2024
Total reserves ranking
64/177
2024
167/177
2024
Net foreign direct investment
-$12.6B
2024
-$74M
2024
Net inflows of foreign direct investment
$12.5B
2024
$139M
2024
Net outflows of foreign direct investment
-$143M
2024
-$1.92M
2024
Servicing debt to the IMF, % of GNI n/a
3.84%
2024
Gross capital formation, % of GDP
24.8%
2024
n/a

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).

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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. International Monetary Fund (IMF) | Public Finances in Modern History (1984–1989, retrieved 2026-02-20)
  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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.