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Economy of Oman vs Sierra Leone compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $6.97B for Sierra Leone, ranking 70/197 and 160/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $2.91B (41.7% of GDP) in Sierra Leone.

Oman vs Sierra Leone GDP by year

Oman
Sierra Leone
1x
Year GDP, current $
Oman Sierra Leone
2024 $107,137,198,769 $6,971,127,235
2023 $106,174,708,037 $6,415,852,767
2022 $109,852,795,839 $7,121,125,278
2021 $87,323,797,139 $7,166,931,485
2020 $75,909,492,848 $6,688,307,703
2019 $88,060,858,257 $6,523,577,594
2018 $91,505,851,756 $6,390,514,689
2017 $80,856,697,009 $5,749,846,528
2016 $75,128,738,622 $6,084,297,211
2015 $78,710,793,238 $6,788,352,975
2014 $92,699,089,727 $7,686,138,791
2013 $89,936,020,806 $7,502,762,863
2012 $87,408,842,653 $6,141,666,509
2011 $77,497,529,259 $4,861,632,885
2010 $64,993,498,049 $4,262,805,967
2009 $55,454,096,229 $3,953,403,098
2008 $69,804,681,404 $4,157,895,298
2007 $48,300,390,117 $3,632,957,611
2006 $42,577,633,290 $3,263,697,467
2005 $35,506,892,068 $2,545,275,313
2004 $28,378,933,680 $2,237,350,687
2003 $24,733,680,104 $2,142,618,046
2002 $23,065,539,662 $1,933,863,911
2001 $22,205,721,717 $1,681,473,894
2000 $22,259,557,867 $635,866,404
1999 $17,832,769,831 $669,386,624
1998 $16,044,213,264 $672,368,187
1997 $18,039,791,938 $850,232,760
1996 $17,402,080,624 $941,709,423
1995 $15,722,236,671 $870,740,292
1994 $14,715,214,564 $911,853,802
1993 $14,230,429,129 $768,867,883
1992 $14,183,615,085 $679,940,814
1991 $12,918,335,501 $779,981,987
1990 $13,310,273,082 $649,644,098
1989 $9,372,171,651 $932,974,420
1988 $8,386,215,865 $1,055,083,933
1987 $7,811,183,095 $660,106,336
1986 $7,324,167,369 $490,181,457
1985 $10,005,645,420 $856,890,459
1984 $8,821,443,151 $1,087,471,862
1983 $7,932,541,691 $995,104,305
1982 $7,554,719,456 $1,295,361,886
1981 $7,259,120,151 $1,114,830,472
1980 $5,981,760,278 $1,100,685,845
1979 $3,733,352,635 $1,109,374,911
1978 $2,740,301,390 $960,728,339
1977 $2,741,169,948 $691,777,584
1976 $2,560,220,035 $594,895,942
1975 $2,096,699,189 $679,336,344
1974 $1,645,917,776 $648,590,643
1973 $483,066,991 $575,230,724
1972 $366,883,548 $465,381,340
1971 $301,010,587 $419,549,305
1970 $256,319,795 $434,410,974
1969 $239,999,808 $408,690,163
1968 $188,879,849 $329,859,732
1967 $107,151,832 $348,795,303
1966 $67,759,973 $375,479,850
1965 $63,279,975 $359,379,856
1964 $61,872,526 $371,847,461
1963 $59,912,763 $348,547,279
1962 $56,273,202 $342,721,416
1961 $45,634,487 $327,834,191
1960 $44,234,656 $322,009,962

