Skip to content

Economy of Oman vs Saudi Arabia compared: GDP & Debt

Updated on by Georank

Oman has a GDP of $110B compared to $1.28T for Saudi Arabia, ranking 70/197 and 19/197 by economy size, respectively.

Oman has $39.2B in government debt (35.8% of GDP), compared to $405B (31.7% of GDP) in Saudi Arabia.

Oman vs Saudi Arabia GDP by year

Oman
Saudi Arabia
1x
Year GDP, current $
Oman Saudi Arabia
2025 $109,604,780,696 $1,276,942,933,333
2024 $107,137,198,700 $1,254,140,800,000
2023 $106,174,707,932 $1,218,584,800,000
2022 $109,852,795,839 $1,239,075,200,000
2021 $87,323,797,139 $982,661,066,667
2020 $75,909,492,848 $767,951,200,000
2019 $88,060,858,257 $888,890,133,333
2018 $91,505,851,756 $886,564,800,000
2017 $80,856,697,009 $741,266,133,333
2016 $75,128,738,622 $689,279,466,667
2015 $78,710,793,238 $693,414,400,000
2014 $92,699,089,727 $787,153,066,667
2013 $89,936,020,806 $769,755,733,333
2012 $87,408,842,653 $751,921,333,333
2011 $77,497,529,259 $680,660,800,000
2010 $64,993,498,049 $528,207,466,667
2009 $55,454,096,229 $429,097,866,667
2008 $69,804,681,404 $519,796,800,000
2007 $48,300,390,117 $415,964,509,673
2006 $42,577,633,290 $376,900,133,511
2005 $35,506,892,068 $328,459,608,764
2004 $28,378,933,680 $258,742,133,333
2003 $24,733,680,104 $215,807,733,333
2002 $23,065,539,662 $189,605,866,667
2001 $22,205,721,717 $184,137,600,000
2000 $22,259,557,867 $189,514,933,333
1999 $17,832,769,831 $161,717,066,667
1998 $16,044,213,264 $146,775,466,667
1997 $18,039,791,938 $165,963,684,913
1996 $17,402,080,624 $158,662,483,311
1995 $15,722,236,671 $143,343,124,166
1994 $14,715,214,564 $135,174,899,866
1993 $14,230,429,129 $132,967,957,276
1992 $14,183,615,085 $137,087,850,467
1991 $12,918,335,501 $132,223,230,975
1990 $13,310,273,082 $117,630,173,565
1989 $9,372,171,651 $95,344,459,279
1988 $8,386,215,865 $88,256,074,766
1987 $7,811,183,095 $85,695,861,148
1986 $7,324,167,369 $86,961,922,765
1985 $10,005,645,420 $103,897,846,494
1984 $8,821,443,151 $119,624,858,116
1983 $7,932,541,691 $129,171,635,311
1982 $7,554,719,456 $153,240,313,858
1981 $7,259,120,151 $184,291,360,139
1980 $5,981,760,278 $164,539,660,725
1979 $3,733,352,635 $111,858,444,786
1978 $2,740,301,390 $80,266,516,687
1977 $2,741,169,948 $74,188,986,586
1976 $2,560,220,035 $64,005,665,722
1975 $2,096,699,189 $46,773,208,643
1974 $1,645,917,776 $45,412,957,746
1973 $483,066,991 $14,947,435,499
1972 $366,883,548 $9,664,267,087
1971 $301,010,587 $7,184,806,909
1970 $256,319,795 $5,377,333,333
1969 $239,999,808 $4,485,777,644
1968 $188,879,849 $4,187,777,711
1967 $107,151,832 $3,257,022,223
1966 $67,759,973 $2,920,555,557
1965 $63,279,975 $2,647,955,558
1964 $61,872,526 $2,371,808,713
1963 $59,912,763 $2,207,393,172
1962 $56,273,202 $2,130,606,532
1961 $45,634,487 $1,920,811,284
1960 $44,234,656 $1,748,124,064