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

GeoRank.org/economy/oman/sierra-leone | CC BY

GDP per capita in Oman vs Sierra Leone by year

Oman
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 $807 $3,522
2023 $21,028 $41,945 $758 $3,368
2022 $23,224 $42,616 $860 $3,144
2021 $19,403 $38,719 $885 $2,849
2020 $16,785 $35,163 $845 $2,719
2019 $19,180 $37,251 $844 $2,704
2018 $19,902 $37,780 $846 $2,640
2017 $17,820 $33,619 $779 $2,501
2016 $17,110 $33,334 $844 $2,635
2015 $18,808 $36,058 $965 $2,560
2014 $23,161 $44,236 $1,118 $2,762
2013 $23,458 $47,013 $1,117 $2,701
2012 $24,642 $49,989 $938 $2,317
2011 $25,188 $52,393 $761 $2,043
2010 $23,570 $55,667 $685 $1,900
2009 $20,656 $55,127 $653 $1,814
2008 $26,577 $52,841 $705 $1,824
2007 $18,793 $48,627 $632 $1,770
2006 $16,931 $46,091 $580 $1,698
2005 $14,435 $43,673 $463 $1,615
2004 $11,801 $42,142 $418 $1,541
2003 $10,464 $40,935 $414 $1,458
2002 $9,869 $41,511 $389 $1,360
2001 $9,612 $41,679 $358 $1,121
2000 $9,754 $39,443 $143.7 $1,242
1999 $7,915 $36,792 $155 $1,167
1998 $7,219 $36,666 $156.5 $1,180
1997 $8,235 $36,809 $199.9 $1,157
1996 $8,068 $34,661 $224.3 $1,225
1995 $7,414 $33,598 $208.4 $1,187
1994 $7,068 $31,925 $218.5 $1,266
1993 $7,039 $30,987 $185 $1,269
1992 $7,318 $29,773 $163.2 $1,220
1991 $6,977 $28,109 $183.7 $1,445
1990 $7,546 $26,904 $154.8 $1,382
1989 $5,591 - $231.3 -
1988 $5,279 - $268.2 -
1987 $5,204 - $172.4 -
1986 $5,182 - $131.5 -
1985 $7,549 - $235.5 -
1984 $7,070 - $306 -
1983 $6,714 - $285.8 -
1982 $6,759 - $380 -
1981 $6,866 - $334 -
1980 $5,974 - $336 -
1979 $3,934 - $346 -
1978 $3,044 - $305 -
1977 $3,205 - $224.2 -
1976 $3,143 - $196.4 -
1975 $2,692 - $228.4 -
1974 $2,203 - $222.1 -
1973 $670 - $200.6 -
1972 $524 - $165.4 -
1971 $442 - $151.8 -
1970 $387 - $160.2 -
1969 $372 - $153.6 -
1968 $300 - $126.3 -
1967 $174.7 - $136.1 -
1966 $113.2 - $149.3 -
1965 $108.1 - $145.6 -
1964 $108.1 - $153.4 -
1963 $106.8 - $146.3 -
1962 $102.3 - $146.3 -
1961 $84.5 - $142.3 -
1960 $83.4 - $142 -

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

GeoRank.org/economy/oman/sierra-leone | CC BY

Oman's GDP per capita is $20,285, ranking 57/197, compared to $807 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Oman Sierra Leone
Gross domestic product
$107B
2024
$6.97B
2024
GDP rank
70/197
2024
160/197
2024
GDP growth
1.63%
2023-2024
4.29%
2023-2024
GDP per capita
$20,285
2024
$807
2024
GDP per capita rank
57/197
2024
186/197
2024
GDP per capita, PPP
$41,740
2024
$3,522
2024
GDP per capita PPP rank
55/197
2024
171/197
2024
Government debt
$38B
2024
$2.91B
2024
Debt-to-GDP ratio
35.5%
2024
41.7%
2024
Government debt per person
$7,204
2024
$337
2024
Government debt per person rank
67/185
2024
174/185
2024
Average annual personal income after taxes
$20,894
2026
$2,915
2026
Market capitalization of domestic companies
$22.3B
2022
n/a
Number of billionaires
2
2025
n/a
Income share by richest 10% n/a
29.4%
2018
Income share by poorest 10% n/a
3.4%
2018
Government expenditure, % of GDP
28.7%
2024
15.6%
2024
Consumer prices inflation
0.6%
2023-2024
28.4%
2023-2024
Central bank interest rate
4.5%
2025
18.8%
2025
Unemployment rate
3.3%
2024
3.19%
2018
Population
5761708
9049533