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

GeoRank.org/economy/oman/saudi-arabia | CC BY

GDP per capita in Oman vs Saudi Arabia by year

Oman
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $19,947 - $34,537 -
2024 $20,285 $41,740 $35,528 $71,375
2023 $21,028 $41,945 $36,157 $71,565
2022 $23,224 $42,616 $38,510 $71,968
2021 $19,403 $38,719 $31,921 $62,690
2020 $16,785 $35,163 $24,339 $47,518
2019 $19,180 $37,251 $29,567 $59,560
2018 $19,902 $37,780 $29,360 $59,378
2017 $17,820 $33,619 $23,929 $53,120
2016 $17,110 $33,334 $22,268 $49,937
2015 $18,808 $36,058 $23,256 $53,931
2014 $23,161 $44,236 $27,805 $62,578
2013 $23,458 $47,013 $27,865 $62,203
2012 $24,642 $49,989 $28,733 $65,034
2011 $25,188 $52,393 $27,127 $64,125
2010 $23,570 $55,667 $22,028 $58,829
2009 $20,656 $55,127 $17,718 $54,787
2008 $26,577 $52,841 $22,320 $57,236
2007 $18,793 $48,627 $18,596 $55,030
2006 $16,931 $46,091 $17,564 $54,639
2005 $14,435 $43,673 $15,976 $53,548
2004 $11,801 $42,142 $13,154 $51,225
2003 $10,464 $40,935 $11,487 $48,078
2002 $9,869 $41,511 $10,586 $45,466
2001 $9,612 $41,679 $10,805 $47,381
2000 $9,754 $39,443 $11,715 $48,644
1999 $7,915 $36,792 $10,452 $47,495
1998 $7,219 $36,666 $9,836 $48,867
1997 $8,235 $36,809 $11,545 $48,796
1996 $8,068 $34,661 $11,472 $48,569
1995 $7,414 $33,598 $10,786 $48,052
1994 $7,068 $31,925 $10,602 $48,904
1993 $7,039 $30,987 $10,885 $49,503
1992 $7,318 $29,773 $11,730 $50,355
1991 $6,977 $28,109 $11,847 $49,295
1990 $7,546 $26,904 $11,055 $46,214
1989 $5,591 - $9,414 -
1988 $5,279 - $9,165 -
1987 $5,204 - $9,386 -
1986 $5,182 - $10,078 -
1985 $7,549 - $12,745 -
1984 $7,070 - $15,541 -
1983 $6,714 - $17,810 -
1982 $6,759 - $22,454 -
1981 $6,866 - $28,703 -
1980 $5,974 - $27,206 -
1979 $3,934 - $19,612 -
1978 $3,044 - $14,914 -
1977 $3,205 - $14,595 -
1976 $3,143 - $13,313 -
1975 $2,692 - $10,266 -
1974 $2,203 - $10,503 -
1973 $670 - $3,640 -
1972 $524 - $2,474 -
1971 $442 - $1,929 -
1970 $387 - $1,509 -
1969 $372 - $1,313 -
1968 $300 - $1,276 -
1967 $174.7 - $1,032 -
1966 $113.2 - $961 -
1965 $108.1 - $904 -
1964 $108.1 - $840 -
1963 $106.8 - $812 -
1962 $102.3 - $813 -
1961 $84.5 - $760 -
1960 $83.4 - $718 -

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

GeoRank.org/economy/oman/saudi-arabia | CC BY

Oman's GDP per capita is $19,947, ranking 60/197, compared to $34,537 in Saudi Arabia, ranking 36/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Oman Saudi Arabia
Gross domestic product
$110B
2025
$1.28T
2025
GDP rank
70/197
2025
19/197
2025
GDP growth
2.4%
2024-2025
4.5%
2024-2025
GDP per capita
$19,947
2025
$34,537
2025
GDP per capita rank
60/197
2025
36/197
2025
GDP per capita, PPP
$41,740
2024
$71,375
2024
GDP per capita PPP rank
55/197
2024
24/197
2024
Government debt
$39.2B
2025
$405B
2025
Debt-to-GDP ratio
35.8%
2025
31.7%
2025
Government debt per person
$7,132
2025
$10,956
2025
Government debt per person rank
70/185
2025
57/185
2025
Average annual personal income after taxes
$19,851
2026
$22,010
2026
Market capitalization of domestic companies
$41.3B
2025
$2.36T
2025
Number of millionaires n/a
348,000
2026
Number of billionaires
2
2026
15
2026
Government expenditure, % of GDP
28.9%
2025
29%
2025
Consumer prices inflation
1%
2024-2025
2.08%
2024-2025
Central bank interest rate
4.5%
2025
4.25%
2025
Unemployment rate
3.3%
2024
3.24%
2025
Population
5775345
37955120