Spending and national debt comparison by year

Oman
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Oman Sierra Leone
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 15.6% 41.7%
2023 27.5% 37.5% 15.4% 49.5%
2022 30.9% 41.7% 16.7% 54%
2021 36.5% 61.9% 16.8% 47.1%
2020 44.5% 67.9% 15.6% 46.4%
2019 38.8% 52.5% 13.3% 45.3%
2018 38.3% 44.7% 13.7% 44.2%
2017 39.4% 40.1% 15% 44.2%
2016 44.6% 29.3% 14.9% 38.9%
2015 44.5% 13.9% 13.1% 28.4%
2014 41.4% 4.04% 13.5% 26.8%
2013 39.3% 4.66% 11.4% 22.3%
2012 38.6% 4.59% 13.5% 24.1%
2011 34.5% 4.44% 13.2% 25.8%
2010 30.6% 5.46% 12.5% 28.9%
2009 33.4% 5.8% 11.3% 31.1%
2008 25.6% 3.2% 10.3% 46.1%
2007 30.7% 4.44% 8.1% 26.4%
2006 30.1% 7.56% 9.97% 61.9%
2005 30.6% 8.39% 10.9% 78.9%
2004 34.1% 14.5% 11.1% 93.2%
2003 34% 13% 11.7% 99.8%
2002 34.1% 15.9% 12.6% 99.8%
2001 33.3% 22.5% 12% 113.5%
2000 31.2% 21.7% 10.3% -
1999 34.2% 28.9% - -
1998 36.1% 30.9% - -
1997 32.1% 20.8% - -
1996 33.5% 21.2% - -
1995 38.2% 21.9% - -
1994 39.7% 23.6% - -
1993 40.1% 22.2% - -
1992 40.1% 23.1% - -
1991 37.4% 22.6% - -
1990 36.5% 17.8% - -

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

GeoRank.org/economy/oman/sierra-leone | CC BY

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Sierra Leone spent $1.09B, or 15.6% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 41.7% in Sierra Leone, ranking 145/185 and 128/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Oman Sierra Leone
2024 3.31% -4.53%
2023 6.87% -4.99%
2022 10.5% -5.93%
2021 -3.17% -4.35%
2020 -15.7% -3.5%
2019 -4.83% -1.95%
2018 -6.72% -3.57%
2017 -10.5% -5.61%
2016 -19.6% -5.41%
2015 -13.5% -2.86%
2014 -1.58% -2.77%
2013 2.78% -1.74%
2012 4.07% -3.41%
2011 8.24% -2.78%
2010 4.95% -3.09%
2009 -0.27% -1.51%
2008 14.7% -2.22%
2007 10.5% 12.6%
2006 12.2% -0.93%
2005 11.2% -1.17%
2004 5.43% -1.46%
2003 5.92% -2.78%
2002 5.31% -3.03%
2001 7.55% -3.22%
2000 12.2% -1.94%
1999 0.3% -
1998 -4.37% -
1997 4.77% -
1996 2.22% -
1995 -3.9% -
1994 -7.47% -
1993 -6.84% -
1992 -4.85% -
1991 0.12% -
1990 4.78% -

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

GeoRank.org/economy/oman/sierra-leone | 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 Sierra Leone's deficit of $316M, or 4.53% of GDP.

Over the past 25 years, Oman recorded a fiscal deficit in 9 of those years, while Sierra Leone ran a deficit in 24 years. On average, Oman posted an annual surplus equal to 2% of GDP, compared to deficit of 2.49% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Oman