Spending and national debt comparison by year

Oman
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Oman Saudi Arabia
Government spending Government debt Government spending Government debt
2025 28.9% 35.8% 29% 31.7%
2024 28.7% 35.5% 29.2% 25.9%
2023 27.5% 37.4% 28.3% 23%
2022 31.1% 41.7% 25.3% 21.3%
2021 36.5% 61.9% 28.2% 25.5%
2020 44.5% 67.9% 37.4% 29.7%
2019 38.8% 52.5% 31.8% 20.3%
2018 38.3% 44.7% 32.4% 16.8%
2017 39.4% 40.1% 30.9% 15.9%
2016 44.6% 29.3% 33.3% 12.2%
2015 44.5% 13.9% 38.5% 5.47%
2014 41.4% 4.04% 38.6% 1.5%
2013 39.3% 4.66% 34.5% 2.08%
2012 38.6% 4.59% 32.5% 2.97%
2011 34.5% 4.44% 32.4% 5.31%
2010 30.6% 5.46% 33% 8.43%
2009 33.4% 5.8% 37.1% 14%
2008 25.6% 3.2% 26.7% 12.1%
2007 30.7% 4.44% 29.5% 17.1%
2006 30.1% 7.56% 27.3% 25.8%
2005 30.6% 8.39% 28.2% 37.3%
2004 34.1% 14.5% 31.1% 62.9%
2003 34% 13% 33.1% 81.6%
2002 34.1% 15.9% 35.9% 96.4%
2001 33.3% 22.5% 36.9% 93.1%
2000 31.2% 21.7% 33.1% 86.7%
1999 34.2% 28.9% 30.3% 103%
1998 36.1% 30.9% 34.5% 101.5%
1997 32.1% 20.8% 35.6% 76.7%
1996 33.5% 21.2% 33.3% 75.2%
1995 38.2% 21.9% 32.4% 74.2%
1994 39.7% 23.6% 33.8% 67.9%
1993 40.1% 22.2% 37.7% 58.6%
1992 40.1% 23.1% 41.2% 47.8%
1991 37.4% 22.6% 34.9% 39.4%
1990 36.5% 17.8% 39.3% -

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

GeoRank.org/economy/oman/saudi-arabia | CC BY

In 2025, Oman's government spending was $31.7B, accounting for 28.9% of its GDP, while Saudi Arabia spent $370B, or 29% of GDP.

Debt-to-GDP ratio is 35.8% in Oman and 31.7% in Saudi Arabia, ranking 142/185 and 151/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Oman Saudi Arabia
2025 1.04% -5.77%
2024 3.22% -2.46%
2023 6.72% -1.77%
2022 10.3% 2.24%
2021 -3.17% -1.99%
2020 -15.7% -10.2%
2019 -4.83% -3.96%
2018 -6.72% -5.21%
2017 -10.5% -8.57%
2016 -19.6% -13.2%
2015 -13.5% -14.9%
2014 -1.58% -3.4%
2013 2.78% 5.47%
2012 4.07% 11.7%
2011 8.24% 11.4%
2010 4.95% 4.39%
2009 -0.27% -5.38%
2008 14.7% 29.8%
2007 10.5% 11.8%
2006 12.2% 20.8%
2005 11.2% 18%
2004 5.43% 9.72%
2003 5.92% 1.2%
2002 5.31% -5.91%
2001 7.55% -3.91%
2000 12.2% 3.18%
1999 0.3% -5.99%
1998 -4.37% -8.88%
1997 4.77% -2.51%
1996 2.22% -3.25%
1995 -3.9% -5.12%
1994 -7.47% -8.31%
1993 -6.84% -9.33%
1992 -4.85% -8.12%
1991 0.12% -3.28%
1990 4.78% -

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

GeoRank.org/economy/oman/saudi-arabia | 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 Saudi Arabia's deficit of $73.7B, or 5.77% of GDP.

Over the past 35 years, Oman recorded a fiscal deficit in 14 of those years, while Saudi Arabia ran a deficit in 23 years. On average, Oman posted an annual surplus equal to 0.87% of GDP, compared to deficit of 0.34% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Oman

Saudi Arabia
1x
Year Consumer prices inflation
Oman Saudi Arabia
2025 1% 2.08%
2024 0.6% 1.69%
2023 1% 2.33%
2022 2.5% 2.47%
2021 1.7% 3.06%
2020 -0.4% 3.37%
2019 0.5% -1.19%
2018 0.7% 2.47%
2017 1.5% -0.83%
2016 0.9% 2.05%
2015 0.1% 1.22%
2014 1.2% 2.24%
2013 1.3% 3.51%
2012 2.9% 2.87%
2011 4.1% 5.83%
2010 3.3% 5.34%
2009 3.5% 5.06%
2008 12.6% 9.87%
2007 5.9% 4.17%
2006 3.2% 2.21%
2005 1.9% 0.48%
2004 0.8% 0.52%
2003 0.2% 0.61%
2002 -0.3% 0.25%
2001 -0.8% -1.12%
2000 -1.2% -1.12%
1999 0.5% -1.33%
1998 0.4% -0.37%
1997 -0.4% 0.06%

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

GeoRank.org/economy/oman/saudi-arabia | CC BY

Over the past 29 years, Oman has recorded an average annual inflation rate of 1.7%, compared with 1.99% in Saudi Arabia. In 2025, inflation was 1% in Oman and 2.08% in Saudi Arabia.

Top exports between countries

Oman
Export category Export value
Raw materials & minerals $973M
Metals $468M
Machinery & equipment $354M
Processed food, beverages & tobacco $210M
Chemicals & pharma $139M
Animal & marine products $118M
Textiles & consumer goods $24.1M
Raw agricultural goods $24M
Wood & paper products $15.5M
Miscellaneous $856K
Saudi Arabia
Export category Export value
Machinery & equipment $604M
Chemicals & pharma $445M
Processed food, beverages & tobacco $211M
Animal & marine products $153M
Metals $132M
Textiles & consumer goods $52.7M
Raw materials & minerals $34.7M
Raw agricultural goods $32.2M
Miscellaneous $32M
Wood & paper products $29M

Balance of trade

Oman Saudi Arabia
Current account balance
$3.07B
2024
-$32.7B
2025
Current account balance ranking
37/190
2024
185/190
2025
Current account balance, % of GDP
+2.86%
2024
-2.56%
2025
Goods imports
$39.5B
2024
$230B
2025
Goods exports
$65.2B
2024
$311B
2025
Service imports
$12.8B
2024
$129B
2025
Service exports
$5.64B
2024
$69.4B
2025
Imports of goods and services, % of GDP
48.8%
2024
28.2%
2025
Exports of goods and services, % of GDP
66.1%
2024
29.7%
2025

Economic freedom indices

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

Oman Saudi Arabia
Economic freedom 68.5 65.4
Economic freedom ranking 45/197 65/197
Property rights 71.8 51.4
Government integrity 49.4 52.7
Judicial effectiveness 28 38.2
Tax burden 97.6 99.2
Government spending 74.7 77
Fiscal health 97.5 97.9
Business freedom 67.8 71.2
Labor freedom 47.7 41.8
Monetary freedom 79.2 81.2
Trade freedom 78.4 73.8
Investment freedom 70 50
Financial freedom 60 50

Economic freedom comparison by year

Oman
Saudi Arabia
1x
Year Economic freedom index
Oman Saudi Arabia
2026 68.5 65.4
2025 65.4 64.4
2024 62.9 61.9
2023 58.5 58.3
2022 56.6 55.5
2021 64.6 66
2020 63.6 62.4
2019 61 60.7
2018 61 59.6
2017 62.1 64.4
2016 67.1 62.1
2015 66.7 62.1
2014 67.4 62.2
2013 68.1 60.6
2012 67.9 62.5
2011 69.8 66.2
2010 67.7 64.1
2009 67 64.3
2008 67.3 62.5
2007 65.8 60.9
2006 63.7 63
2005 66.5 63
2004 66.9 60.4
2003 64.6 63.2
2002 64 65.3
2001 67.7 62.2
2000 64.1 66.5
1999 64.9 65.5
1998 64.9 69.3
1997 64.5 68.7
1996 65.4 68.3
1995 70.2 -

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

GeoRank.org/economy/oman/saudi-arabia | CC BY

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Saudi Arabia
Services, % of GDP
47.2%
2025
48.9%
2025
Industry, % of GDP
52.7%
2025
43%
2025
Agriculture, forestry, and fishing, % of GDP
2.81%
2025
2.59%
2025
GNI, Atlas method
$103B
2024
$1.33T
2025
GNI per capita, PPP
$39,390
2024
$74,400
2025
Total reserves including gold
$18.3B
2024
$505B
2025
Total reserves ranking
68/177
2024
8/177
2025
Net foreign direct investment
-$12.6B
2024
-$5.6B
2025
Net inflows of foreign direct investment
$12.5B
2024
$21.3B
2024
Net outflows of foreign direct investment
-$143M
2024
$27.6B
2024
Gross capital formation, % of GDP
24.8%
2024
31.6%
2025

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/saudi-arabia | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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 (2024–2025, 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.