Sierra Leone
1x
Year Consumer prices inflation
Oman Sierra Leone
2024 0.6% 28.4%
2023 1% 47.7%
2022 2.5% 27.2%
2021 1.7% 11.9%
2020 -0.4% 13.4%
2019 0.5% 14.8%
2018 0.7% 16%
2017 1.5% 18.2%
2016 0.9% 10.9%
2015 0.1% 6.7%
2014 1.2% 4.6%
2013 1.3% 5.5%
2012 2.9% 6.6%
2011 4.1% 6.8%
2010 3.3% 7.2%
2009 3.5% 7.5%
2008 12.6% 8.2%
2007 5.9% 17%
2006 3.2% 10.5%
2005 1.9% 13.7%
2004 0.8% 12.9%
2003 0.2% 4%
2002 -0.3% 0.1%
2001 -0.8% 2.6%
2000 -1.2% -0.9%
1999 0.5% 34.1%
1998 0.4% 36%
1997 -0.4% 14.6%

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

GeoRank.org/economy/oman/sierra-leone | CC BY

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 13.8% in Sierra Leone. In 2024, inflation was 0.6% in Oman and 28.4% in Sierra Leone.

Top exports between countries

Oman
Export category Export value
Animal & marine products $1.51M
Chemicals & pharma $617K
Wood & paper products $148K
Machinery & equipment $77K
Processed food, beverages & tobacco $58K
Raw materials & minerals $47K
Miscellaneous $11K
Sierra Leone
Export category Export value

Balance of trade

Oman Sierra Leone
Current account balance
$3.07B
2024
-$606M
2023
Current account balance ranking
39/190
2024
109/190
2023
Current account balance, % of GDP
+2.86%
2024
-9.45%
2023
Goods imports
$39.5B
2024
$1.92B
2023
Goods exports
$65.2B
2024
$1.34B
2023
Service imports
$12.8B
2024
$348M
2023
Service exports
$5.64B
2024
$42.5M
2023
Imports of goods and services, % of GDP
48.8%
2024
23.3%
2024
Exports of goods and services, % of GDP
66.1%
2024
17.3%
2024

Economic freedom indices

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

Oman Sierra Leone
Economic freedom 68.5 49.6
Economic freedom ranking 45/197 165/197
Property rights 71.8 32.9
Government integrity 49.4 35.8
Judicial effectiveness 28 42
Tax burden 97.6 88.2
Government spending 74.7 92.4
Fiscal health 97.5 54.1
Business freedom 67.8 44.8
Labor freedom 47.7 38.2
Monetary freedom 79.2 53.6
Trade freedom 78.4 63.6
Investment freedom 70 30
Financial freedom 60 20

Economic freedom comparison by year

Oman
Sierra Leone
1x
Year Economic freedom index
Oman Sierra Leone
2026 68.5 49.6
2025 65.4 48
2024 62.9 44.6
2023 58.5 50.2
2022 56.6 52
2021 64.6 51.7
2020 63.6 48
2019 61 47.5
2018 61 51.8
2017 62.1 52.6
2016 67.1 52.3
2015 66.7 51.7
2014 67.4 50.5
2013 68.1 48.3
2012 67.9 49.1
2011 69.8 49.6
2010 67.7 47.9
2009 67 47.8
2008 67.3 48.3
2007 65.8 47
2006 63.7 45.2
2005 66.5 44.8
2004 66.9 43.6
2003 64.6 42.2
2002 64 -
2001 67.7 -
2000 64.1 44.2
1999 64.9 47.2
1998 64.9 47.7
1997 64.5 45
1996 65.4 52.3
1995 70.2 49.8

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

GeoRank.org/economy/oman/sierra-leone | CC BY

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Sierra Leone
Services, % of GDP
46%
2024
42.6%
2024
Industry, % of GDP
54.2%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
29.2%
2024
GNI, Atlas method
$103B
2024
$7.08B
2024
GNI per capita, PPP
$39,340
2024
$3,490
2024
Total reserves including gold
$18.3B
2024
$433M
2024
Total reserves ranking
64/177
2024
160/177
2024
Net foreign direct investment
-$12.6B
2024
-$241M
2023
Net inflows of foreign direct investment
$12.5B
2024
$122M
2024
Net outflows of foreign direct investment
-$143M
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
2.22%
2024
Poverty at national poverty lines n/a
56.8%
2018
Gross capital formation, % of GDP
24.8%
2024
20.5%
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/sierra-leone | 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 (2020–2023, 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.

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.